Publication: Investment in trade credit in small business start-ups: Evidence from Spain during a financial crisis
Authors
Baños Caballero, Sonia ; García Teruel, Pedro Juan
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Facultades, Departamentos, Servicios y Escuelas::Departamentos de la UMU::Economía Financiera y Contabilidad
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Publisher
Taylor and Francis Group
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DOI
https://doi.org/10.1080/00036846.2022.2086685
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info:eu-repo/semantics/article
Description
© 2022. Taylor and Francis Group. This manuscript version is made available under the CC-BY-NC 4.0 license http://creativecommons.org/licenses/by-nc/4.0/.
This document is the Accepted version of a published Work that appeared in final form in Applied Economics. To access the final edited and published work see https://doi.org/10.1080/00036846.2022.2086685
Abstract
This study analyses start-up firms’ investment in trade credit during the period 2011-2014. We find that new or recently created firms had greater investments in trade credit than established firms. Moreover, the results indicate that start-up firms’ investment in trade credit did not depend on their bargaining power or access to external finance. These findings suggest that the reason start-ups invested more in accounts receivable than established firms could be due to late payments or their granting credit to low-quality customers who cannot obtain credit from established firms.
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Citation
Applied Economics, 55(3), pp 273-282. 2023.
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