Why do firms invest in accounts receivable? An empirical investigation of the Malaysian manufacturing sector
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چکیده
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15 صفحه اولThe Economics of Factoring Accounts Receivable
A moral hazard problem develops when a factor cannot contract upon a seller’s ex-post level of credit management. Because of the deleterious price impact of the moral hazard problem, sellers with a sufficiently high bankruptcy risk may be unable to factor their entire accounts receivable pool, even though they offer recourse. The structure of the equilibrium factoring contract is empirically te...
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ژورنال
عنوان ژورنال: Journal of Accounting in Emerging Economies
سال: 2018
ISSN: 2042-1168
DOI: 10.1108/jaee-01-2017-0005