Miwa, Yoshiro; Ramseyer, J. Mark - Center for Advanced Research in Finance, Faculty of … - 2005
face short-term exigencies they did not expect. This contrast in the term structures of bank loans and trade credit follows … banks would charge them. Nonetheless, they do not treat bank loans and trade credit interchangeably. Disproportionately … heavily front-loaded, bankers focus on long-term debt. Because the costs of monitoring debtors are on-going, trade creditors …