Analisis multivariante sobre el credito comercial para una muestra de PYMES canarias

Abstract

This paper contributes to trade credit study by using a sample of firms located in the Canary Islands. The Data Set of the University of La Laguna (CBULL) is specially suitable, since it only includes medium and small size firms. By using multivariate analyses, the results show trade credit as a way of reducing information asymmetries between the firm and its financial partners. Likewise, the more trade credit given to customers the less trade credit received from suppliers, informing about the access to credit markets. Eventually, trade credit and bank credit can be seen either two alternatives or complementary ways of financing, depending on the firm economic and financial characteristics.