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Exploratory Study Regarding the Commercial Credit Policy of Romanian Companies


  • Cristina-Ionela FĂDUR

    (“Alexandru Ioan Cuza” University, Iaşi)

  • Daniela CIOTINĂ

    (“Alexandru Ioan Cuza” University, Iaşi)

  • Marilena MIRONIUC

    (“Alexandru Ioan Cuza” University, Iaşi)


The purpose of this paper is to reveal the commercial credit policy adopted by Romanian companies and its influence on the level of liquidity, analyzed using absolute measure indicators – net cash – and relative measure indicators – the immediate liquidity ratio. 50 companies quoted in the Bucharest Stock Exchange have been selected, based on the annual financial statements for the period 2006-2008. It is one of the few studies that aim at analyzing longitudinally the commercial credit policy adopted by Romanian companies. The study reveals that average payment delays of the debts to the providers is higher than the average customer debt collection, but the commercial credit policy does not exert any significant influence over the liquidity of the analyzed companies.

Suggested Citation

  • Cristina-Ionela FĂDUR & Daniela CIOTINĂ & Marilena MIRONIUC, 2011. "Exploratory Study Regarding the Commercial Credit Policy of Romanian Companies," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(4(557)), pages 17-36, April.
  • Handle: RePEc:agr:journl:v:4(557):y:2011:i:4(557):p:17-36

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    Cited by:

    1. Julius Aidoo-Buameh, 2014. "The Effect of NHIA Debt on Accounts Payables Management in Public Hospitals," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 4(8), pages 1001-1015, August.


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