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Interfirm Relationships and Trade Credit in Japan - Evidence from Micro-Data (Paperback, 2015 ed.)
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Interfirm Relationships and Trade Credit in Japan - Evidence from Micro-Data (Paperback, 2015 ed.)
Series: SpringerBriefs in Economics
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This is the first book to report the details of the current status
of interfirm relationships in Japan. Based on a unique data set of
firms, the authors describe the characteristics of interfirm
transactions in a manner unprecedented in the literature. Special
emphasis is placed on the nature of payment/collection between
firms. Payment for interfirm transactions is usually made on
account, or by payment after delivery, rather than by immediate
payment. Thus, most interfirm transactions are accompanied by a
provision of credit (i.e., lending/borrowing) from a seller to a
buyer, referred to as trade credit. Although trade credit is used
all around the world and accounts for a large portion of firms'
balance sheets, researchers, lacking detailed data, have long
encountered serious difficulty in clarifying how and why firms use
trade credit. In this work the authors use a huge, unique data set
of about 380,000 firms in Japan during the 2007-2010 period. To
grasp the entirety of this enormous data set, which is tantamount
to a picture of all firms currently operating in Japan, this brief
summarizes descriptive statistics and conducts univariate analyses
of the data. Also provided is the legal background of trade credit
practice in Japan from the "law and economics" perspective. In this
manner, the book furnishes vital information that can be used as a
reference for future theoretical and empirical analyses of trade
credit and interfirm relationships.
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