Table 9 Trade credit—credit constrained results (global and by type of constraint)

PAF

0.008

0.015

0.024

0.052***

(0.019)

( 0.034)

(0.024)

(0.015)

FL

 − 0.042**

 − 0.019*

 − 0.034**

 − 0.023***

(0.019)

(0.089)

(0.140)

(0.009)

ICT use

0.230**

0.013

0.008

0.274***

(0.102)

(0.096)

(0.035)

(0.055)

Digitization

0.031

–

0.065

 − 0.105*

(0.071)

(0.088)

(0.054)

Activity_1

0.041

0.269

 − 0.133

0.024

(0.148)

(0.216)

(0.143)

(0.092)

Activity_2

–

–

–

 − 0.148

(0.143)

Activity_3

 − 0.037

0.298

 − 0.164

0.003

(0.095)

(0.215)

(0.130)

(0.069)

Activity_4

 − 0.153

0.215

 − 0.094

 − 0.048

(0.122)

(0.162)

(0.122)

(0.062)

Activity_5

 − 0.084

–

0.018

 − 0.001

(0.886)

(0.151)

(0.091)

Activity_6

 − 0.076

0.229

 − 0.122

0.065

(0.103)

(0.155)

(0.110)

(0.060)

Activity_8

0.010

0.567**

 − 0.092

0.046

(0.114)

(0.154)

(0.137)

(0.070)

Age_1

 − 0.004

0.039

0.074

0.029

(0.079)

(0.083)

(0.071)

(0.051)

Age_2

0.081

 − 0.096

 − 0.039

 − 0.002

(0.063)

(0.097)

(0.086)

(0.048)

Ownership_1

 − 0.088

0.040

0.482

–

(0.114)

(0.132)

( 2.556)

Ownership_2

0.002

0.088

0.364

–

(0.097)

(0.127)

(2.554)

Ownership_3

0.178*

0.134

0.606

–

(0.096)

(0.169)

(3.546)

Size_1

0.142

0.325**

0.144

0.085

(0.162)

(0.148)

(0.111)

(0.064)

Size_2

0.145

0.036

0.049

 − 0.034

(0.114)

(0.128)

(0.109)

(0.062)

Turnover_1

 − 0.207*

–

0.262

0.008

(0.114)

(2.657)

(0.076)

Turnover_2

 − 0.079

–

0.456

0.049

(0.062)

(2.209)

(0.067)

Turnover_3

 − 0.097

–

0.423

0.116*

(0.080)

(2.845)

(0.068)

Outlook_Better

 − 0.050

 − 0.233*

 − 0.079

 − 0.054

(0.056)

(0.125)

(0.075)

(0.049)

Hcredit_Better

0.042

0.085

0.115

0.029

(0.0801)

(0.187)

(0.081)

(0.052)

Capital Better

 − 0.001

 − 0.230*

 − 0.201**

 − 0.012

(0.060)

(0.125)

(0.087)

(0.052)

Firm_Outlook_Better

 − 0.040

 − 0.158

 − 0.013

0.013

(0.064)

(0.134)

(0.073)

(0.049)

# Obs

129

99

137

299

McFadden R²

0.544

0.409

0.385

0.254