El crédito comercial en la empresa canariauna aplicacion del system estimator con datos de panel

  1. Olga María Rodríguez Rodríguez
Journal:
Documentos de Trabajo Conjuntos: Facultades de Ciencias Económicas y Empresariales

Year of publication: 2003

Issue: 10

Pages: 1-28

Type: Working paper

Abstract

Trade credit determinants are obtained from a panel of firms located in the Canary Islands from 1990 to 1996. Using panel data methodology, results show trade credit as a way of reducing information asymmetries between firm and its financial partners. Moreover, trade credit seems to be a way of reducing transaction costs as well. The results of our study show that the behavior of firms located in the Canary Islands regarding trade credit use are similar to those found from Spanish firms in related literature. Nevertheless, an industrial effect appears in our paper which is not present in earlier studies.