A CRITICAL APPRAISAL OF COMPANY BANKRUPTCY PREDICTION MODELS
作者: Rohit BishnoiReena Sahu
刊名: SCHOLEDGE INTERNATIONAL JOURNAL OF BUSINESS POLICY & GOVERNANCE ISSN 2394-3351, 2015, Vol.2 (5), pp.21-27
来源数据库: Scholedge Publishing Inc.
原始语种摘要: Study discusses four models representing credit risk theories. KMV has powerfully criticized the utilization of transition possibilities by Credit Metrics that is predicated on the average historical frequencies of defaults and credit migration. As discovered by Crouhy et al. (2000), KMV objects on the 2 crucial assumptions of Credit Metrics: (1) all corporations at intervals identical rating category have identical default rate, and (2) actual default rate is adequate to the historical average default rate. KMV considers this can't be true since default rates area unit continuous, whereas ratings area unit adjusted in separate manner. KMV has verified, through a simulation exercise, that the historical average default rate and transition possibilities will deviate significantly from the...
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关键词翻译
关键词翻译
  • credit 信用
  • historical 历史的
  • rates 地方税
  • transition 转移
  • particular 细致的
  • predicated 断言
  • default 缺席
  • since 以来
  • representing 表示
  • deviate 脱离