Table 5

New variables emerged

Macro variableVariableDescription
DriversNeed to collaborate with a relevant customerCollaborating with a relevant customer offering the solution, which is generally strategic and/or relevant from a turnover viewpoint
Balance sheet compositionImproving balance sheet’s composition
BarriersUncertain marketabilityUncertain marketability of products used as collateral in IF solutions
Finding a financial institution willing to take the riskFor the implementation of innovative SCF solutions, difficulties in finding a financial institution willing to take the risk and collaborate on the solution
Complexity and time effortsImplementing some SCF solutions might be complex and require time efforts and investments
Cultural changeCultural change required to implement a SCF solution (i.e. fear of change, distrust toward new financial instruments and new financial institutions)
Contingency variablesRegulation about the nonpossessory pledgeNonpossessory pledge defines that the pledged asset in a SCF solution (e.g. IFT) can be used by the company in its operations after the financing was received.
Source: Authors’ own creation

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