Determinants and effects of trade credit financing: Evidence from the maritime shipping industry
Elisavet Mantzari,
Anna Merika,
Christos Sigalas
Abstract:This paper investigates the factors and effects of trade credit, as an alternative source of capital, by employing a generalized method of moments instrumenting for endogeneity based on a panel data set of public maritime shipping companies and compatible companies in other industries. Our study shows that the magnitude of trade credit is affected by profitability, financial leverage, company size, cost of capital, financial distress, institutional ownership, corporate power, corporate liquidity, asset intensi… Show more
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