Managerial Overconfidence, Government Intervention and Trade Credit
CAO Xiang1，2， KUANG Xiao-ping1，LIU Jun3
(1.School of Finance, Tax & Public Management, Jiangxi University of Finance and Economics, Nanchang330013, China; 2.School of Finance, Hunan University of Commerce, Changsha410205, China; 3.Business School, Hunan University, Changsha 410082, China)
Abstract This paper studies the influences of government intervention and managerial overconfidence on trade credit with the data of China’s listed companies from 2007-2009. It is found that there is a negative correlation between government intervention and trade credit, and there is a positive correlation between managerial overconfidence and trade credit. Further study shows that when the overconfident managers exist in state-owned enterprises, they will provide less trade credit than they exist in private enterprises.
2013, Vol. 1 
