Firm size, credibility and desirable modes of payment - Based on the SMEs in Zhejiang province

With the policy of reform and opening-up and entering into WTO, Chinese economy has been developing at a considerably high speed in the past decades, and the small and medium-sized enterprises (SMEs) are becoming an important pillar to the economic development and social stability in Zhejiang provin...

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Bibliographic Details
Main Authors: Li-wei Lu, Xiao-lin Zhou, Cheng-chao Yu
Format: Conference Proceeding
Language:English
Subjects:
Companies
Contracts
credibility
Educational institutions
firm size
International trade
Marketing and sales
modes of payment
SME
Zhejiang province
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Summary:With the policy of reform and opening-up and entering into WTO, Chinese economy has been developing at a considerably high speed in the past decades, and the small and medium-sized enterprises (SMEs) are becoming an important pillar to the economic development and social stability in Zhejiang province. However, the SMEs are facing many difficulties during development, among which financing is one of the main problem. Therefore, the importer's firm size and credibility will influence the exporter's choice of modes of payment in international trade. On the basis of analyzing the current status of Zhejiang's SME development, and the advantages and disadvantages of different modes of payment, this paper further analyzes the relationship among firm size, credibility and desirable modes of payment based on the data of SMEs in Zhejiang province.
DOI:10.1109/ICECC.2011.6068155