Trade credit is an important source of finance for firms and has been well researched, but the focus has been on financial trade-offs. In this paper, we consider the trade-offs with inventories and develop a simple model that recognizes the incentives a firm faces to offer and receive trade...

We investigate the empirical linkages between sales uncertainty and firms’ inventory investment behavior while controlling for firms’ financial strength. Using large panels of manufacturing firms from several European countries we find that higher sales uncertainty leads to larger stocks of...

This paper examines opposition towards immigration in Europe. Although we find evidence that both economic and non-economic variables shape attitudes towards the arrival of immigrants, the relative importance of these factors depends crucially on the race/ethnicity of the arriving immigrants. We...

Our paper focuses on testing the advantages in controlling the buyer and salvaging goods supplied where we have information on the nature of the transacted good and information on the inventory of buyers and sellers. We find transactions in specialized goods tend to be conducted more often using...

This paper provides a detailed empirical study on the use of advance payments by firms. It establishes that some trade credit theories can also be applied to prepayment. The results, obtained from a large panel dataset, suggest that a series of factors affect prepayments. First, financially...

type="main" xml:id="sjpe12051-abs-0001" <title type="main">Abstract</title> <p>This paper examines the main determinants of individual attitudes towards immigration in Europe. Our results suggest that both economic and non-economic variables shape attitudes towards immigration, but the relative importance of these factors...</p>

This paper provides the first detailed empirical study on the use of prepayments by firms. Our results based on large panels of French firms support the Daripa and Nilsen (2011) production subsidy theory of prepayment, according to which customers prepay their suppliers when these would...

We investigate the interaction between two terms of payment, supplier credit sales and customer advance payment. We find evidence that advance payments may signal customer creditworthiness and increase trade credit extension when we control for vendor size in international transactions or for...

We investigate the interaction between supplier credit sales and customer advance payment. We find evidence that advance payments and credit sales are used as complementary terms of payment in international trade and in transactions of differentiated goods.

We investigate the empirical linkages between sales uncertainty and firms' inventory investment behavior while controlling for firms' financial strength. Using large panels of manufacturing firms from several European countries we find that higher sales uncertainty leads to larger stocks of...