shorter maturity credit lines than large firms; (ii) have less active maturity management and therefore frequently have … expiring credit; (iii) post more collateral on both credit lines and term loans; (iv) have higher utilization rates in normal … recession. Consistent with the theory, the increase in bank credit in 2020:Q1 and 2020:Q2 came almost entirely from drawdowns by …

We study the role of trade credit in enhancing the resilience of financially constrained firms from 2010 to 2017 … by trade credit is quite robust to controlling for relevant factors and employing various estimation techniques. While … environment that promotes trade credit flows among firms as a second-best alternative to bank financing. …

credit ratings in Sweden as a measure of financial constraints. We then use panel regressions and a regression …-discontinuity analysis to estimate the relationship between access to credit and cash holdings. Our analysis finds no causal effect of credit …

We study 52 million trade credit contracts, issued by 51 suppliers over 9 years to about 199,000 unique customers. The … analysis contradicts the conventional view that trade credit is an inferior source of funding. Specifically, while we replicate … rather than smaller trade credit usage. In fact, customers' financial conditions are unrelated to agreed contract duration …