National culture and small firms' use of trade credit: Evidence from Europe

被引：10

作者：

Moro, Andrea ^{[1
]}

Belghitar, Yacine ^{[1
]}

Mateus, Cesario ^{[2
]}

机构：

[1] Cranfield Univ, Coll Rd, Cranfield MK43 0AL, Beds, England

[2] Aalborg Univ, Business Sch, Fibigerstr 2-32, DK-9220 Aalborg, Denmark

来源：

GLOBAL FINANCE JOURNAL | 2021年 / 49卷

关键词：

Trade credit; Culture; SMEs; Bank credit; Financial flexibility; BANKING RELATIONSHIPS; LENDING RELATIONSHIPS; LOAN MANAGERS; PANEL-DATA; INFORMATION; ACCESS; TRUST; EMBEDDEDNESS; INVESTMENT; ECONOMICS;

D O I：

10.1016/j.gfj.2021.100655

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

We examine the use of trade credit in Western Europe by relying on a sample of 182,296 small firms for the period 2003-2013. Building on information asymmetry theory, we explore how a country's culture can impact SMEs use of trade credit. We discover that countries' cultural norms play a key role in explaining trade credit differences in Europe. We find that in countries with high power distance, high individualism, high masculinity, and high uncertainty avoidance rely more on trade credit.

引用

页数：20

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