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Trade credit in SMEs: a quantile regression approach

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  • Francisco-Javier Canto-Cuevas
  • María-José Palacín-Sánchez
  • Filippo di Pietro

Abstract

This article analyses the determinants of the trade credit in Spanish manufacturing small and medium-sized enterprises (SMEs) from a new perspective. Specifically, we focus on the relationship between trade credit and other relevance financial resources: bank credit and self-financing. For the first time in the literature, a quantile regression approach is used, which takes into account the heterogeneity of firms in different quantiles of trade credit distribution. Our results show that the relationship between trade credit and other financial sources presents dissimilarities, including differences in sign, on SMEs with different degrees of trade credit. Our findings help to clarify the confusing results achieved in previous research on this topic.

Suggested Citation

  • Francisco-Javier Canto-Cuevas & María-José Palacín-Sánchez & Filippo di Pietro, 2016. "Trade credit in SMEs: a quantile regression approach," Applied Economics Letters, Taylor & Francis Journals, vol. 23(13), pages 945-948, September.
    • Handle: RePEc:taf:apeclt:v:23:y:2016:i:13:p:945-948
    DOI: 10.1080/13504851.2015.1122727
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    Cited by:

    1. Adilkhanova, Zarina & Nurlankul, Aruzhan & Token, Aizat & Yavuzoglu, Berk, 2022. "Trade credit and financial crises in Kazakhstan," Journal of Asian Economics, Elsevier, vol. 80(C).
    2. Maria Cristina Arcuri & Raoul Pisani, 2021. "Is Trade Credit a Sustainable Resource for Medium-Sized Italian Green Companies?," Sustainability, MDPI, vol. 13(5), pages 1-19, March.
    3. Maria Cristina Arcuri & Raoul Pisani, 2024. "Access to external credit during COVID-19: evidence from green SMEs in Italy," Review of Managerial Science, Springer, vol. 18(7), pages 1-30, July.
    4. Francisco-Javier Canto-Cuevas & María-José Palacín-Sánchez & Filippo Di Pietro, 2019. "Trade Credit as a Sustainable Resource during an SME’s Life Cycle," Sustainability, MDPI, vol. 11(3), pages 1-16, January.

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