Corporate growth – Trade credit relationship: Evidence from a panel of countries

Borsa Istanbul Review - Tập 22 - Trang 156-168 - 2022
Bahadır Karakoç1,2
1Muş Alparslan University, Management Department, Muş, Turkey
2Boğaziçi University, Istanbul, Turkey

Tài liệu tham khảo

Agostino, 2014, Does trade credit play a signaling role? Some evidence from SMEs microdata, Small Business Economics, 42, 131, 10.1007/s11187-013-9478-8 Aktas, 2012, The information content of trade credit, Journal of Banking & Finance, 36, 1402, 10.1016/j.jbankfin.2011.12.001 Arellano, 1991, Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations, The Review of Economic Studies, 58, 277, 10.2307/2297968 Biais, 1997, Trade credit and credit rationing, Review of Financial Studies, 10, 903, 10.1093/rfs/10.4.903 Bougheas, 2008, Corporate trade credit and inventories: New evidence of a tradeoff from accounts payable and receivable, Journal of Banking & Finance, 33, 300, 10.1016/j.jbankfin.2008.07.019 Burkart, 2004, In kind finance: A theory of trade credit, The American Economic Review, 94, 569, 10.1257/0002828041464579 Cunat, 2007, Trade credit: Suppliers as debt collectors and insurance providers, Review of Financial Studies, 20, 491, 10.1093/rfs/hhl015 Danielson, 2004, Bank loan availability and trade credit demand, The Financial Review, 39, 579, 10.1111/j.0732-8516.2004.00089.x DeAngelo, 2011, Capital structure dynamics and transitory debt, Journal of Financial Economics, 99, 235, 10.1016/j.jfineco.2010.09.005 Deloof, 1996, Trade credit, product quality, and intragroup trade: Some European evidence, Financial Management, 25, 33, 10.2307/3665806 Demirgüç-Kunt, 2001 Demir, 2018, Don't throw in the towel, throw in trade credit!, Journal of International Economics, 111, 177, 10.1016/j.jinteco.2018.01.008 Denis, 2012, Debt financing and financial flexibility from proactive leverage increases, Review of Financial Studies, 25, 1897, 10.1093/rfs/hhs005 Fabbri, 2016, Bargaining power and trade credit, Journal of Corporate Finance, 41, 66, 10.1016/j.jcorpfin.2016.07.001 Fabbri, 2010, Trade credit, collateral liquidation, and borrowing constraints, Journal of Financial Economics, 96, 413, 10.1016/j.jfineco.2010.02.010 Ferrando, 2013, Do firms use the trade credit channel to manage growth?, Journal of Banking & Finance, 37, 3035, 10.1016/j.jbankfin.2013.02.013 Fisman, 2003, Trade credit, financial intermediary development, and industry growth, The Journal of Finance, 58, 353, 10.1111/1540-6261.00527 Garcia-Appendini, 2013, Firms as liquidity providers: Evidence from the 2007–2008 financial crisis, Journal of Financial Economics, 109, 272, 10.1016/j.jfineco.2013.02.010 Ghoul, 2016, Trade credit provision and national culture, Journal of Corporate Finance, 41, 475, 10.1016/j.jcorpfin.2016.07.002 Goto, 2015, As told by the supplier: Trade credit and the cross section of stock returns, Journal of Banking & Finance, 60, 296, 10.1016/j.jbankfin.2015.08.030 Huang, 2011, Counter-cyclical substitution between trade credit and bank credit, Journal of Banking & Finance, 35, 1859, 10.1016/j.jbankfin.2010.12.009 Jain, 2001, Monitoring costs and trade credit, The Quarterly Review of Economics and Finance, 41, 89, 10.1016/S1062-9769(00)00063-6 Karakoc, 2020, Foreign capital, real sector financing and excessive leverage in Turkey: What went wrong?, Emerging Markets Journal, 10, 30, 10.5195/emaj.2020.190 Kling, 2014, Cash holding, trade credit and access to short-term bank finance, International Review of Financial Analysis, 32, 123, 10.1016/j.irfa.2014.01.013 Long, 1993, Trade credit, quality guarantees, and product marketability, Financial Management, 22, 117, 10.2307/3665582 Love, 2010, Trade credit, bank credit and financial crisis, International Review of Finance, 10, 125, 10.1111/j.1468-2443.2009.01100.x Mateut, 2006, Trade credit, bank lending and monetary policy transmission, European Economic Review, 50, 603, 10.1016/j.euroecorev.2005.01.002 Mian, 1992, Accounts receivable management policy: Theory and evidence, The Journal of Finance, 47, 169, 10.1111/j.1540-6261.1992.tb03982.x Ng, 1999, Evidence on the determinants of credit terms in interfirm trade, The Journal of Finance, 54, 1109, 10.1111/0022-1082.00138 Nilsen, 2002, Trade credit and the bank lending channel, Journal of Money, Credit, and Banking, 34, 226, 10.1353/mcb.2002.0032 Niskanen, 2006, The determinants of corporate trade credit policies in a bank-dominated financial environment: The case of Finnish small firms, European Financial Management, 12, 81, 10.1111/j.1354-7798.2006.00311.x OECD, 2007 Petersen, 1997, Trade credit: Theories and evidence, Review of Financial Studies, 10, 661, 10.1093/rfs/10.3.661 2015 Roodman, 2009, How to do xtabond2: An introduction to difference and system GMM in Stata, STATA Journal, 9, 86, 10.1177/1536867X0900900106 Werner, 2011, Product innovation, credit constraints, and trade credit: Evidence from a cross-country study, Managerial and Decision Economics, 32, 413, 10.1002/mde.1546 Zéghal, 2011, The accounting treatment of intangibles – a critical review of the literature, Accounting Forum, 35, 262, 10.1016/j.accfor.2011.04.003