Persistent Link:
http://hdl.handle.net/10150/228116
Title:
Credit Risk and Inter-Firm Dependence
Author:
Cardella, Laura D.
Issue Date:
2012
Publisher:
The University of Arizona.
Rights:
Copyright © is held by the author. Digital access to this material is made possible by the University Libraries, University of Arizona. Further transmission, reproduction or presentation (such as public display or performance) of protected items is prohibited except with permission of the author.
Abstract:
I explore whether inter-firm linkages affect firms' credit risk. After controlling for the endogeneity between a firm's credit risk and its dependence on customers and suppliers, I find that supply-chain relationships affect firms' credit risk. My results indicate firms with exposure to major customers have lower ratings, and the level of firm dependence on major customers is negatively associated with firms' credit ratings. Further, I show when a firm's customers also depend on it, this mitigates the negative effect of dependence on credit risk. Finally, I document a negative association between a customer's reliance on its dependent suppliers and the customer's credit rating. Overall, my results provide insights regarding how inter-firm relationships between corporate customers and suppliers affect credit risk.
Type:
text; Electronic Dissertation
Keywords:
Management; Risk; Supply-chain
Degree Name:
Ph.D.
Degree Level:
doctoral
Degree Program:
Graduate College; Management
Degree Grantor:
University of Arizona
Advisor:
Klasa, Sandy

Full metadata record

DC FieldValue Language
dc.language.isoenen_US
dc.titleCredit Risk and Inter-Firm Dependenceen_US
dc.creatorCardella, Laura D.en_US
dc.contributor.authorCardella, Laura D.en_US
dc.date.issued2012-
dc.publisherThe University of Arizona.en_US
dc.rightsCopyright © is held by the author. Digital access to this material is made possible by the University Libraries, University of Arizona. Further transmission, reproduction or presentation (such as public display or performance) of protected items is prohibited except with permission of the author.en_US
dc.description.abstractI explore whether inter-firm linkages affect firms' credit risk. After controlling for the endogeneity between a firm's credit risk and its dependence on customers and suppliers, I find that supply-chain relationships affect firms' credit risk. My results indicate firms with exposure to major customers have lower ratings, and the level of firm dependence on major customers is negatively associated with firms' credit ratings. Further, I show when a firm's customers also depend on it, this mitigates the negative effect of dependence on credit risk. Finally, I document a negative association between a customer's reliance on its dependent suppliers and the customer's credit rating. Overall, my results provide insights regarding how inter-firm relationships between corporate customers and suppliers affect credit risk.en_US
dc.typetexten_US
dc.typeElectronic Dissertationen_US
dc.subjectManagementen_US
dc.subjectRisken_US
dc.subjectSupply-chainen_US
thesis.degree.namePh.D.en_US
thesis.degree.leveldoctoralen_US
thesis.degree.disciplineGraduate Collegeen_US
thesis.degree.disciplineManagementen_US
thesis.degree.grantorUniversity of Arizonaen_US
dc.contributor.advisorKlasa, Sandyen_US
dc.contributor.committeememberLitov, Lubomiren_US
dc.contributor.committeememberKahle, Kathleenen_US
dc.contributor.committeememberOaxaca, Ronalden_US
dc.contributor.committeememberKlasa, Sandyen_US
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