Structural break between small and large firms' behaviour in trade credit and bank credit: evidence from India's retail sector

被引：2

作者：

Lahiri, Bidisha ^{[1
]}

Tian, Xi ^{[1
]}

机构：

[1] Oklahoma State Univ, Dept Econ, Spears Sch Business, Stillwater, OK 74078 USA

来源：

APPLIED ECONOMICS LETTERS | 2013年 / 20卷 / 02期

关键词：

firm size; credit constraints; bank credit; trade credit; structural break;

D O I：

10.1080/13504851.2012.689105

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This article recognizes the simultaneity of firms' decision in choosing between the various options of external financing. Additionally, the analysis allows the combination of bank finance and trade credit finance to vary with the firm's size even when all the firms are operating within the same financial infrastructure. We use cross-sectional data for the retail sector in India and apply structural break analysis common to time-series analysis to a system of simultaneous equations to split the sample into small and large firms. We find that the smaller firms depend more strongly on trade credit than the larger firms. Bank credit is found to be strongly related with the proxy for available collateral for the small firms but not for the large firms indicating that the large firms are unconstrained with respect to bank credit.

引用

页码：199 / 202

页数：4

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