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Does earnings management, even though legal, hinder investor trust in reported earnings? Or do investors regard …, this effect occurs in industries where investor trust has recently been violated, and where managers would in the past have …
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transaction costs, because they allow adjustment of the flows of needs, but high confidence is required. The current ease of …
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We study the relationship between net trade credit and firms' investment levels, focusing on financially distressed firms. First, we introduce a theoretical model to predict the role played by net trade credit as a coordination device differentiating firms by their degree of financial distress....
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