Similar Search Results

Comparative advantage and pathways to financial development: Evidence from Japan's silk-reeling industry

Hoffmann, Mathias; Okubo, Toshihiro - 2021

We exploit the natural experiment of Japan's opening to international trade to examine how comparative advantage can … shape a country's long-run path towards financial development. In the late 19th century, many of Japan's prefectures had a …

Persistent link: https://www.econbiz.de/10012523363

Availability of firms' information and their choice of external credit: Evidence from the data of small firms

Watanabe, Wako - 2004

The main purpose of this paper is to present the empirical findings derived from the data of small firms that the availability of private and public information on the borrowing firm leads to diverse borrowing patterns among firms. Exploring logit models to characterize the firm's choice of a...

Persistent link: https://www.econbiz.de/10010332416

Credit chains and the propagation of financial distress

Boissay, Frédéric - 2006

The purpose of this paper is to analyze how shocks propagate through a network of firms that borrow from, and lend to, each other in a trade credit chain, and to quantify the effects of financial contagion across firms. I develop a theoretical model of financial contagion, in which the default...

Persistent link: https://www.econbiz.de/10011604619

Trade credit defaults and liquidity provision by firms

Boissay, Frédéric; Gropp, Reint E. - 2007

Using a unique data set on trade credit defaults among French firms, we investigate whether and how trade credit is used to relax financial constraints. We show that firms that face idiosyncratic liquidity shocks are more likely to default on trade credit, especially when the shocks are...

Persistent link: https://www.econbiz.de/10011604799

Trade Credit and the Bank Lending Channel

Nilsen, Jeffrey H. - 1999

The bank lending channel theory posits that during monetary contractions banks restrict some firms' loans, thus reducing their desired investment independently of interest rates. Previous research finds small firms reduce, while large firms accelerate, loan growth. We find that small firms...

Persistent link: https://www.econbiz.de/10011430008

Trade credit and the propagation of corporate failure: An empirical analysis

Jacobsen, Tor; von Schedvin, Erik - 2012

We quantify the importance of trade credit chains for the propagation of corporate bankruptcies. Our results show that trade creditors (suppliers) that issue more trade credit are more exposed to trade debtor (customer) failures, both in terms of the likelihood of experiencing a debtor failure...

Persistent link: https://www.econbiz.de/10010320754

Innovation, credit constraints, and trade credit: Evidence from a cross-country study

Bönte, Werner; Nielen, Sebastian - 2010

This paper studies the relationship between trade credit and innovation. While trade credit is well researched in the finance literature, its link to innovation has been neglected in prior research. We argue that innovative small and medium-sized enterprises (SMEs) are more likely to use trade...

Persistent link: https://www.econbiz.de/10010291119

"By a silken thread": Regional banking integration and pathways to financial development in Japan's Great Recession

Hoffmann, Mathias; Okubo, Toshihiro - 2012

How do financial development and financial integration interact? We focus on Japan's Great Recession after 1990 to … reference to prefectures' different historical pathways to financial development. After Japan's opening to trade in the 19th …, the main export hub for silk, provided silk reelers with trade loans. Many regional banks in Japan were founded as local …

Persistent link: https://www.econbiz.de/10010316944

'By a silken thread': Regional banking integration and pathways to financial development in Japan's Great Recession

Hoffmann, Mathias; Okubo, Toshihiro - 2013

Persistent link: https://www.econbiz.de/10010291560

Relationship banking within the Irish SME sector and its implication

Hanley, Aoife; O'Donohoe, Sheila - 2009

Relationship banking involves the provision of financial services by an intermediary that a) invests in obtaining customer-specific information, often proprietary in nature; and b) evaluates the profitability of these investments through multiple interactions with the same customer over time...

Persistent link: https://www.econbiz.de/10010265257

1
2
3
4
5
6
7
8
9
10
Next
Last