内容提要: 本文从生产函数的角度检验商业信用通过什么机制影响何种效率,
文章提出一个区别于以往文献的两阶段计量分析方法: 在第一阶段, 以我国176 家上市公司1999 …

Effects of working capital management on SME profitability | Emerald Insight Books and
journals Case studies Expert Briefings Open Access Publish with us Advanced search Effects …

Purpose–This paper aims to examine the influence of cash flow on the relationship between
net working capital and firm performance. Design/methodology/approach–The paper uses …

Business start‐ups provide an excellent opportunity for testing various hypotheses on why
firms use trade credit. At the time of start‐up, failure risk and financial constraints are typically …

Recently, an increasing number of papers have investigated the role of trade credit as an
external source of finance when analyzing the monetary transmission mechanism. These …

This paper explores the substitution relationship between trade credit and bank credit, and
its counter-cyclic dynamic pattern through economic cycles. We propose a new theoretical …

The paper presents comprehensive evidence on the relationship between working capital
management (WCM) and SMEs' performance by taking into consideration of the plausible …

The importance of short-term financial decisions to company's value is considered by testing
the following hypotheses: an extra euro invested in cash or in net working capital is valued …

Italian firms are top users of trade credit in an international comparison. The paper offers
some clues to the determinants of this stylized fact exploiting the answers of about 1900 …

The ubiquity of bank seniority is now a widely accepted fact in the academic literature. At the
same time, trade creditors are sometimes granted a purchase money security interest in the …