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%T Trade credit and bank relationships: evidence from pre-World War I Belgium %A Deloof, Marc %A Overfelt, Wouter van %J Applied Economics %P 26 %D 2010 %K trade credit; bank-firm relationships; Pre-World War I Belgium; economic institutions %= 2011-04-26T10:45:00Z %~ http://www.peerproject.eu/ %> https://nbn-resolving.org/urn:nbn:de:0168-ssoar-243054 %X We investigate the determinants of trade credit granted by suppliers in a historical environment which was characterized by high information asymmetries and strong banks, focusing on the role of bank-firm relationships. Our results, which are based on a unique sample of 535 firm-year observations for 125 listed Belgian firms in four dominant industries in the period 1905-1909, are generally consistent with the financing role of trade credit. They suggest that trade credit was a tool for channeling funds from firms with close bank ties to other firms, which is consistent with findings for contemporary developing countries. %C USA %G en %9 journal article %W GESIS - http://www.gesis.org %~ SSOAR - http://www.ssoar.info