| 000 -LEADER |
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| fixed length control field |
01691nam a22001577a 4500 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION |
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| fixed length control field |
211028b ||||| |||| 00| 0 eng d |
| 100 ## - MAIN ENTRY--PERSONAL NAME |
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| Personal name |
Kumar, Nitin et al |
| 245 ## - TITLE STATEMENT |
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| Title |
An analysis of trade credit behaviour of Indian firms |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT) |
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| Place of publication, distribution, etc |
South Asia Economic Journal |
| 300 ## - PHYSICAL DESCRIPTION |
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| Extent |
22(1), Mar, 2021: p.132-154 |
| 520 ## - SUMMARY, ETC. |
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| Summary, etc |
Trade credit transactions are quite common for businesses. The article carries out the trade credit analysis for an emerging economy, namely Indian corporate sector employing rich information dataset covering multiple industries such as manufacturing, services, construction and others, since the period of financial crisis including both firm specific and macro-economic factors. The annual dataset spans 13 years from 2006 to 2018 covering the crisis period. Applying dynamic panel framework, it is found that the inventory management and macro indicators are significant in determining trade credit for Indian firms. While trade payable is chiefly driven by raw material inventory, firms having reasonable stock of raw or finished goods inventory are less likely to offer trade credit. Large-sized firms are found to be both leading consumers and suppliers of the trade credit. The pecking order theory is clearly validated with net profits being preferred over the trade credit that is a more expensive source of finance. Credit from formal financial sources is found to act as a substitute to trade credit borrowing.- Reproduced
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| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM |
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| Topical term or geographic name as entry element |
Trade credit, Corporate finance, Bank borrowing, Macro economy, Panel data, Generalized method of moments |
| 9 (RLIN) |
28308 |
| 773 ## - HOST ITEM ENTRY |
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| Main entry heading |
South Asia Economic Journal |
| 906 ## - LOCAL DATA ELEMENT F, LDF (RLIN) |
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| Subject DIP |
TRADE CREDIT |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) |
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| Item type |
Articles |
