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Cited by 303

The DOI matches its Crossref record; 54 of the 54 references it cites were found in a registry or an index.

Trade Credit, Relationship-specific Investment, and Product Market Power

Dass, Nishant, Kale, Jayant R., Nanda, Vikram·2015·Review of Finance
DOI 10.1093/rof/rfu038
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Abstract

We rely on a model with incomplete contracts and bargaining power to argue that trade credit (TC) can serve as a commitment device for making relationship-specific investments (RSIs). Unlike existing theories, we explain within a single theoretical framework why TC is affected by firms’ bargaining power and by the specialized nature of transacted goods. Using a large panel of publicly listed firms and innovation-based proxies for RSI, we find strong support for the model’s predictions: TC increases in upstream firm’s RSI and downstream firm’s market power. Endogeneity concerns are addressed by using the passage of innovation-increasing state laws to instrument for RSI and import penetration to instrument for bargaining power.

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Metadata

Authors
Dass, N., Kale, J. R., & Nanda, V.
Venue
Review of Finance
Publisher
Oxford University Press (OUP)
Published
2014-09-13
Volume
19
Issue
5
Pages
1867-1923
ISSN
  • 1382-6662 (ISSN-L)
  • 1573-692X
  • 1572-3097
DOI
10.1093/rof/rfu038
OpenAlex
W3126062824
Cited by
303
References
54
FWCI
27.05
Type
journal article
Language
en
Open access
closed

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CoChat. (2026). Citation check: Trade Credit, Relationship-specific Investment, and Product Market Power. https://app.cochat.ai/papers/10.1093/rof/rfu038
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Dass, N., Kale, J. R., & Nanda, V. (2015). Trade Credit, Relationship-specific Investment, and Product Market Power. Review of Finance. https://doi.org/10.1093/rof/rfu038

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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.