This paper provides a detailed empirical study on the use of advance payments by firms. It establishes that some trade credit theories can also be applied to prepayment. The results, obtained from a large panel dataset, suggest that a series of factors affect prepayments. First, financially...

type="main" xml:id="sjpe12051-abs-0001" <title type="main">Abstract</title> <p>This paper examines the main determinants of individual attitudes towards immigration in Europe. Our results suggest that both economic and non-economic variables shape attitudes towards immigration, but the relative importance of these factors...</p>

We use a panel of 9381 UK firms to study the links between firms' global engagement status and their financial health. We estimate inventory investment equations augmented with a financial composition variable, and interpret the sensitivity of inventory investment to the latter as a measure of...

Trade credit is an important source of finance for firms and has been well researched, but the focus has been on financial trade-offs. In this paper, we consider the trade-offs with inventories and develop a simple model that recognizes the incentives a firm faces to offer and receive trade...

We investigate the empirical linkages between sales uncertainty and firms’ inventory investment behavior while controlling for firms’ financial strength. Using large panels of manufacturing firms from several European countries we find that higher sales uncertainty leads to larger stocks of...

We investigate the interaction between supplier credit sales and customer advance payment. We find evidence that advance payments and credit sales are used as complementary terms of payment in international trade and in transactions of differentiated goods.