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  • Trade Credit Terms: Asymmetric information and price discrimination evidence from three continents

    Author(s)
    Pike, Richard
    Cheng, Nam Sang
    Cravens, Karen
    Lamminmaki, Dawne
    Griffith University Author(s)
    Lamminmaki, Dawne M.
    Year published
    2005
    Metadata
    Show full item record
    Abstract
    Trade credit terms offer firms contractual solutions to informational asymmetries between buyers and sellers. The credit period permits buyers to reduce uncertainty concerning product quality prior to payment, while the seller can reduce uncertainty concerning buyer payment intentions by prescribing payment before/on delivery or through twopart payment terms and other mechanisms. Variation in trade credit terms also offers firms price discriminating opportunities. This study, drawing on the responses of 700 large firms in the US, UK and Australia, explores trade credit terms through the twin objectives of reducing information ...
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    Trade credit terms offer firms contractual solutions to informational asymmetries between buyers and sellers. The credit period permits buyers to reduce uncertainty concerning product quality prior to payment, while the seller can reduce uncertainty concerning buyer payment intentions by prescribing payment before/on delivery or through twopart payment terms and other mechanisms. Variation in trade credit terms also offers firms price discriminating opportunities. This study, drawing on the responses of 700 large firms in the US, UK and Australia, explores trade credit terms through the twin objectives of reducing information asymmetries and discriminatory pricing. Support is found for both theories.
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    Journal Title
    Journal of Business Finance & Accounting
    Volume
    32
    Issue
    5-6
    Publisher URI
    http://www.blackwell-synergy.com/doi/full/10.1111/j.0306-686X.2005.00627.x
    DOI
    https://doi.org/10.1111/j.0306-686X.2005.00627.x
    Copyright Statement
    © 2005 Blackwell Publishing. The definitive version is available at [www.blackwell-synergy.com.]
    Subject
    Accounting, Auditing and Accountability
    Banking, Finance and Investment
    Publication URI
    http://hdl.handle.net/10072/4544
    Collection
    • Journal articles

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