| Summary: | 碩士 === 東吳大學 === 會計學系 === 91 === Credit risk has become one of the key risk management challenges since the late 1990s. Institutions, banks, companies, and multinational corporations are all taking more and more emphasis on credit risk. As competition increasing, the needs of more complicated risk management techniques for credit risk are also heightening. There are many researches and studies focus on investment credit, mercantile loan of com mercial bank, open market credit, consumer credit and refinancing credit, while trade credit, also one of credit-related academic domain, is rare. This paper extends the field of credit research, and tests hypotheses that can influent the choice of trade credit management policies. Our tests focus on industry explanations of policy-choice determinants from the views of wholesaler and retailer, respectively.
We found a company’s credit rating, size and profitability are important in explaining the factors of trade credit for wholesalers, and banking relation, credit and profitability are the main three factors for retailers. We also conducted that credit rating explicit shows more information contents on credit policy-making both for wholesaler and retailer. However, we found that accounts receivable is negatively related to Taiwan GDP growth rate, so is accounts payable.
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