Study on Fuzzy Evaluation of Credit Risk of Corporate Bond
نویسندگان
چکیده
The credit risk evaluation of corporate bond is one of the difficult and hot research fields in the related research and plays a key role for corporate financing. Based on the fuzzy theory and analytic hierarchy process, a new credit risk evaluation model of corporate bond is presented. First an evaluation indicator system of credit risk of corporate bond is designed through analyzing the characteristics of the evaluation indicator with more details; Second, analytic hierarchy process is used to determine the level of different indicators and multistage comprehensive fuzzy evaluation is used to evaluate the credit risk of corporate bond. Finally, corporate bond of 10 enterprises are taken for examples to evaluate the credit risk and verify the validity and feasibility of the model and the experimental results show that the model can evaluate the credit risk of different corporate bond of different enterprises practically.
منابع مشابه
Corporate Governance and Credit Risk in Iranian Banking Industry
The main purpose of this research is to investigate the impacts of corporate governance on credit risk in the Iranian banking industry. The sample consists of 20 banks listed on the Tehran Stock Exchange during 2011-2016 and the statistical method is panel data. In this research, credit risk and corporate governance are the dependent and independent variables, respectively. The meta-synthesis m...
متن کاملFair Value Accounting for Liabilities and Own Credit Risk
Changes in credit risk may arise when either the value or the risk of corporate assets changes. Changes in the equity value associated with the changes in the asset value and changes in asset risk can be characterized into potentially countervailing direct and indirect effects. The indirect effect of risk on equity value is a function of factors that affect the debt value of including leverage,...
متن کاملInternal Liquidity Risk in Corporate Bond Credit Spreads
The determinants of a substantial portion of bond credit spreads remain puzzled in literature. Through investigating corporate bond credit spreads from year 2000 to 2005, we find that corporate internal liquidity still significantly impacts on corporate bond credit spreads when controlling other well-known variables stated in literature. Additionally, we also find that there is a systematic int...
متن کاملThe Study of the Effect of Diversification Strategy, Cost Leader-ship Strategies and Product Differentiation on Business Unit Value
Changes in credit risk may arise when either the value or the risk of corporate assets changes. Changes in the equity value associated with the changes in the asset value and changes in asset risk can be characterized into potentially countervailing direct and indirect effects. The indirect effect of risk on equity value is a function of factors that affect the debt value of including leverage,...
متن کاملCredit spreads, daily business cycle, and corporate bond returns predictability∗
The part of credit spread that is not explained by corporate credit risk forecasts future economic activity. I show that the link with aggregate business risk and bond liquidity risk explains this finding. Once I project spreads on these two risk factors, which are readily measurable with the daily frequency, in addition to corporate credit risk, the forecasting power of the residual spread red...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
برای دانلود متن کامل این مقاله و بیش از 32 میلیون مقاله دیگر ابتدا ثبت نام کنید
ثبت ناماگر عضو سایت هستید لطفا وارد حساب کاربری خود شوید
ورودعنوان ژورنال:
- JDIM
دوره 11 شماره
صفحات -
تاریخ انتشار 2013