科研之友
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摘要
With the development of the socialist market economy in China, as one of the main channels for financing, trade credit has becoming more and more important. However, whether trade credit played the same role in different sectors is still in the air. The aim of this paper is to study differences of the level of using trade credit in industries. By applying panel data model, this paper uses samples of China's listed firms of Shanghai and Shenzhen about metallurgy industry and communications equipment, computers and other electronic equipment manufacturing industries from 2002 to 2009 to do a comparative analysis. This paper pays attention to the demand for trade credit and studies its influencing factors. It is found that the demand for trade credit is strongly positively correlated with the level of the supply of trade credit. The level of trade demand of communications equipment, computers and other electronic equipment manufacturing industries is higher than the other one. Besides, the level of offering trade credit, the size of enterprise, profitability and the ability to finance from financial institutions and debt paying ability all have significant effect on different industries. It is also suggested that those four aspects are important factors affecting the level of credits and every part affects different industries differently. In addition , the prosperity index, operation conditions and growth also does differential effects.Based on the conclusions, future researches could focus on characters of different industries.
- 出版日期2015
- 单位北京科技大学
