Trade credit behavior of Korean small and medium sized enterprises during the 1997 financial crisis

Hyun, Junghwan

doi:10.1016/j.asieco.2017.02.005

Cited by 11 publications

(9 citation statements)

References 30 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…Usaha besar hanya mengambil porsi yang sangat kecil yaitu 0,01 persen. UMKM juga dipandang sebagai penggerak utama perekonomian Indonesia dan terbukti bertahan dari kondisi sulit seperti krisis ekonomi Indonesia pada 1998, krisis keuangan global 2008 sampai pada pandemi Covid-19 yang sedang melanda seluruh dunia (Bourletidis & Triantafyllopoulos, 2014;Trinh et al, 2017;Hyun, 2017;Bremus & Neugebauer, 2018;Djalante et al, 2020;(Brown & Rocha, 2020). UMKM di kondisi saat ini juga harus mampu beradaptasi dengan dengan penggunaan teknologi dan sistem informasi yang semakin cepat berkembang (Nugroho, 2015;Nugroho et al, 2017;Yasiukovich & Haddara, 2021).…”

Section: Pendahuluanunclassified

Profil Keputusan Struktur Modal Pelaku Usaha Mikro, Kecil Dan Menengah

Kelen¹,

Hutar²,

Adindarena³

et al. 2022

View full text Add to dashboard Cite

Research on capital structure so far has often been studied in the context of large companies and there are still few studies that explain it in the context of Micro, Small and Medium Enterprises (MSMEs). Not only that, research on capital structure has so far been dominated by research with a regression-based model and focuses on business characteristics, not individuals. In addition, the development of capital structure in Indonesia is also dominated by research from Java. This has become the author's interest in researching the capital structure of MSMEs in areas outside Java, more precisely in East Sumba Regency, East Nusa Tenggara Province (NTT). By using quantitative descriptive data analysis techniques on 208 samples of actors as long as MSME owners in East Sumba Regency, the results show that the capital structure decision profile of MSME actors in East Sumba follows the pecking order theory pattern, where MSMEs prioritize internal funding over external funding. However, this theory is not the only one in explaining the profile of capital structure decisions, because the trade-off theory is also illustrated even though the percentage is small.

show abstract

Section: Pendahuluanunclassified

Profil Keputusan Struktur Modal Pelaku Usaha Mikro, Kecil Dan Menengah

Kelen¹,

Hutar²,

Adindarena³

et al. 2022

View full text Add to dashboard Cite

show abstract

“…Agrawal et al (2018) found a significant interaction exists between the recruiter gender and profit margin variables in effect on days that it takes to fill an open position, and at lower job position profit margins, female recruiters were found to outperform their male counterparts, conversely, at higher job position profit margins, male recruiters appear to outperform female recruiters. Hyun (2017) investigates the effect of the 1997 Korean financial crisis on the trade credit behavior of Korean small and medium sized enterprises (SMEs) using a unique panel data set for the period 1994 to 1999 and uncover new evidence supporting the substitution and redistribution hypotheses, which contradicts earlier studies, specifically, the results show that liquid SMEs provided more trade credit to their client firms during the credit contraction, while financially constrained SMEs received more trade credit from their suppliers, further, evidence found that SMEs in financially distressed regions relied more on trade credit than their counterparts in financially healthier regions. Chung et al (2017) present that as China increases its size of economy, stateowned financial institutions, resource-focus firms (e.g.…”

Section: Literature Reviewmentioning

confidence: 99%

A Literature Review of Net Profit Margin

Budiyanta

2021

SSS

View full text Add to dashboard Cite

Net profit margin is one indicator of the company's financial performance. Net profit margin on cruise industries, for example, exhibit consistently robust growth trends for the leading cruise players, over 2016–2019, contrary to most commercial shipping market segments that experienced abrupt and persistent revenue declines since the outbreak of 2008 global financial crisis, cruise shipping has seen a robust resistance and relatively rapid recovery. Spurred by the growing importance of institutional investors, capital markets in emerging economies experience rapid growth. Specifically, equities ownership in emerging capital markets have tripled since the early 1990s. Another factor attracting equities investment involves institutional investors who offer potential for increased monitoring in the invested firms. The objective of this research is to determine the factors associated with net profit margin. I presented a literature study using systematic literature review of relevant publications and as a result of this process, 18 articles are included and then examined the bibliographical references to check the validity of the inquiry and to avoid any potential omissions. I identify several variables that affect and affected by net profit margin.

show abstract

“…The evidence regarding the relationship between trade credit and external financing during crisis is mixed in the literature. Hyun (2017a) finds that financially constrained Korean SMEs secured more trade credit during the 1997-8 Asian financial crisis. The findings of Carbó-Valverde et al (2016) for Spanish SMEs, Lawrenz and Oberndorfer (2018) for unlisted German SMEs, and Yang (2011) for the U.S. manufacturing firms regardless of their size during the Great Recession are also in favor of the substitution hypothesis.…”

Section: Introductionmentioning

confidence: 98%