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Crédits interentreprises et délais de paiement : une théorie financière

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  • Frédéric Boissay

Abstract

Trade credits are the main source of firm's external finance, despite they are observationally more expensive than bank loans. The aim of this paper is to study this type of credit. We describe the optimal debt structure for firms, when the latter can get funds from their banks and from their suppliers, and when they can choose the maturity of trade credits. We make two main contributions. First, we propose an explanation of the use of trade credits. Second, we propose an explanation for the observed variability of the delays of payments across firms and time.

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  • Frédéric Boissay, 2004. "Crédits interentreprises et délais de paiement : une théorie financière," Annals of Economics and Statistics, GENES, issue 73, pages 101-118.
    • Handle: RePEc:adr:anecst:y:2004:i:73:p:101-118
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    File URL: http://www.jstor.org/stable/20079070
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    Cited by:

    1. Remeikiene Rita & Gaspareniene Ligita & Grigaliune Gintare, 2016. "The Issues of the Management of Receivables: Lithuanian Case," Economics and Culture, Sciendo, vol. 13(1), pages 88-96, June.
    2. Inès Chaari & Jézabel Couppey-Soubeyran, 2008. "La place des banques dans le financement de l’économie tunisienne," Revue d'Économie Financière, Programme National Persée, vol. 93(3), pages 297-317.
    3. Ydriss Ziane, 2009. "Tests des motifs transactionnels et financiers du crédit commercial:le cas des firmes lorraines," Revue Finance Contrôle Stratégie, revues.org, vol. 12(1), pages 67-92, March.

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