Tác động của hợp đồng mua sắm công tới việc sử dụng tín dụng thương mại của doanh nghiệp và hàm ý chính sách cho Việt Nam

Abstract

This paper investigates the impact of government contracts on trade credit using World Bank Enterprise Surveys with 45.690 observations of 105 countries, from 2006 to 2020. By using the Pool OLS model, empirical results demonstrate that government contracts have a negative impact on trade credit. The negative relationship between government contracts and trade credit can be explained through two channels: the direct channel from the characteristics of government contracts and the indirect channel through the signaling role of public procurement. These findings have important policy implications for Vietnam: Contracting with the government helps businesses reduce their dependence on trade credit by switching to other cheaper financing sources, especially for enterprises whose financial statements are certified by external auditors or enterprises with foreign investment.