Artículo de investigación: Trade Credit, the Financial Crisis, and SME Access to Finance
Autor: S. Carbó, F. Rodríguez y G. F. Udell
Título: Trade Credit, the Financial Crisis, and SME Access to Finance
Fuente: Journal of Money, Credit and Banking
Resumen: Mounting evidence indicates that firms, particularly SMEs, suffered from a significant credit crunch during this crisis. We analyze for the first time whether trade credit provided an alternative source of external finance to SMEs during the crisis. Using firm-level Spanish data we find that credit constrained SMEs depend on trade credit, but not bank loans, and that the intensity of this dependence increased during the financial crisis. Unconstrained firms, in contrast, are dependent on bank loans but not on trade credit.
Ver artículo
Cómo citar este artículo:
Carbó, S., F. Rodríguez y G. F. Udell (2016): "Trade Credit, the Financial Crisis, and SME Access to Finance", Journal of Money, Credit and Banking, 48(1), febrero, pp. 113-143.