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Marisca, Carmelo | Barresi, Gustavo | Rappazzo, Nicola

Trade credit and textiles manufacturers' behaviour during the Great Depression in the Kingdom of Italy : insights from the analysis of bankruptcy : proceedings accounting data

2022 - Franco Angeli

91-113 p.

  • Introduction: The focus of this paper is on textiles industry dynamics in the Kingdom of Italy during the Great Depression. Despite the crisis and the spread of bankruptcies, the textile sector experienced an almost constant rate of growth, thanks also to trade credit granted by manufacturers. Aim of the work: Through the analysis of bankruptcy proceedings accounting data, the authors tried to catch how the geographical localisation of customers (small bankrupt retailers) has influenced the grant of trade credit by textile manufacturers. Methodological approach: This work is based on the exam of financial information collected by the "Unione Commercianti in Manifatture di Milano", in the period 18981902, over more than 1,700 bankruptcy proceedings in the textiles industry. For 512 cases, accounting data were reported in the journal of the Union. The authors have aggregated at national, macroregional and regional level accounting data of the procedures.
  • Main findings: The analysis highlights that the growth of textile industry was accompanied by a wide fragmentation of trade credits, pushing manufactures to differentiate their behaviour according to the geographical localisation of customers. The analysis also offered some interesting insight about textiles sector dynamics in the Kingdom of Italy, at national, macroregional and regional level. Originality: The paper permits to enlarge the understanding of textile industry dynamics during the Great Depression, adopting an approach overlooked in literature. [Publisher's text].

Ist Teil von

Contabilità e cultura aziendale : rivista della Società Italiana di Storia della Ragioneria : XXII, 2, 2022