应收账款
业务
透明度(行为)
利用
付款
议价能力
问责
会计
财务
计算机科学
经济
计算机安全
政治学
法学
微观经济学
作者
Jody Grewal,Aditya Mohan,Gerardo Pérez‐Cavazos
标识
DOI:10.1111/1475-679x.12521
摘要
ABSTRACT We exploit the introduction of the Payment Practices Disclosure Regulation in the United Kingdom (UK) to examine the effects of mandating disclosure of customer‐supplier payment practices. We find that nondisclosing small and medium‐sized enterprises (SMEs) experience a reduction in their accounts receivable by 8.3%, consistent with an acceleration of their trade credit collections. Further, SMEs exhibit fewer financial constraints after the regulation. We survey managers from large firms and SMEs to understand the underlying mechanisms. The required disclosures raise large firms’ reputational concerns and shift the bargaining power between large firms and SMEs. Additionally, the new disclosures compel executives at large firms to scrutinize their own firms’ payment practices, leading to increased accountability and a stronger focus on timely payment among senior managers.
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