Footnote:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments July 6, 2017 erstellt
Description:
This study shows that spin-offs acquire liquidity from their parent firms through the trade credit channel. We compare the trade credit of spin-offs with that of independent start-ups. Our findings reveal that spin-offs increase accounts payable when their parent firms are major suppliers. Moreover, spin-offs decrease accounts receivable when their parent firms are major customers. These results support the view that parent firms provide liquidity for their subsidiaries