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首页> 外文期刊>International journal of logistics economics and globalisation >Impact of trade credit on supply chains with downgraded customers
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Impact of trade credit on supply chains with downgraded customers

机译：贸易信用对低级客户供应链的影响

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摘要

Trade credit is the liquidity provision from suppliers to customers. In this paper, we examine the use of trade credit in the supply chain after customer firm's credit rating being downgraded. We find that trade credit is likely to decrease after customers getting downgraded credit ratings. We further show that suppliers and customers will be both better off in profitability if trade credit increases following customers' credit rating downgrades. Given that the use of trade credit generally has a significant positive effect on suppliers' and customers' profitability, we show that this effect is stronger when customers receive credit rating downgrades. The empirical evidence in our paper suggests that strengthening the financial collaborations in the supply chain is a superior strategy relative to shrinking the financial collaborations under the circumstance that customer firms suffer from a growing financial constraint and financial distress.
机译：贸易信贷是供应商给客户的流动性。 在本文中，我们在客户公司的信用评级降级后，我们研究了在供应链中的贸易信用的使用。 我们发现贸易信贷可能会在获得降级的信用评级后减少。 我们进一步表明，如果贸易信贷在客户的信用评级降级下降，供应商和客户均为盈利能力更好。 鉴于贸易信贷的使用一般对供应商的盈利有重大积极影响，我们表明，当客户获得信用评级降级时，这种效果更强大。 本文的经验证据表明，加强供应链中的金融合作是一个卓越的战略，相对于缩减客户公司遭受不断增长的财政限制和财务困境的情况下的金融合作。

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