Efectos del ciclo económico en el crédito comercialel caso de la pyme española

  1. Francisco-Javier Canto-Cuevas 1
  2. María-José Palacín-Sánchez 1
  3. Filippo di Pietro 1
  1. 1 Universidad de Sevilla, Departamento de Economía Financiera y Dirección de Operaciones
Revista:
European Research on Management and Business Economics

ISSN: 2444-8834

Año de publicación: 2016

Volumen: 22

Número: 2

Páginas: 55-62

Tipo: Artículo

DOI: 10.1016/J.IEDEE.2015.11.001 DIALNET GOOGLE SCHOLAR lock_openAcceso abierto editor

Otras publicaciones en: European Research on Management and Business Economics

Resumen

Este trabajo estudia los efectos de la situación económica sobre el crédito comercial en las pequeñas y medianas empresas. Para lograr este objetivo, se analiza una muestra de pymes españolas durante los años 2004 a 2011, periodo que incluye una etapa de expansión y otra de recesión, utilizando la metodología de datos de panel. Los resultados muestran que el ciclo económico afecta de manera significativa al crédito comercial recibido y concedido, produciéndose un aumento en la etapa de bonanza económica y una contracción durante la crisis. Además, son las empresas más vulnerables inancieramente las que durante la crisis, por un lado, tienen más dificultades para conseguir financiación vía crédito comercial, pero al mismo tiempo más incrementan su crédito a clientes. Por último, aquellas firmas con mayor capacidad de generar recursos conceden más crédito a sus clientes.

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