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Trade credit and bank finance: Financing small firms in russia

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  • Cook, Lisa D.
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    Article provided by Elsevier in its journal Journal of Business Venturing.

    Volume (Year): 14 (1999)
    Issue (Month): 5-6 ()
    Pages: 493-518

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    Handle: RePEc:eee:jbvent:v:14:y:1999:i:5-6:p:493-518

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    Web page: http://www.elsevier.com/locate/jbusvent

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    1. Taggart, Robert A, Jr, 1977. "A Model of Corporate Financing Decisions," Journal of Finance, American Finance Association, American Finance Association, vol. 32(5), pages 1467-84, December.
    2. Petersen, Mitchell A & Rajan, Raghuram G, 1995. "The Effect of Credit Market Competition on Lending Relationships," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 110(2), pages 407-43, May.
    3. Takeo Hoshi & Anil Kashyap & David Scharfstein, 1990. "The Role of Banks in Reducing the Costs of Financial Distress in Japan," NBER Working Papers 3435, National Bureau of Economic Research, Inc.
    4. Perotti, Enrico C., 1993. "Bank lending in transition economies," Journal of Banking & Finance, Elsevier, Elsevier, vol. 17(5), pages 1021-1032, September.
    5. Schwartz, Robert A., 1974. "An Economic Model of Trade Credit," Journal of Financial and Quantitative Analysis, Cambridge University Press, Cambridge University Press, vol. 9(04), pages 643-657, September.
    6. Emery, Gary W., 1984. "A Pure Financial Explanation for Trade Credit," Journal of Financial and Quantitative Analysis, Cambridge University Press, Cambridge University Press, vol. 19(03), pages 271-285, September.
    7. Gilchrist, S. & Himmelberg, C.P., 1995. "Evidence on the Role of Cash Flow for Investment," Papers, Columbia - Graduate School of Business 95-29, Columbia - Graduate School of Business.
    8. Charles W. Calomiris & Charles P. Himmelberg & Paul Wachtel, 1994. "Commercial Paper, Corporate Finance and the Business Cycle: A Microeconomic Perspective," Working Papers, New York University, Leonard N. Stern School of Business, Department of Economics 94-17, New York University, Leonard N. Stern School of Business, Department of Economics.
    9. Gertler, Mark & Gilchrist, Simon, 1994. "Monetary Policy, Business Cycles, and the Behavior of Small Manufacturing Firms," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 109(2), pages 309-40, May.
    10. Mitchell A. Petersen & Raghuram G. Rajan, 1996. "Trade Credit: Theories and Evidence," NBER Working Papers 5602, National Bureau of Economic Research, Inc.
    11. repec:fth:harver:1512 is not listed on IDEAS
    12. John H. Boyd & Edward C. Prescott, 1985. "Financial intermediary-coalitions," Staff Report, Federal Reserve Bank of Minneapolis 87, Federal Reserve Bank of Minneapolis.
    13. Steinherr, A., 1993. "An innovatory package for financial sector reforms in Eastern European countries," Journal of Banking & Finance, Elsevier, Elsevier, vol. 17(5), pages 1033-1057, September.
    14. Ramakrishnan, Ram T S & Thakor, Anjan V, 1984. "Information Reliability and a Theory of Financial Intermediation," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 51(3), pages 415-32, July.
    15. Nadiri, M Ishaq, 1969. "The Determinants of Trade Credit in the U.S. Total Manufacturing Sector," Econometrica, Econometric Society, Econometric Society, vol. 37(3), pages 408-23, July.
    16. Takeo Hoshi & Anil K. Kashyap & David Scharfstein, 1990. "The role of banks in reducing financial distress in Japan," Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) 134, Board of Governors of the Federal Reserve System (U.S.).
    17. James, Christopher, 1987. "Some evidence on the uniqueness of bank loans," Journal of Financial Economics, Elsevier, Elsevier, vol. 19(2), pages 217-235, December.
    18. Smith, Janet Kiholm, 1987. " Trade Credit and Informational Asymmetry," Journal of Finance, American Finance Association, American Finance Association, vol. 42(4), pages 863-72, September.
    19. Brennan, Michael J. & Copeland, Thomas E., 1988. "Stock splits, stock prices, and transaction costs," Journal of Financial Economics, Elsevier, Elsevier, vol. 22(1), pages 83-101, October.
    20. Shleifer, Andrei, 1997. "Government in transition," European Economic Review, Elsevier, Elsevier, vol. 41(3-5), pages 385-410, April.
    21. Diamond, Douglas W, 1984. "Financial Intermediation and Delegated Monitoring," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 51(3), pages 393-414, July.
    22. Lummer, Scott L. & McConnell, John J., 1989. "Further evidence on the bank lending process and the capital-market response to bank loan agreements," Journal of Financial Economics, Elsevier, Elsevier, vol. 25(1), pages 99-122, November.
    23. Berger, Allen N & Udell, Gregory F, 1995. "Relationship Lending and Lines of Credit in Small Firm Finance," The Journal of Business, University of Chicago Press, University of Chicago Press, vol. 68(3), pages 351-81, July.
    24. Stiglitz, Joseph E & Weiss, Andrew, 1981. "Credit Rationing in Markets with Imperfect Information," American Economic Review, American Economic Association, American Economic Association, vol. 71(3), pages 393-410, June.
    25. Steven Fazzari & R. Glenn Hubbard & Bruce C. Petersen, 1987. "Financing Constraints and Corporate Investment," NBER Working Papers 2387, National Bureau of Economic Research, Inc.
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    Cited by:
    1. Ichiro Iwasaki, 2007. "Enterprise Reform And Corporate Governance In Russia: A Quantitative Survey," Journal of Economic Surveys, Wiley Blackwell, Wiley Blackwell, vol. 21(5), pages 849-902, December.
    2. Kenshi Taketa & Gregory F. Udell, 2007. "Lending Channels and Financial Shocks: The Case of Small and Medium-Sized Enterprise Trade Credit and the Japanese Banking Crisis," Monetary and Economic Studies, Institute for Monetary and Economic Studies, Bank of Japan, Institute for Monetary and Economic Studies, Bank of Japan, vol. 25(2), pages 1-44, November.
    3. Mariarosaria Agostino & Francesco Trivieri, 2014. "Does trade credit play a signalling role? Some evidence from SMEs microdata," Small Business Economics, Springer, Springer, vol. 42(1), pages 131-151, January.
    4. Huang, Hui & Shi, Xiaojun & Zhang, Shunming, 2011. "Counter-cyclical substitution between trade credit and bank credit," Journal of Banking & Finance, Elsevier, Elsevier, vol. 35(8), pages 1859-1878, August.
    5. Berger, Allen N. & Udell, Gregory F., 2006. "A more complete conceptual framework for SME finance," Journal of Banking & Finance, Elsevier, Elsevier, vol. 30(11), pages 2945-2966, November.
    6. Csóka, Péter & Havran, Dániel & Szűcs, Nóra, 2010. "Információs paradoxon a vállalkozások hitelezésében nem fizető vevő esetén
      [An innovation paradox in enterprise financing where buyers fail to pay]
      ," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(4), pages 318-336.
    7. Jézabel Couppey-Soubeyran & Jérôme Héricourt, 2011. "The relationship between trade credit, bank credit and financial structure : from firm-level non-linearities to financial development heterogeneity. A study on MENA firm-level data," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers), HAL halshs-00609625, HAL.
    8. Curtiss, Jarmila, 2012. "Determinants of Financial Capital Use: Review of theories and implications for rural businesses," Working Papers, Factor Markets, Centre for European Policy Studies 122846, Factor Markets, Centre for European Policy Studies.
    9. repec:hal:journl:halshs-00609625 is not listed on IDEAS
    10. Ydriss Ziane, 2009. "Tests des motifs transactionnels et financiers du crédit commercial:le cas des firmes lorraines," Revue Finance Contrôle Stratégie, revues.org, revues.org, vol. 12(1), pages 67-92, March.
    11. Bosse, Douglas A., 2009. "Bundling governance mechanisms to efficiently organize small firm loans," Journal of Business Venturing, Elsevier, Elsevier, vol. 24(2), pages 183-195, March.
    12. Chenchuramaiah T. Bathala & Oswald D. Bowlin & William P. Dukes, 2004. "Sources of Capital and Debt Structure in Small Firms," Journal of Entrepreneurial Finance, Pepperdine University, Graziadio School of Business and Management, Pepperdine University, Graziadio School of Business and Management, vol. 9(1), pages 29-50, Spring.
    13. Bruton, Garry D. & Rubanik, Yuri, 2002. "Resources of the firm, Russian high-technology startups, and firm growth," Journal of Business Venturing, Elsevier, Elsevier, vol. 17(6), pages 553-576, October.
    14. Curtiss, Jarmila, 2012. "Determinants of Financial Capital Use: Review of theories and implications for rural businesses," Factor Markets Working Papers, Centre for European Policy Studies 123, Centre for European Policy Studies.
    15. Uchida, Hirofumi & Udell, Gregory F. & Watanabe, Wako, 2013. "Are trade creditors relationship lenders?," Japan and the World Economy, Elsevier, Elsevier, vol. 25, pages 24-38.

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