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处于财务困境中的企业,其金融信贷受到一定的限制,在融资渠道有限的情况下将更加依赖于商业信用融资,但处于不同行业的企业在商业信用的获取上将存在一定的差异性。本文研究发现,与其他产业相比,零售业企业在面临财务困境时将减少对供应商应收账款的占用,这并不符合替代性融资理论。由此可以看出,在零售业是供给因素促成了商业信用的大量存在,当零售商处于财务困境时,供应商对资金的收回存在较大的顾虑,因此将限制商业信用的提供。
Enterprises in financial distress have some limitations on their financial credit, and will rely more on commercial credit financing when the financing channels are limited. However, enterprises in different industries will have some differences in obtaining commercial credit. This study finds that, compared with other industries, retail enterprises will reduce the occupation of suppliers receivables in the face of financial difficulties, which is not in line with the alternative financing theory. It can be seen that the retail supply is a contributing factor to the existence of a large number of commercial credit, when retailers are in financial difficulties, suppliers have greater concerns about the recovery of funds, it will limit the provision of commercial credit.