Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/261621 
Year of Publication: 
2021
Citation: 
[Journal:] Journal of Economic Structures [ISSN:] 2193-2409 [Volume:] 10 [Article No.:] 21 [Publisher:] Springer [Place:] Heidelberg [Year:] 2021 [Pages:] 1-16
Publisher: 
Springer, Heidelberg
Abstract: 
Considering the Italian manufacturing industry between 2014 and 2016 (more than 250,000 observations), this technical note analyzes the relation between the courts' ability to enforce credit rights and the opportunity to finance business activities with trade credits instead of financial debts, delaying payments and decreasing the financial costs. According to our results, and considering mortgage foreclosure, if the time necessary to settle an insolvency case increases by 1000 days, we can expect an increase in operating debt between 3 and 11%, and a decrease of financial expenses between 3000 and 7000 Euro.
Subjects: 
Corporate finance
Institutional inefficiency
Manufacturing industry
JEL: 
G32
G33
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.