KESTENS, K.; CAUWENBERGE, P. VAN; BAUWHEDE, H. VANDER - Faculteit Economie en Bedrijfskunde, Universiteit Gent - 2011
We investigate whether the 2008 financial crisis had an impact on companies’ trade credit, and whether changes in trade credit mitigated the crisis’ impact on firm profitability. We document that the availability of trade credit decreased, and that this decline is more pronounced, the higher...