タイトル(掲載誌)Discussion Papers In Economics And Business
一般注記* Revised: [09-22, 2009]
This paper examines whether trade credit as a credible signal about firm's creditworthiness tobanks facilitates provision of bank credit to the firms receiving trade credit. Using data onJapanese manufacturing firms over the period 1990-1995, we find that firms receiving tradecredit are provided short-term credit by less-informed banks. Consequently, in the firms thathave arm's-length relations with banks, trade credit plays an important role in mitigatingasymmetric information problems between firms and banks, thereby facilitating extension ofbank credit.
連携機関・データベース国立情報学研究所 : 学術機関リポジトリデータベース(IRDB)(機関リポジトリ)