Inter-Firm Linkages and the Wealth Effects of Financial Distress Along the Supply Chain

By Michael Hertzel, Zhi Li, Micah S. Officer, K. J. Rodgers. 2008

154 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics

View Paper: https://www.semanticscholar.org/paper/e884ff4dfe7b1235e353d4ca4ae5001e457a962d

Citations in the corpus

• Customer Concentration and Loan Contract Terms (2017, unknown): “Our model reconciles the evidence that firms with more concentrated customer bases are more profitable (Patatoukas (2012)) with the observation that those relationships are inherently risky and may prompt default and bankruptcy along the supply chain (Hertzel et al. (2008) and Kolay et al.”
• Corporate Innovation Along the Supply Chain (2018, unknown): “…literature examines how corporate financing and investment decisions affect supply-chain relationships, such as anti-takeover measures (Cen et al. 2015b), mergers and acquisitions (Fee and Thomas 2004, Shahrur 2005), cross ownership (Fee et al. 2006), and financial distress (Hertzel et al. 2008).”
• Corporate Fraud and the Value of Reputations in the Product Market (2014, unknown): “…actual sales to the large customers.4 This database is extensively used in previous studies, including Fee and Thomas (2004), Fee et al. (2006), and Hertzel et al. (2008).5 Based on previous studies examining corporate reputations, including Klein and Leffler (1981), we construct three measures…”
• The impact of climate change on the cost of bank loans (2020, unknown): “compares the cost of borrowing of firms more exposed to climate risk to those with less exposure and is similar to the measures used in Hong et al. (2019) and Huynh et al. (2020). Following Huynh et al. (2020), we use the state location of a firm‟s headquarter to determine its exposure to climate ri”
• Financial distress and customer-supplier relationships (2017, unknown): “Hertzel et al. (2008) document a negative valuation effect of a customer's bankruptcy fi lings on its suppliers and the rivals in the suppliers' industries.”
• Bankruptcy spillover effects on strategic alliance partners (2012, unknown): “49%) documented by Hertzel et al. (2008). The long-term horizontal alliance partners experience the worst performance with a CAR(-1,+1) of -2.”
• Customer-Supplier Relationships and Corporate Tax Avoidance (2017, unknown): “One stream of research in this literature examines how information diffusion along the supply chain affects the operating and financial performance of customers and suppliers (e.g., Hertzel et al., 2008; Cohen and Frazzini, 2008).”