| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w24269 |
| 来源ID | Working Paper 24269 |
| Trade Creditors\u2019 Information Advantage | |
| Victoria Ivashina; Benjamin Iverson | |
| 发表日期 | 2018-01-29 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | Using information on the sales of debt claims for 132 U.S. Chapter 11 bankruptcy cases, we show that large trade creditors’ decisions to sell receivables of a distressed company in bankruptcy are predictive of lower recovery rates, and that in such cases these creditors sell ahead of less informed suppliers and other creditors. This result is especially pronounced for more opaque distressed firms, when trade creditors’ information advantage is likely largest. This evidence shows that suppliers that extend significant amounts of trade credit hold private information about their trade partners. Trade creditors who are geographically closer or in similar industries tend to lend the most, suggesting that these are two channels through which suppliers hold an information advantage. |
| 主题 | Microeconomics ; Households and Firms ; Financial Economics ; Corporate Finance |
| URL | https://www.nber.org/papers/w24269 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/581942 |
| 推荐引用方式 GB/T 7714 | Victoria Ivashina,Benjamin Iverson. Trade Creditors\u2019 Information Advantage. 2018. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w24269.pdf（410KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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