This paper will document financial aspects of transactions, and trade credit supply behavior with FDI among small and medium-sized enterprises(SMEs) based on two original surveys, conducted in four cities in China in 2003. The survey was designed to capture the nature of inter-firm transactions,...

During the transition period from a planned economy to a market economy in 1990s of China, there was a considerable accrual of deferred payment, and default due to inferior enforcement institutions. This is a very common phenomenon in the transition economies at that time. Interviews with home...

Literature on agency problems arising between controlling and minority owners claim that separation of cash flow and control rights allows controllers to expropriate listed firms, and further that separation emerges when dual class shares or pyramiding corporate structures exist. Dual class...

Using a unique dataset obtained from rural Andhra Pradesh, India that contains direct observations of household access to credit and detailed time use, results of this study indicate that credit market failures lead to a substantial reallocation of time used by children for activities such as...

We propose the bounds on ATE using intention-to-treat (ITT) estimator when there are compliers/noncompliers in randomized trials. The bounds are given as ITT<ATE<CACE, where compliers’ average treatment effect (CACE) can be computed from ITT and complier ratio. We show that these bounds can be derived from two assumptions: (1) average treatment effect is greater with compliers than noncompliers or CACE>NACE, (2) noncompliers' average treatment effect (NACE) is nonnegative. We give an example of poverty impacts of health insurance, and...</ate<cace,>

This paper studied the governance mechanism of the economic transaction with trade credit: First, we build a theoretical model that bargaining power reduces trade credit ex ante, and expand ex post enforcement power. The ex post enforcement power and cash in the buyer's hand expand the trade...