Emilia Garcia-Appendini
Title
Prof. Dr
Last Name
Garcia-Appendini
First name
Emilia
Email
emilia.garcia-appendini@unisg.ch
Phone
+41 71 224 7760
2 results
Now showing 1 - 2 of 2
- Some of the metrics are blocked by yourconsent settings
Item type:Publication, Does Climate Change Affect Firm Sales? Identifying Supply Effects(2026-09-03); - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Firms as liquidity providers: Evidence from the 2007-2008 financial crisisUsing a supplier-client matched sample, we study the effect of the 2007-2008 financial crisis on between-firm liquidity provision. Consistent with a causal effect of a negative shock to bank credit, we find that firms with high pre-crisis liquidity levels increased the trade credit extended to other corporations and subsequently experienced better performance as compared to ex-ante cash-poor firms. Trade credit taken by constrained firms increased during this period. These findings are consistent with firms providing liquidity insurance to their clients when bank credit is scarce and provide an important precautionary savings motive for accumulating cash reserves.Type:journal articleJournal:Journal of Financial EconomicsVolume:109Issue:1Scopus© Citations 384