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dishonored bill |
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See: bad debt, nonpayment
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We find that increases in yield spreads and the dishonored bills ratio, whether driven by increases in business risk or lowered expectations among investors about the future of the Korean economy, had effects that extended well beyond shifts in simple precautionary and speculative demands for the won. A reduction in dishonored bills resulting from contractions in credit among companies and corporations' conservative management to avoid default are among the main factors behind the decline in failures, it said in a report. The decline in the number of failures is attributed mainly to ''a reduction in dishonored bills resulting from contractions in credit among companies as well as the effect of public financial assistance being extended to small and medium sized businesses,'' Teikoku Databank said. |
dishonored bill |
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