Fig 1.
Flow chart of empirical model.
Table 1.
Relevant variables and definitions.
Table 2.
Descriptive statistics of main variables.
Table 3.
Sensitivity analysis of short-term debt and long-term use.
Fig 2.
Short-term debt for long-term use and default risk of supply chain enterprises.
Table 4.
Long term use of short-term debt and default risk of supply chain enterprises.
Table 5.
Short-term debt for long-term use, enterprise performance and default risk of supply chain enterprises.
Fig 3.
Customer effect analysis.
Table 6.
Customer effect analysis test.
Fig 4.
Enterprise heterogeneity analysis.
Table 7.
Enterprise heterogeneity analysis.
Table 8.
Robustness test.