A Simple Theory of Trade, Finance and Firm Dynamics
نویسندگان
چکیده
منابع مشابه
In–Kind Finance: A Theory of Trade Credit
It is typically less profitable for an opportunistic borrower to divert inputs than to divert cash. Therefore, suppliers may lend more liberally than banks. This simple argument is at the core of our contract theoretic model of trade credit in competitive markets. The model implies that trade credit and bank credit can be either complements or substitutes. Among other things, the model explains...
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ژورنال
عنوان ژورنال: Review of International Economics
سال: 2013
ISSN: 0965-7576
DOI: 10.1111/roie.12108