English, Article, Journal or magazine article edition: Does Trade Credit Provides Favorable Information to Banks? Evidence from Japan Takanori Tanaka

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Bookmark: http://trove.nla.gov.au/version/211855
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Does Trade Credit Provides Favorable Information to Banks? Evidence from Japan
Author
  • Takanori Tanaka
Physical Description
  • preprint
Notes
  • This article examines whether trade credit provides credible information about borrowerfs creditworthiness, thereby facilitating provision of bank credit. Using data on Japanese manufacturing firms over the period 1990-1995, our empirical analyses reveal that trade payables as a credible signal about borrowerfs creditworthiness facilitate the provision of short-term credit by less-informed banks. Consequently, in the firms that have armfs-length relations with banks, trade payables play an important role in mitigating asymmetric information problems between firms and banks, thereby facilitating extension of bank credit.
  • trade credit; bank credit
  • RePEc:osk:wpaper:0922
Language
  • English
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