TRADE CREDIT IN ITALY: FINANCING TO SELL

Yıl 2016, , 318 - 338, 30.09.2016

Candida Bussoli Claudio Giannotti

https://doi.org/10.17261/Pressacademia.2016321975

Öz

The analysis considers Italian SMEs and investigates,
over the years 2006-2011, the existence of interdependencies between trade
credit policy and trade debt policy and the co-existence of conditions of
complementarity and substitutability between trade credit and other financing
sources. Linear regression models on a yearly basis are used and these models
are put under observation for six years.The paper shows that there are
interdependencies between trade credit policy and trade debt policy; trade
credit can be a complementary and substitute source of financing to bank loans;
conditions of substitutability and complementarity can also be observed by
considering separately firms involved in agricultural or industrial activities
and firms that perform services. 

Anahtar Kelimeler

Trade credit, trade debt, bank-firm relationship, SMEs, intercompany financing

Kaynakça

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