Empirical evidence of trade credit uses of Brazilian publicly-listed companies

Detalhes bibliográficos
Autor(a) principal: Saito,Richard
Data de Publicação: 2010
Outros Autores: Bandeira,Márcia Lima
Tipo de documento: Artigo
Idioma: eng
Título da fonte: BAR - Brazilian Administration Review
Texto Completo: http://old.scielo.br/scielo.php?script=sci_arttext&pid=S1807-76922010000300003
Resumo: While trade credit may be used as a substitute for bank loans, we find empirical evidence that listed firms do use bank debt and trade credit as two complementary sources of financing in line with recent theoretical papers (e.g. Biais & Gollier, 1997) and evidence found in other empirical works (e.g. Alphonse, Ducret, & Séverin, 2006). By using a sample of 263 publicly-listed companies from 2006, our findings empirically support that trade credit may be used as (i) a sign of the firm’s quality, and (ii) a way of facilitating access to bank debt as trade credit seems to be a substitute for bank debt.
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spelling Empirical evidence of trade credit uses of Brazilian publicly-listed companiestrade creditpublic-listed companiessources of financingdebtWhile trade credit may be used as a substitute for bank loans, we find empirical evidence that listed firms do use bank debt and trade credit as two complementary sources of financing in line with recent theoretical papers (e.g. Biais & Gollier, 1997) and evidence found in other empirical works (e.g. Alphonse, Ducret, & Séverin, 2006). By using a sample of 263 publicly-listed companies from 2006, our findings empirically support that trade credit may be used as (i) a sign of the firm’s quality, and (ii) a way of facilitating access to bank debt as trade credit seems to be a substitute for bank debt.ANPAD - Associação Nacional de Pós-Graduação e Pesquisa em Administração2010-09-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersiontext/htmlhttp://old.scielo.br/scielo.php?script=sci_arttext&pid=S1807-76922010000300003BAR - Brazilian Administration Review v.7 n.3 2010reponame:BAR - Brazilian Administration Reviewinstname:Associação Nacional de Pós-Graduação e Pesquisa em Administração (ANPAD)instacron:ANPAD10.1590/S1807-76922010000300003info:eu-repo/semantics/openAccessSaito,RichardBandeira,Márcia Limaeng2010-08-12T00:00:00Zoai:scielo:S1807-76922010000300003Revistahttp://www.scielo.br/scielo.php?script=sci_serial&pid=1807-7692&lng=pt&nrm=isohttps://old.scielo.br/oai/scielo-oai.php||bar@anpad.org.br1807-76921807-7692opendoar:2010-08-12T00:00BAR - Brazilian Administration Review - Associação Nacional de Pós-Graduação e Pesquisa em Administração (ANPAD)false
dc.title.none.fl_str_mv Empirical evidence of trade credit uses of Brazilian publicly-listed companies
title Empirical evidence of trade credit uses of Brazilian publicly-listed companies
spellingShingle Empirical evidence of trade credit uses of Brazilian publicly-listed companies
Saito,Richard
trade credit
public-listed companies
sources of financing
debt
title_short Empirical evidence of trade credit uses of Brazilian publicly-listed companies
title_full Empirical evidence of trade credit uses of Brazilian publicly-listed companies
title_fullStr Empirical evidence of trade credit uses of Brazilian publicly-listed companies
title_full_unstemmed Empirical evidence of trade credit uses of Brazilian publicly-listed companies
title_sort Empirical evidence of trade credit uses of Brazilian publicly-listed companies
author Saito,Richard
author_facet Saito,Richard
Bandeira,Márcia Lima
author_role author
author2 Bandeira,Márcia Lima
author2_role author
dc.contributor.author.fl_str_mv Saito,Richard
Bandeira,Márcia Lima
dc.subject.por.fl_str_mv trade credit
public-listed companies
sources of financing
debt
topic trade credit
public-listed companies
sources of financing
debt
description While trade credit may be used as a substitute for bank loans, we find empirical evidence that listed firms do use bank debt and trade credit as two complementary sources of financing in line with recent theoretical papers (e.g. Biais & Gollier, 1997) and evidence found in other empirical works (e.g. Alphonse, Ducret, & Séverin, 2006). By using a sample of 263 publicly-listed companies from 2006, our findings empirically support that trade credit may be used as (i) a sign of the firm’s quality, and (ii) a way of facilitating access to bank debt as trade credit seems to be a substitute for bank debt.
publishDate 2010
dc.date.none.fl_str_mv 2010-09-01
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://old.scielo.br/scielo.php?script=sci_arttext&pid=S1807-76922010000300003
url http://old.scielo.br/scielo.php?script=sci_arttext&pid=S1807-76922010000300003
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv 10.1590/S1807-76922010000300003
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv text/html
dc.publisher.none.fl_str_mv ANPAD - Associação Nacional de Pós-Graduação e Pesquisa em Administração
publisher.none.fl_str_mv ANPAD - Associação Nacional de Pós-Graduação e Pesquisa em Administração
dc.source.none.fl_str_mv BAR - Brazilian Administration Review v.7 n.3 2010
reponame:BAR - Brazilian Administration Review
instname:Associação Nacional de Pós-Graduação e Pesquisa em Administração (ANPAD)
instacron:ANPAD
instname_str Associação Nacional de Pós-Graduação e Pesquisa em Administração (ANPAD)
instacron_str ANPAD
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reponame_str BAR - Brazilian Administration Review
collection BAR - Brazilian Administration Review
repository.name.fl_str_mv BAR - Brazilian Administration Review - Associação Nacional de Pós-Graduação e Pesquisa em Administração (ANPAD)
repository.mail.fl_str_mv ||bar@anpad.org.br
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