... 5 state-owned banks, firms attracting GM-related investor postings on official interactive platforms, firms facing independent director dissent at board deliberations, and firms receiving regulatory inquiry letters. In response, vetoed firms rely more on trade credit as a substitute financing source...

...Lexin Zhao; Dongqing Li; Qianbin Feng Purpose This study mainly investigates two pivotal questions: (1) How does the acquisition of government procurement contracts influence corporate strategies in trade credit provision? (2) What underlying mechanisms drive the observed changes in trade credit...