Abstract: Based on systematically exploring the transaction costs and risk, as well as the effect on the firm’s operations of trade credit mode, such as accounts payable, notes payable and prepayments, this paper empirically study on the relationship between financial report quality and trade credit mode choice of firm. The results show that high quality financial report can significantly increase the availability of accounts payable and notes payable, reduce the use of prepayments. through comparing and analyzing, this paper has confirmed that the effect of high quality financial report on the trade credit mode choice of firm is much stronger in private-controlled companies.

摘要： 在系统考察了应付账款、应付票据和预付账款等商业信用模式的交易成本、风险及其对企业生产经营活动影响的基础上，利用信息经济学的信号传递理论，实证检验了财务报告质量对公司商业信用模式选择的影响。研究发现，高质量的财务报告能够显著增加企业应付账款和应付票据的可获得性，减少对交易成本较高的预付账款的使用。进一步比较和分析证实，上述财务报告质量对商业信用模式选择的作用在民营控股公司中表现得更强烈。