haku: @indexterm terms of trade / yhteensä: 22
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| Tekijä: | Pike, R. (et al.) |
| Otsikko: | Trade credit terms: Asymmetric information and price discrimination. Evidence from three continents |
| Lehti: | Journal of Business Finance and Accounting
2005 : JUN/JUL, VOL 32:5-6, p. 1197-1236 |
| Asiasana: | Finance Markets Terms of trade Credit Price discrimination Asymmetric information Theories International |
| Kieli: | eng |
| Tiivistelmä: | Trade credit (hereafter as: cr.) terms offer firms contractual solutions to informational asymmetries btw. buyers and sellers. The cr. period permits buyers to reduce uncertainty (here as: unc.) concerning product quality prior to payment (here as: pmt.), while the seller can reduce unc. on buyer pmt. intentions by prescribing pmt. before/on delivery or through two-part pmt. terms and other mechanisms. Variation in trade cr. terms also offers firms price discriminating opportunities. Based on the responses of 700 large firms in the U.S., U.K. and Australia, this study explores trade cr. terms through the twin objectives of reducing information asymmetries and discriminatory pricing. There is support found for both theories. |
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