Firm–bank “odd couples” and trade credit: ...
Type de document :
Compte-rendu et recension critique d'ouvrage
Titre :
Firm–bank “odd couples” and trade credit: Evidence from Italian small- and medium-sized enterprises
Auteur(s) :
Titre de la revue :
Economic Modelling
Pagination :
105829
Éditeur :
Elsevier
Date de publication :
2022-06
ISSN :
0264-9993
Mot(s)-clé(s) en anglais :
Banks
Lending technologies
Small business
Trade credit
Lending technologies
Small business
Trade credit
Discipline(s) HAL :
Sciences de l'Homme et Société/Gestion et management
Résumé en anglais : [en]
One of the most crucial obstacles for small- and medium-sized enterprises is access to credit primarily because of their high opacity. The existing literature underlines that relationship banks specialize in analyzing ...
Lire la suite >One of the most crucial obstacles for small- and medium-sized enterprises is access to credit primarily because of their high opacity. The existing literature underlines that relationship banks specialize in analyzing opaque firms, thereby allowing them better access to credit; however, what can opaque firms do if they cannot find a relationship bank? By using an Italian database, with more than 900 firms, we reveal that when opaque firms deal with transactional banks (the “odd couples”), they use a greater portion of trade credit. This result is robust to alternative measures of trade credit and lending technologies. We further analyze the mechanisms driving the association between odd couples and trade credit use. Regression results suggest that the positive association is particularly significant for firms with more market power, not “captured” by their primary bank, and located in areas with high levels of social capital.Lire moins >
Lire la suite >One of the most crucial obstacles for small- and medium-sized enterprises is access to credit primarily because of their high opacity. The existing literature underlines that relationship banks specialize in analyzing opaque firms, thereby allowing them better access to credit; however, what can opaque firms do if they cannot find a relationship bank? By using an Italian database, with more than 900 firms, we reveal that when opaque firms deal with transactional banks (the “odd couples”), they use a greater portion of trade credit. This result is robust to alternative measures of trade credit and lending technologies. We further analyze the mechanisms driving the association between odd couples and trade credit use. Regression results suggest that the positive association is particularly significant for firms with more market power, not “captured” by their primary bank, and located in areas with high levels of social capital.Lire moins >
Langue :
Anglais
Vulgarisation :
Non
Collections :
Source :