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- Title
ПОЛИТИКА НА БЪЛГАРСКИТЕ ПУБЛИЧНО ТЪРГУВАНИ ПРЕДПРИЯТИЯ ПО ТЪРГОВСКО КРЕДИТИРАНЕ НА КЛИЕНТИТЕ ПРЕЗ ПАНДЕМИЯТА ОТ COVID-19.
- Authors
Тасева, Галя
- Abstract
In the first year of the Covid-19 pandemic, the policy of trade credit of Bulgarian publicly traded companies became more conservative. Both net creditor and net debtor companies on trade credit saw a decrease in the value of receivables, the share of receivables in relation to sales and the period of collection of receivables. Moreover, the shift in trade credit policy during the pandemic is much stronger for net trade credit debtor firms. A non-parametric analysis of variance with the Kruskal Wallis test shows the existence of a statistically significant difference between the amount of net sales, the amount of account receivables, the share of credit sales and the period of collection of account receivables for companies net debtors and net creditors during the pandemic. In the second year of the pandemic, however, for net creditor firms, the trade credit policy is liberalized, while for net debtor firms, the tightening of customer lending policy continues. The results of the analysis during the period of the pandemic are also consistent with the statement that more financially stable companies are transmitters of liquidity in crisis conditions through the mechanism of trade credit. It is also confirmed that the customer credit policy is formed under the influence of the companies' desire to match trade receivables and liabilities. The trade credit policy during the pandemic for Bulgarian listed companies is a compromise between the desire to avoid risk and increase liquidity on the one hand, and on the other hand, the desire to maintain good customer relationships and stimulate sales through trade credit. In the first year of the pandemic, the motive to avoid risk and increase liquidity is dominant, and in the second year of the pandemic, the importance of the role of trade credit in promoting sales increases.
- Subjects
BUSINESS enterprises; CREDIT control; COVID-19 pandemic; LOANS; COLLECTING of accounts
- Publication
Management & Education / Upravlenie i Obrazovanie, 2023, Vol 19, Issue 1, p41
- ISSN
1312-6121
- Publication type
Article