首页|Sink or swim? Managerial ability and trade credit
Sink or swim? Managerial ability and trade credit
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NSTL
Wiley
In this article, we examine the relation between managerial ability and the use of supplier‐provided trade credit. The literature documents the positive effects of high‐ability managers, including more accurate earnings forecasts, improved earnings quality, and overall improvement in corporate disclosure policies. We argue that customers (those seeking trade credit) with high‐ability managers are better able to negotiate with suppliers, provide more transparent disclosure, and maintain strong relationships. Likewise, suppliers are willing to provide more trade credit to customers with high‐ability managers because of reduced information asymmetry, creating an environment of trust and transparency. Our empirical results show that suppliers extend more trade credit to customers with high‐ability managers and that this relation is more pro- nounced for financially constrained firms.
Mahmudul Hasan、Sayan Sarkar、Andrew C. Spieler
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Strome College of Business,Old Dominion University,Norfolk,Virginia,USA
College of Business,University of Mary Washington,Fredericksburg,Virginia,USA
Department of Finance,Frank G.Zarb School of Business,Hofstra University, Hempstead,New York,USA
NETL
NSTL
Wiley
