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产能过剩与企业商业信用——基于供应链视角

Overcapacity and Trade Credit—From the Perspective of Supply Chain

金融分析与管理 / 2022,4(1)：1-17 / 2022-01-21 411 436

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• 作者： 尹长萍     
• 单位：

  重庆银行博士后科研工作站，重庆

• 关键词： 产能过剩；商业信用；供应链
• Overcapacity; Trade Credit; Supply Chain
• 摘要： 本文考察了行业产能过剩对企业商业信用决策的影响，发现总体上产能过剩加剧会导致商业信用资金更多流出企业。研究发现，随着行业产能过剩加剧，企业为满足自身竞争性需求会向下游客户提供更多商业信用，会将流动性与融资需求向上游传递，增加从供应商处获取的商业信用规模。研究结论为产能过剩经济后果提供了微观企业层面的证据，对产能过剩治理具有一定启示。
• This paper studies the impact of overcapacity on trade credit decisionmaking. The results show that with the increase of overcapacity in the industry, enterprises will provide more trade credit to downstream customers to meet their competitive needs, and will increase the scale of trade credit obtained from supplier to transfer liquidity and financing needs to upstream. On the whole, the increase of overcapacity will lead to more outflow of trade credit funds from enterprises. The conclusions provide evidence at the micro-enterprise level for the economic consequences of overcapacity, and have some implications for the governance of overcapacity.
• DOI： https://doi.org/10.35534/fam.0401001
• 引用： 尹长萍．产能过剩与企业商业信用——基于供应链视角［J］．金融分析与管理，2022，4（1）：1-17．