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Trade credit behavior of Korean small and medium sized enterprises during the 1997 financial crisis

机译:1997年金融危机期间韩国中小企业贸易信贷行为

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This paper investigates the effect of the 1997 Korean financial crisis on the trade credit behavior of Korean small and medium sized enterprises (SMEs) using a unique panel dataset for the period 1994 to 1999.1 uncover new evidence supporting the substitution and redistribution hypotheses, which contradicts earlier studies. Specifically, the results show that liquid SMEs provided more trade credit to their client firms during the credit contraction, while financially constrained SMEs received more trade credit from their suppliers. Further, I find evidence that SMEs in financially distressed regions relied more on trade credit than their counterparts in financially healthier regions.
机译:本文调查了1997年韩国金融危机对韩国中小企业(中小企业)贸易信贷行为的影响,使用1994年至1999年的唯一面板数据集.1揭示了支持替代和再分配假设的新证据 学习。 具体而言,结果表明,液体中小企业在信用萎缩期间向其客户公司提供了更多的贸易信贷,而经济限制的中小企业从供应商那里获得了更多的贸易信贷。 此外,我发现有证据表明,在经济上遇险地区中小企业依赖于贸易信贷,而不是经济更健康地区的同行。

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