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| Tekijä: | Deloof, M. Jegers, M. |
| Otsikko: | Trade credit, corporate groups, and the financing of Belgian firms |
| Lehti: | Journal of Business Finance and Accounting
1999 : SEP/OCT, VOL. 26:7-8, p. 945-966 |
| Asiasana: | Corporate finance Credit Belgium Europe |
| Kieli: | eng |
| Tiivistelmä: | The role of trade credit as a source of financing is investigated. There is a sample of 661 large non-financial Belgian firms for the 1989-1991 period used. It is found that the amount of trade credit a buyer takes is determined by his need for funds and the internally available funds. Trade credit is primarily used to finance short-term assets. As such, it seems to be important alternative not only for short-term bank debt but also for long-term financial debt. There is no evidence found that the amount of trade credit taken is influenced by affiliation with the supplier. |
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