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A study on the status of Supply Chain Finance in Korea

진형인|정국뢰
한국로지스틱스학회 (Korea Logistics Society)|2013.06|로지스틱스연구 (Korean Journal of Logistics)|제21권 제2호|pp. 31-46|DOI 10.15735/kls.2013.21.2.003

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참고문헌

키워드

한국KoreaSCFWorking capital improvementFirm fixed effect model공급사슬 재무운전 자본 개선기업 고정 효과 모형
주제분류경영학

초록

In this paper, we examine whether a special form of SCF mechanism, the one promoted by Korean government through its large firms/SMEs cooperation promotion strategy, has real effects in terms of working capital improvement (especially for SMEs) using a hand collected sample of suppliers for large companies. After controling for potential endogeniety problems by utilizing firm fixed effect model, our empirical results show that compared to standalone firms, being supplier for large companies will improve firm's working capital condition, either for working capital ratio or for Cash-to-Cash Cycle. And the improvement degree is both statistically and economically significant.

Abstract

In this paper, we examine whether a special form of SCF mechanism, the one promoted by Korean government through its large firms/SMEs cooperation promotion strategy, has real effects in terms of working capital improvement (especially for SMEs) using a hand collected sample of suppliers for large companies. After controling for potential endogeniety problems by utilizing firm fixed effect model, our empirical results show that compared to standalone firms, being supplier for large companies will improve firm's working capital condition, either for working capital ratio or for Cash-to-Cash Cycle. And the improvement degree is both statistically and economically significant.

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