Does trade credit boost firm performance?
Publication in refereed journal


香港中文大学研究人员 ( 现职)

吴嘉豪教授 (经济学系)

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摘要Dongya Li, Yi Lu, Travis NG, and Jun Yang examine whether trade credit indeed boosts firm performance. Their ordinary least squares results show that trade credit is significantly and positively correlated with firm performance. However, using the instrumental variable approach to address endogeneity, they find that the statistical significance disappears. The results are robust to a series of robustness checks, casting doubt on the claim that trade credit boosts firm performance. Some firms have achieved good performance in developing countries where the financial sector is far from established. One explanation in the literature is that these firms benefit from trade credit, a form of informal financing.

着者Li D., Lu Y., Ng T., Yang J.
期刊名称Economic Development and Cultural Change
出版年份2http://aims.cuhk.edu.hk/converis/portal/Publication/016
月份4
日期1
卷号64
期次3
出版社University of Chicago Press
出版地United States
页次573 - 6http://aims.cuhk.edu.hk/converis/portal/Publication/02
国际标準期刊号http://aims.cuhk.edu.hk/converis/portal/Publication/0http://aims.cuhk.edu.hk/converis/portal/Publication/013-http://aims.cuhk.edu.hk/converis/portal/Publication/0http://aims.cuhk.edu.hk/converis/portal/Publication/079
语言英式英语