债权,货币政策,金融危机,贸易信贷

IF 3.8 4区 管理学 Q2 BUSINESS Brq-Business Research Quarterly Pub Date : 2021-01-22 DOI:10.1177/2340944420988294
María Cantero-Sáiz, Begoña Torre-Olmo, Sergio Sanfilippo-Azofra
{"title":"债权,货币政策,金融危机,贸易信贷","authors":"María Cantero-Sáiz, Begoña Torre-Olmo, Sergio Sanfilippo-Azofra","doi":"10.1177/2340944420988294","DOIUrl":null,"url":null,"abstract":"This article analyses how creditor rights affect the trade credit channel of monetary policy. We also aim to test whether these effects were conditioned by the global financial crisis of 2008. Using a sample of 15,356 firms from 29 countries (2001–2017), we found that in normal times or in countries not very severely affected by the financial crisis, trade credit receivables increase during monetary restrictions. Moreover, this increase is less pronounced as creditor protection strengthens. In countries strongly affected by the financial crisis, however, trade credit receivables do not react or even decrease after monetary expansions, regardless of the degree of creditor protection. Furthermore, the results of trade credit payables and net trade credit are not conclusive. JEL CLASSIFICATION: E52; K22; G32","PeriodicalId":46891,"journal":{"name":"Brq-Business Research Quarterly","volume":null,"pages":null},"PeriodicalIF":3.8000,"publicationDate":"2021-01-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"1","resultStr":"{\"title\":\"Creditor rights, monetary policy, financial crisis, and trade credit\",\"authors\":\"María Cantero-Sáiz, Begoña Torre-Olmo, Sergio Sanfilippo-Azofra\",\"doi\":\"10.1177/2340944420988294\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"This article analyses how creditor rights affect the trade credit channel of monetary policy. We also aim to test whether these effects were conditioned by the global financial crisis of 2008. Using a sample of 15,356 firms from 29 countries (2001–2017), we found that in normal times or in countries not very severely affected by the financial crisis, trade credit receivables increase during monetary restrictions. Moreover, this increase is less pronounced as creditor protection strengthens. In countries strongly affected by the financial crisis, however, trade credit receivables do not react or even decrease after monetary expansions, regardless of the degree of creditor protection. Furthermore, the results of trade credit payables and net trade credit are not conclusive. JEL CLASSIFICATION: E52; K22; G32\",\"PeriodicalId\":46891,\"journal\":{\"name\":\"Brq-Business Research Quarterly\",\"volume\":null,\"pages\":null},\"PeriodicalIF\":3.8000,\"publicationDate\":\"2021-01-22\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"1\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Brq-Business Research Quarterly\",\"FirstCategoryId\":\"91\",\"ListUrlMain\":\"https://doi.org/10.1177/2340944420988294\",\"RegionNum\":4,\"RegionCategory\":\"管理学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q2\",\"JCRName\":\"BUSINESS\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Brq-Business Research Quarterly","FirstCategoryId":"91","ListUrlMain":"https://doi.org/10.1177/2340944420988294","RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"BUSINESS","Score":null,"Total":0}
引用次数: 1

摘要

本文分析了债权对货币政策贸易信贷渠道的影响。我们还旨在检验这些影响是否受到2008年全球金融危机的制约。我们使用了来自29个国家(2001-2017年)的15356家公司的样本,发现在正常时期或受金融危机影响不太严重的国家,在货币限制期间,贸易信用应收账款增加。此外,随着债权人保护的加强,这种增长不那么明显。然而,在受金融危机严重影响的国家,无论对债权人的保护程度如何,在货币扩张之后,应收贸易信贷不会作出反应,甚至会减少。此外,应付贸易信贷和净贸易信贷的结果并不是决定性的。凝胶分类:e52;K22;G32
本文章由计算机程序翻译,如有差异,请以英文原文为准。
查看原文
分享 分享
微信好友 朋友圈 QQ好友 复制链接
本刊更多论文
Creditor rights, monetary policy, financial crisis, and trade credit
This article analyses how creditor rights affect the trade credit channel of monetary policy. We also aim to test whether these effects were conditioned by the global financial crisis of 2008. Using a sample of 15,356 firms from 29 countries (2001–2017), we found that in normal times or in countries not very severely affected by the financial crisis, trade credit receivables increase during monetary restrictions. Moreover, this increase is less pronounced as creditor protection strengthens. In countries strongly affected by the financial crisis, however, trade credit receivables do not react or even decrease after monetary expansions, regardless of the degree of creditor protection. Furthermore, the results of trade credit payables and net trade credit are not conclusive. JEL CLASSIFICATION: E52; K22; G32
求助全文
通过发布文献求助,成功后即可免费获取论文全文。 去求助
来源期刊
CiteScore
7.50
自引率
6.90%
发文量
14
期刊最新文献
Strategic supplier performance in a competitive landscape: Enhancing organizational performance through lean supply chain management Leading a post-pandemic workforce: Understanding employees’ changing work ethic How to improve quality investing Uncertainty’s impact on adaptive performance in the post-COVID era: The moderating role of perceived leader’s effectiveness Strategy-making: The use and misuse of artifacts to achieve common understanding
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
×
提示
您的信息不完整,为了账户安全,请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
现在去查看 取消
×
提示
确定
0
微信
客服QQ
Book学术公众号 扫码关注我们
反馈
×
意见反馈
请填写您的意见或建议
请填写您的手机或邮箱
已复制链接
已复制链接
快去分享给好友吧!
我知道了
×
扫码分享
扫码分享
Book学术官方微信
Book学术文献互助
Book学术文献互助群
群 号:481959085
Book学术
文献互助 智能选刊 最新文献 互助须知 联系我们:info@booksci.cn
Book学术提供免费学术资源搜索服务,方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。
Copyright © 2023 Book学术 All rights reserved.
ghs 京公网安备 11010802042870号 京ICP备2023020795号-1