Complex Interplay of Eastern Bloc SMEs Trade Credit Determinants: Changes due to the Global Financial Crisis
We investigate whether the determinants of small and medium enterprises’ (SMEs) trade credits taken for purchasing fixed assets suffered substantial changes due to the global financial crisis (GFC). The geographical focus of this paper covers 18 former Eastern bloc countries. The data sample compris...
Saved in:
| Main Authors: | , , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Wiley
2022-01-01
|
| Series: | Complexity |
| Online Access: | http://dx.doi.org/10.1155/2022/9608649 |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| _version_ | 1832564880813588480 |
|---|---|
| author | Tamara Teplova Tatiana Sokolova Kristina Galenskaya Mariya Gubareva |
| author_facet | Tamara Teplova Tatiana Sokolova Kristina Galenskaya Mariya Gubareva |
| author_sort | Tamara Teplova |
| collection | DOAJ |
| description | We investigate whether the determinants of small and medium enterprises’ (SMEs) trade credits taken for purchasing fixed assets suffered substantial changes due to the global financial crisis (GFC). The geographical focus of this paper covers 18 former Eastern bloc countries. The data sample comprises opinions of the SMEs top managers relative to the trade credit financing. The two-step Heckman procedure is applied to study complexity of the trade credit determinants. We find that before the GFC the equity concentration and inflation have negatively impacted the trade credit while foreign ownership and company’s longevity have had a positive effect. The GFC has changed this complex relationship. We evidence that, after the GFC, equity concentration and state subsidies have a positive effect. |
| format | Article |
| id | doaj-art-4407631dafcf43b2948425990723f097 |
| institution | Kabale University |
| issn | 1099-0526 |
| language | English |
| publishDate | 2022-01-01 |
| publisher | Wiley |
| record_format | Article |
| series | Complexity |
| spelling | doaj-art-4407631dafcf43b2948425990723f0972025-02-03T01:09:59ZengWileyComplexity1099-05262022-01-01202210.1155/2022/9608649Complex Interplay of Eastern Bloc SMEs Trade Credit Determinants: Changes due to the Global Financial CrisisTamara Teplova0Tatiana Sokolova1Kristina Galenskaya2Mariya Gubareva3National Research University Higher School of EconomicsNational Research University Higher School of EconomicsNational Research University Higher School of EconomicsISEG—Lisbon School of Economics & ManagementWe investigate whether the determinants of small and medium enterprises’ (SMEs) trade credits taken for purchasing fixed assets suffered substantial changes due to the global financial crisis (GFC). The geographical focus of this paper covers 18 former Eastern bloc countries. The data sample comprises opinions of the SMEs top managers relative to the trade credit financing. The two-step Heckman procedure is applied to study complexity of the trade credit determinants. We find that before the GFC the equity concentration and inflation have negatively impacted the trade credit while foreign ownership and company’s longevity have had a positive effect. The GFC has changed this complex relationship. We evidence that, after the GFC, equity concentration and state subsidies have a positive effect.http://dx.doi.org/10.1155/2022/9608649 |
| spellingShingle | Tamara Teplova Tatiana Sokolova Kristina Galenskaya Mariya Gubareva Complex Interplay of Eastern Bloc SMEs Trade Credit Determinants: Changes due to the Global Financial Crisis Complexity |
| title | Complex Interplay of Eastern Bloc SMEs Trade Credit Determinants: Changes due to the Global Financial Crisis |
| title_full | Complex Interplay of Eastern Bloc SMEs Trade Credit Determinants: Changes due to the Global Financial Crisis |
| title_fullStr | Complex Interplay of Eastern Bloc SMEs Trade Credit Determinants: Changes due to the Global Financial Crisis |
| title_full_unstemmed | Complex Interplay of Eastern Bloc SMEs Trade Credit Determinants: Changes due to the Global Financial Crisis |
| title_short | Complex Interplay of Eastern Bloc SMEs Trade Credit Determinants: Changes due to the Global Financial Crisis |
| title_sort | complex interplay of eastern bloc smes trade credit determinants changes due to the global financial crisis |
| url | http://dx.doi.org/10.1155/2022/9608649 |
| work_keys_str_mv | AT tamarateplova complexinterplayofeasternblocsmestradecreditdeterminantschangesduetotheglobalfinancialcrisis AT tatianasokolova complexinterplayofeasternblocsmestradecreditdeterminantschangesduetotheglobalfinancialcrisis AT kristinagalenskaya complexinterplayofeasternblocsmestradecreditdeterminantschangesduetotheglobalfinancialcrisis AT mariyagubareva complexinterplayofeasternblocsmestradecreditdeterminantschangesduetotheglobalfinancialcrisis |