The Study of Trade Credit Supply:the Evidence from SMEs in Shanghai
基于2007年上海中小企业调查数据，检验了中小企业提供贸易信贷的四种动机，发现中小企业提供过多贸易信贷，且规模越小提供越多，反映了市场竞争关系。
Based on the SMEs Survey conducted in Shanghai in 2007,the authors create variables to test the four motives to which SMEs supply trade credit,namely,lowering transaction cost,financing,promoting sales and guarantying product quality.The empirical results provide only limited evidence for the above motives.It is found that SMEs provide too much trade credit.Moreover,the smaller the business,the more credit it tends to provide.So the authors conclude that trade credit reflects the competitive relationships between firms.Because SMEs are in the unprivileged position in the market,they have to provide trade credit to big firms.Taking these into account,it is believed that since supply chain financing can help ease SMEs financing constraints,it will prosper in the future.