| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w22286 |
| 来源ID | Working Paper 22286 |
| Curbing Shocks to Corporate Liquidity: The Role of Trade Credit | |
| Niklas Amberg; Tor Jacobson; Erik von Schedvin; Robert Townsend | |
| 发表日期 | 2016-05-30 |
| 出版年 | 2016 |
| 语种 | 英语 |
| 摘要 | Using data on exogenous liquidity losses generated by the fraud and failure of a cash-in-transit firm, we demonstrate a causal impact on firms’ trade credit usage. We find that firms manage liquidity shortfalls by increasing the amount of drawn credit from suppliers and decreasing the amount issued to customers. The compounded trade credit adjustments are at least as great, if not greater than corresponding adjustments in cash holdings, suggesting that trade credit positions are economically important sources of reserve liquidity. The underlying mechanism in trade credit adjustments is in part due to shifts in credit durations—both upstream and downstream. |
| 主题 | Microeconomics ; Households and Firms ; Financial Economics ; Corporate Finance |
| URL | https://www.nber.org/papers/w22286 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/579959 |
| 推荐引用方式 GB/T 7714 | Niklas Amberg,Tor Jacobson,Erik von Schedvin,et al. Curbing Shocks to Corporate Liquidity: The Role of Trade Credit. 2016. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w22286.pdf（456KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
