FRINK Linked Data Fragments server

Matches in SemOpenAlex for { <https://semopenalex.org/work/W1492350261> ?p ?o ?g. }

• W1492350261 abstract "This thesis addresses two fundamental puzzles about trade credit: why does it appear to be so expensive. and why do input suppliers engage in the business of lending money. Both questions are answered analysing the interaction between the financial and the industrial aspects of the supplier-customer relationship. In the first part of the thesis we present a model where, in a context of limited enforceability of contracts, suppliers have a comparative advantage over banks in lending to their customers because they hold the extra threat of stopping the sup-ply of intermediate goods. Suppliers also act as lenders of last resort, providing insurance against liquidity shocks that may endanger the survival of their cus-tomers. The relatively high implicit interest rates of trade credit result from the existence of default and insurance premiums. The two necessary elements for these two roles of suppliers are the existence of some relationship surplus that is split between suppliers and customers, and an environment where debt repayment is difficult to enforce. Then we extend the analysis to suppliers who are themselves financially con-strained. Under certain assumptions, the optimal financial contract that arises is similar to a standard factoring contract. The interest rates paid by suppliers and customers in this contract depend on their own creditworthiness, but also on the characteristics of their commercial relationship. Finally the implications of the basic model are examined empirically using both parametric and non-parametric techniques on a panel of UK firms. The results show some regularities that had not been identified in previous literature and that support the role of suppliers as debt collectors and insurance providers of the basic model. In particular these results are consistent with the idea of trade credit being related to the existence of either some degree of technological specificity or a relationship surplus that takes time to build. Evidence is also found of the support of suppliers to their customers experiencing some form of liquidity shock." @default.
• W1492350261 created "2016-06-24" @default.
• W1492350261 creator A5071152950 @default.
• W1492350261 date "2001-01-01" @default.
• W1492350261 modified "2023-10-11" @default.
• W1492350261 title "Inter-firm credit and industrial links." @default.
• W1492350261 cites W1555446404 @default.
• W1492350261 cites W1981247655 @default.
• W1492350261 cites W2013704297 @default.
• W1492350261 cites W2023128559 @default.
• W1492350261 cites W2025610165 @default.
• W1492350261 cites W2029792205 @default.
• W1492350261 cites W2032927790 @default.
• W1492350261 cites W2038273313 @default.
• W1492350261 cites W2043496385 @default.
• W1492350261 cites W2061796055 @default.
• W1492350261 cites W2072870249 @default.
• W1492350261 cites W2081008536 @default.
• W1492350261 cites W2119780569 @default.
• W1492350261 cites W2133640915 @default.
• W1492350261 cites W2164367837 @default.
• W1492350261 cites W2934944248 @default.
• W1492350261 cites W3123001416 @default.
• W1492350261 cites W3125870198 @default.
• W1492350261 cites W3126090116 @default.
• W1492350261 cites W3193575196 @default.
• W1492350261 cites W585901676 @default.
• W1492350261 hasPublicationYear "2001" @default.
• W1492350261 type Work @default.
• W1492350261 sameAs 1492350261 @default.
• W1492350261 citedByCount "3" @default.
• W1492350261 crossrefType "dissertation" @default.
• W1492350261 hasAuthorship W1492350261A5071152950 @default.
• W1492350261 hasConcept C10138342 @default.
• W1492350261 hasConcept C120527767 @default.
• W1492350261 hasConcept C144133560 @default.
• W1492350261 hasConcept C151730666 @default.
• W1492350261 hasConcept C162324750 @default.
• W1492350261 hasConcept C175025494 @default.
• W1492350261 hasConcept C177225278 @default.
• W1492350261 hasConcept C183582576 @default.
• W1492350261 hasConcept C2776825449 @default.
• W1492350261 hasConcept C2779343474 @default.
• W1492350261 hasConcept C40700 @default.
• W1492350261 hasConcept C556758197 @default.
• W1492350261 hasConcept C86803240 @default.
• W1492350261 hasConceptScore W1492350261C10138342 @default.
• W1492350261 hasConceptScore W1492350261C120527767 @default.
• W1492350261 hasConceptScore W1492350261C144133560 @default.
• W1492350261 hasConceptScore W1492350261C151730666 @default.
• W1492350261 hasConceptScore W1492350261C162324750 @default.
• W1492350261 hasConceptScore W1492350261C175025494 @default.
• W1492350261 hasConceptScore W1492350261C177225278 @default.
• W1492350261 hasConceptScore W1492350261C183582576 @default.
• W1492350261 hasConceptScore W1492350261C2776825449 @default.
• W1492350261 hasConceptScore W1492350261C2779343474 @default.
• W1492350261 hasConceptScore W1492350261C40700 @default.
• W1492350261 hasConceptScore W1492350261C556758197 @default.
• W1492350261 hasConceptScore W1492350261C86803240 @default.
• W1492350261 hasLocation W14923502611 @default.
• W1492350261 hasOpenAccess W1492350261 @default.
• W1492350261 hasPrimaryLocation W14923502611 @default.
• W1492350261 hasRelatedWork W2023128559 @default.
• W1492350261 hasRelatedWork W2024365411 @default.
• W1492350261 hasRelatedWork W2038273313 @default.
• W1492350261 hasRelatedWork W2081008536 @default.
• W1492350261 hasRelatedWork W2147446616 @default.
• W1492350261 hasRelatedWork W2184528232 @default.
• W1492350261 hasRelatedWork W2531171572 @default.
• W1492350261 hasRelatedWork W2605800848 @default.
• W1492350261 hasRelatedWork W2753966073 @default.
• W1492350261 hasRelatedWork W2890552966 @default.
• W1492350261 hasRelatedWork W3021995853 @default.
• W1492350261 hasRelatedWork W3118674438 @default.
• W1492350261 hasRelatedWork W3121388479 @default.
• W1492350261 hasRelatedWork W3121638446 @default.
• W1492350261 hasRelatedWork W3123406626 @default.
• W1492350261 hasRelatedWork W3125091460 @default.
• W1492350261 hasRelatedWork W3125855899 @default.
• W1492350261 hasRelatedWork W3159403524 @default.
• W1492350261 hasRelatedWork W6181578 @default.
• W1492350261 hasRelatedWork W3122591940 @default.
• W1492350261 isParatext "false" @default.
• W1492350261 isRetracted "false" @default.
• W1492350261 magId "1492350261" @default.
• W1492350261 workType "dissertation" @default.