Interenterprise Credit and Adjustment during Financial Crises: The Role of Firm Size
Fabrizio Coricelli
(1, 2)
,
Marco Frigerio
(3)
Fabrizio Coricelli
- Fonction : Auteur
- PersonId : 743092
- IdHAL : fabrizio-coricelli
- ORCID : 0000-0001-8508-3252
- IdRef : 032092946
Résumé
Small and medium‐sized enterprises (SMEs) suffered a sharp contraction in their borrowing from banks during the Great Recession. Analyzing a large firm‐level database for European countries, the paper shows that trade credit amplified the liquidity squeeze on SMEs, with adverse effects on their real activity. SMEs sharply increased their net trade credit and thus transferred financial resources to larger firms. Given the large weight of SMEs in the economy of European countries, the liquidity squeeze of SMEs likely contributed to the depth of the output fall and the slow recovery in Europe during the Great Recession.
Domaines
Economies et financesFormat du dépôt | Notice |
---|---|
Type de dépôt | Article dans une revue |
Titre |
en
Interenterprise Credit and Adjustment during Financial Crises: The Role of Firm Size
|
Résumé |
en
Small and medium‐sized enterprises (SMEs) suffered a sharp contraction in their borrowing from banks during the Great Recession. Analyzing a large firm‐level database for European countries, the paper shows that trade credit amplified the liquidity squeeze on SMEs, with adverse effects on their real activity. SMEs sharply increased their net trade credit and thus transferred financial resources to larger firms. Given the large weight of SMEs in the economy of European countries, the liquidity squeeze of SMEs likely contributed to the depth of the output fall and the slow recovery in Europe during the Great Recession.
|
Auteur(s) |
Fabrizio Coricelli
1, 2
, Marco Frigerio
3
1
PSE -
Paris School of Economics
( 301309 )
- 48 boulevard Jourdan 75014 Paris
- France
2
PJSE -
Paris Jourdan Sciences Economiques
( 1171428 )
- 48 boulevard Jourdan 75014 Paris
- France
3
UNIMI -
Università degli Studi di Milano = University of Milan
( 300694 )
- Via Festa del Perdono 7 - 20122 Milano
- Italie
|
Date de publication |
2019-09
|
Volume |
51
|
Numéro |
6
|
Page/Identifiant |
1547-1580
|
Langue du document |
Anglais
|
Nom de la revue |
|
Vulgarisation |
Non
|
Comité de lecture |
Oui
|
Audience |
Internationale
|
Domaine(s) |
|
DOI | 10.1111/jmcb.12557 |
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