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Ex ante bargaining and ex post enforcement in trade credit supply: theory and evidence from China
https://doi.org/10.20561/00037888
https://doi.org/10.20561/000378881c588f7c-7eb3-47bc-85e4-e42002aa78f4
| 名前 / ファイル | ライセンス | アクション |
|---|---|---|
本文 (681.1 kB)
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| Item type | アジ研テクニカルレポート / IDE Technical Report(1) | |||||
|---|---|---|---|---|---|---|
| 公開日 | 2011-03-02 | |||||
| タイトル | ||||||
| タイトル | Ex ante bargaining and ex post enforcement in trade credit supply: theory and evidence from China | |||||
| 言語 | ||||||
| 言語 | eng | |||||
| 資源タイプ | ||||||
| 資源タイプ識別子 | http://purl.org/coar/resource_type/c_18gh | |||||
| 資源タイプ | technical report | |||||
| ID登録 | ||||||
| ID登録 | 10.20561/00037888 | |||||
| ID登録タイプ | JaLC | |||||
| 著者 |
Watanabe, Mariko
× Watanabe, Mariko× Yanagawa, Noriyuki |
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| 著者別名 | ||||||
| 値 | 渡邉, 真理子 | |||||
| 著者別名 | ||||||
| 値 | 柳川, 範之 | |||||
| 抄録 | ||||||
| 内容記述タイプ | Abstract | |||||
| 内容記述 | If payment of goods is easily default, economic transaction may deeply suffer from the risk. This risky environment formed a mechanism that governs how economic transaction is realized, subsequently how trade credit is given. This paper distinguished ex ante bargaining and ex post enforcement, then modeled that bargaining power reduces trade credit ex ante, and ex post enforcement power and cash in hand of buyer can enhances both trade amount and trade credit in a presence of default risk. We modeled this relationship in order to organize findings from previous literature and from our original micro data on detailed transaction in China to consistently understand the mechanism governing trade credit. Then empirically tested a structure from the theoretical prediction with data. Results show that ex post enforcement power of seller mainly determines size of trade credit and trade amount, cash in hand of buyer can substitute with enforcement power; Bargaining power of seller is exercised to reduces trade credit and trade amount for avoiding default risk, but it simultaneously improves enforcement power as well. We found that ex post enforcement power consists of (ex ante) bargaining power on between two parties and intervention from the third party. However, its magnitude is far smaller than the direct impact to reduce trade credit and trade amount. | |||||
| 権利 | ||||||
| 権利情報 | Copyrights 日本貿易振興機構（ジェトロ）アジア経済研究所 / Institute of Developing Economies, Japan External Trade Organization (IDE-JETRO) http://www.ide.go.jp | |||||
| 収録情報 |
IDE Discussion Paper en : IDE Discussion Paper 巻 279, 発行日 2011-02 |
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| 出版者 | ||||||
| 出版者 | Institute of Developing Economies (IDE-JETRO) | |||||
| 著者版フラグ | ||||||
| 出版タイプ | VoR | |||||
| 出版タイプResource | http://purl.org/coar/version/c_970fb48d4fbd8a85 | |||||
| 日本十進分類法 | ||||||
| 主題Scheme | NDC | |||||
| 主題 | 336.820222 | |||||
| JEL分類 | ||||||
| 主題Scheme | Other | |||||
| 主題 | JEL:E41 - Demand for Money | |||||
| JEL分類 | ||||||
| 主題Scheme | Other | |||||
| 主題 | JEL:G2 - Financial Institutions and Services | |||||
| JEL分類 | ||||||
| 主題Scheme | Other | |||||
| 主題 | JEL:K0 - General | |||||
| JEL分類 | ||||||
| 主題Scheme | Other | |||||
| 主題 | JEL:M41 - Accounting | |||||
| JEL分類 | ||||||
| 主題Scheme | Other | |||||
| 主題 | JEL:O5 - Economywide Country Studies | |||||
| JEL分類 | ||||||
| 主題Scheme | Other | |||||
| 主題 | JEL:O53 - Asia including Middle East | |||||
| JEL分類 | ||||||
| 主題Scheme | Other | |||||
| 主題 | JEL:P31 - Socialist Enterprises and Their Transitions | |||||
| 地域/国名 | ||||||
| 位置情報（自由記述） | 中国 | |||||
| キーワード(LSH) | ||||||
| 主題Scheme | Other | |||||
| 主題 | China | |||||
| キーワード(LSH) | ||||||
| 主題Scheme | Other | |||||
| 主題 | Corporate accounting | |||||
| キーワード(LSH) | ||||||
| 主題Scheme | Other | |||||
| 主題 | Industrial management | |||||
| キーワード(LSH) | ||||||
| 主題Scheme | Other | |||||
| 主題 | Trade credit | |||||
| キーワード(LSH) | ||||||
| 主題Scheme | Other | |||||
| 主題 | Enforcement power | |||||
| キーワード(LSH) | ||||||
| 主題Scheme | Other | |||||
| 主題 | Bargaining power | |||||
| キーワード(LSH) | ||||||
| 主題Scheme | Other | |||||
| 主題 | Cash constraint | |||||
| キーワード(LSH) | ||||||
| 主題Scheme | Other | |||||
| 主題 | Competition in product market | |||||
| フォーマット | ||||||
| 内容記述タイプ | Other | |||||
| 内容記述 | application/pdf | |||||
| DIG_NO | ||||||
| 内容記述タイプ | Other | |||||
| 内容記述 | IDP000279_001 | |||||
