This is likely explained by the fact that the effects of aggregate 39 supply and demand are captured. Only the individual demand effects of households and their links to collateral value and the down payment amount remain. These elements are probably too distant from the anticipation and ...
Available at http://ec.europa.eu/eurostat/statistics-explained/index.php/Industry_and_services_statistics_introduced#Small_businesses_and_entrepreneurship. Credit lines are particularly important for corporations, as evidenced by Sufi (2009), who finds that 85% of the US firms he analysed had a ...
In other words, it may be that the expected positive relationship between CSR and trade credit is, basically, explained by only some of the CSR dimensions. The recent literature that links CSR and trade credit has primarily used a global view of such sustainable practices. There is scarce ...
15 For example, in a Special Comment covering the default and loss experiences of all structured finance asset classes worldwide, "Default & Loss Rates of Structured Finance Securities: 1993-2004," Moody's explained the connection between the higher-than-expected default and loss rates in the ...
However, only a small part of the financial crisis’ effects on the relations between trade credit and upstreamness, centrality, and financial constraints can be explained by the exposure of firms’ profit margins to the financial crisis. Overall, our results suggest that financing capacity is a ...
Finally, we take further steps by employing DD regression analysis as well as PSM method to deal with confounding variables as explained in Sections 4.2 and 4.3. 4.2. Difference-in-difference (DD) regression To minimize any potential endogeneity concern, we estimate the following DD regression for...
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These results are plausibly explained by a demand-driven story: when bank credit access gets increasingly difficult, or when financial health deteriorates, the demand for trade credit increases. Similarly, when financial development increases, firms have better access to bank credit, and impact of ...
(2018) show that differences in the price of mortgage credit based on race and ethnicity can be explained by certain borrowers matching with high-cost lenders. Similarly, high-profile US Department of Justice cases were brought against various banks over differentials in the mortgage credit prices ...
“explained part” of the variability in financing constraints. Even if the role of unknown and unmeasured firm-specific factors is dominant, there is still a significant wrole for policy at the country level to ease financing constraints on firms. Therefore, in what follows, we try to assess...