BEGIN:VCALENDAR
VERSION:2.0
PRODID:-//CREST - ECPv5.1.3//NONSGML v1.0//EN
CALSCALE:GREGORIAN
METHOD:PUBLISH
X-WR-CALNAME:CREST
X-ORIGINAL-URL:https://crest.science
X-WR-CALDESC:Events for CREST
BEGIN:VTIMEZONE
TZID:Europe/Paris
BEGIN:DAYLIGHT
TZOFFSETFROM:+0100
TZOFFSETTO:+0200
TZNAME:CEST
DTSTART:20170326T010000
END:DAYLIGHT
BEGIN:STANDARD
TZOFFSETFROM:+0200
TZOFFSETTO:+0100
TZNAME:CET
DTSTART:20171029T010000
END:STANDARD
END:VTIMEZONE
BEGIN:VEVENT
DTSTART;TZID=Europe/Paris:20171128T121500
DTEND;TZID=Europe/Paris:20171128T131500
DTSTAMP:20260715T062340
CREATED:20171116T145054Z
LAST-MODIFIED:20241104T133451Z
UID:11968-1511871300-1511874900@crest.science
SUMMARY:Paul Beaumont (Paris Dauphine-CREST) - "Customer capital and trade credit: Evidence from exports"\, joint work with Clémence Lenoir (CREST-ENSAE)
DESCRIPTION:\nThe Microeconometrics Seminar: Every Tuesday at 12:15 pm.\nTime: 12:15 pm – 1:15 pm\nDate: 28th of November 2017\nPlace: Room 3001.\nPaul Beaumont (Paris Dauphine-CREST) – “Customer capital and trade credit: Evidence from exports”\, joint work with Clémence Lenoir (CREST-ENSAE) \nAbstract: \nA recent strand of papers (e.g.\, Foster et al. 2008 ; Gourio and Rudanko\, 2014) claim that the mechanisms underlying the formation of a customer base are key in understanding the evolution of aggregate productivity or Tobin’s Q. In this paper\, we investigate whether liquidity constraints affect firms’ customer acquisition. Exploiting an exogenous variation in payment delays triggered by a 2009 French reform\, we rely on transaction-level export datasets to test whether changes in working capital financing affects the propensity to acquire new clients. The effect of the reform on payment delays is isolated using a threshold rule introduced by the law. The estimations strongly support the hypothesis that liquidity constraints play an important role in the expansion of the customer base in international markets: an exogenous decrease in payment delays by ten days is found to raise the number of clients (volume of exports) by 3.7% (3.8%) in the countries already served by the firm and to increase the probability of exit by 2.2 percentage points.\n \n\nOrganizers:\nLaurent Davezies (CREST – ENSAE)\,  Arne Uhlendorff (CREST – ENSAE) & Yannick Guyonvarch (CREST – ENSAE)\nSponsors:\nCREST\nLunch registration:\nfood provided\, no registration\n\n
URL:https://crest.science/event/paul-beaumont-insee-crest-customer-capital-and-trade-credit-evidence-from-exports-joint-work-with-clemence-lenoir-crest/
CATEGORIES:Applied Seminar,Economics,Microeconometrics,Seminars
ATTACH;FMTTYPE=:
END:VEVENT
END:VCALENDAR