The Days to Pay Accounts Payable Determinants - Financing, Pricing Motives and Financial Substitution Effect - A Panel Data GMM Estimation from European Western Countries

2010 ◽  
Author(s):  
Justino Manuel Oliveira Marques
Keyword(s):  
Panel Data ◽  
Substitution Effect ◽  
Gmm Estimation ◽  
Western Countries ◽  
Accounts Payable

GMM estimation of linear panel data models with time-varying individual effects

2001 ◽  
Vol 101 (2) ◽  
pp. 219-255 ◽  
Author(s):  
Seung Chan Ahn ◽  
Young Hoon Lee ◽  
Peter Schmidt
Keyword(s):  
Panel Data ◽  
Data Models ◽  
Panel Data Models ◽  
Time Varying ◽  
Gmm Estimation ◽  
Individual Effects

Trade Credit and the Effect of Macro-Financial Shocks: Evidence from U.S. Panel Data

2005 ◽  
Vol 40 (4) ◽  
pp. 897-925 ◽  
Author(s):  
Woon Gyu Choi ◽  
Yungsan Kim
Keyword(s):  
Monetary Policy ◽  
Panel Data ◽  
Trade Credit ◽  
Comparison Group ◽  
Large Firms ◽  
Financial Shocks ◽  
Accounts Receivable ◽  
Accounts Payable

AbstractUsing disaggregated panel data, we examine how firms change trade credit in response to a monetary tightening. We find that both accounts payable and accounts receivable increase with tighter monetary policy, implying that trade credit helps firms absorb the effect of a credit contraction. Further, both S&P 500 firms and a comparison group of smaller firms increase net trade credit (accounts receivable minus payable), making up for the reduced liquidity associated with tighter policy. However, we find no evidence that large firms play this role more actively than smaller firms.

Sign in / Sign up

Export Citation Format

Share Document