“…Differently, we focus on bank-intermediated trade finance, which is particularly relevant when the seller (exporter) is financially constrained. In the area of OM, our work is most related to the literature on OM-Finance interface (Babich and Sobel 2004, Boyabatlı and Toktay 2011, Yang et al 2015, Iancu et al 2017, Lai and Xiao 2018, Ning and Babich 2018, Luo and Shang 2019, Tanrisever et al 2021, Zhang et al 2022. This stream of literature has examined various forms of trade and supply chain finance, including trade credit (Babich and Tang 2012, Kouvelis and Zhao 2012, Peura et al 2017, Yang and Birge 2018, Chod et al 2019b, Chen et al 2020, receivables financing (Tunca and Zhu 2018, Hu et al 2018, Kouvelis and Xu 2021, purchase order financing (Tang et al 2018, Reindorp et al 2018, and logistics financing (Chen et al 2018).…”