Fleischman, Tomaž; Dini, Paolo; Littera, Giuseppe - In: Journal of risk and financial management : JRFM 13 (2020) 12/295, pp. 1-30
During financial crises, liquidity tends to become scarce, a problem that disproportionately affects small companies. This paper shows that obligation-clearing is a very effective liquidity-saving method for providing relief in the trade credit market and, therefore, on the supply-side or...