企业资信评级的信用信息服务所面临的主要问题与对策

从1988年开始,各地、各级评估机构就一直在利用各自所有的评级信息开展对企业的资信评级业务,而且企业资信评级在北京、上海、浙江等地的发展还是比较好的.从杭州资 信评估情况而言,从1992年12成立至今,公司紧紧依靠人民银行和各金融机构的大力支持,积极实践,努力创新,探索出了一套供需市场联合的评估模式,顺应杭州市和浙江省市场经济发展的要求,评级业务得到了长足的发展,取得了良好的经济效益和社会效益.但是,从全国范围来讲,企业资信评级业务的发展还是较为缓慢,信用信息服务业务的开展还面临着诸多问题:     

杭州资信评估公司

杭州资信评估公司成立于1992年12月，从1996年起，专业从事企业信用等级评估，目前的业务范闻已逐步延伸至杭州、湖州、嘉兴、金华、衢州、丽水、温州、台州、诸暨、舟山等地，是日前浙江省产品使用范围最广的资信评估中介机构之一。     

买方市场下客户资信的构建与应收账款管理

我国经济在过去较长时期属于传统的计划经济体制，市场主体绝大多数系国有企业，受姓“公”因素影响，商品购销活动中企业对购货方(客户)的资信状况并未引起足够重视。随着市场经济的建立，商品交易已由初期卖方市场转移到当前买方市场，市场主体成分也趋向多元化，公有制、股份制、合资(营)、民营及个体经济等纷纷成为经济舞台上的重要角色。     

浙江众诚资信评估有限公司金华分公司落户金华

2006年10月26日上午．浙江众诚资信评估有限公司金华分公司开业庆典暨座谈会在义乌市宾王路68号分公司10楼会议室举行．这标志着公司正式落户金华地区．也标志着金华市正式启动借款企业资信评级市场。     

要善于"创造客户"

据报载,美国人原先没有吃酱油的习惯,这使众多酱油生产企业放弃了美国市场。但日本一家企业却认为消费习惯可以引导和培养,于是他们选择了一批易于接受新事物的美国知名家庭,定期免费赠送酱油,以此培养美国人新的消费习惯,又以这些家庭为典型,广为扩散信息,结果美国酱油市场被逐步打开,并为日本企业所垄断。从这则事例中不难看出,根本不存在不能进入的所谓“饱和”市场。应该说,市场中的潜在客户很多,客户的潜在需求也很多,创造客户关键就是要引导和培养客户的消费习惯,在挖掘和满足客户潜在需求上作文章。这个道理对银行也是一样。在新的竞…     

市场营销中要处理好四个关系

一、目标客户与一般客户的关系 市场营销中,根据企业的性质或规模"以貌取人",为目标客户"锦上添花"有余,给一般客户"雪中送炭"不足的现象比较普遍,还存在着"抓大放小"的倾向.毫无疑问,对客户采取差别化服务和分层次营销是十分必要的.但是我们对目标客户与一般客户应有正确的认识.首先,要辩证地看.目标客户与一般客户是相对的,两者会随着国家的宏观经济和产业政策以及企业自身的内部管理与运作发生转变.     

规范资信评级市场 推动征信体系建设

建立健全社会信用体系，形成以道德为支撑、产权为基础、法律为保障的社会信用制度，既是建设现代市场体系的必要条件，也是规范市场经济秩序的治本之策。借款企业资信评级是征信服务的重要组成部分，也是推动社会信用体系建设的有效途径。而有效的监督管理又是资信评级市场和谐、有序发展的重要保障。     

企业思维:从产品和价格到市场和客户

上个世纪20年代，面对消费者日益强烈的多样化需求,亨利·福特依然固守着曾给他带来辉煌的黑色T型车。通用汽车公司则对市场悄然的变化作出了积极的反应，顺应个性化的需求。最后,通用行驶在了福特的前面。50年代，当顾客要求小型轿车的呼声越来越强烈时，通用汽车公司却继续生产大型轿车——而德国的大众公司和日本人开始注意到这种呼声。此后的80年代，客户提出更高的品质要求，日本人对此作出迅速反应并提供更好的汽车。直到90年代，许多公司才终于认识到，在所有的活动中，只有产品导向或技术导向是不够的,客户导向才是最重要的；众多…     

善用"长尾"模式融资

旧式融资规则,适合于二八法则,即80%的融资,给了20%的企业.这种融资方式,具有"龙头"的特征:被融资的企业规模很大,但这样的企业的数量很少,形成了长尾曲线中的"龙头".而"长尾"模式是对"二八"法则的颠覆.也就是长尾中"尾巴"的作用是不能忽视的     

进一步发挥进出口银行的作用--访中国进出口银行行长李若谷

经过11年的发展,中国进出口银行从小变大,由弱渐强,这是一个非常值得祝贺和书写的历史记者:李行长,中国经济的发展,特别是进出口贸易的发展,对中国进出口银行来说,究竟意味着什么?李若谷:进出口行本身是一个很年轻的机构,1994年成立,到现在不过11年的历史。当初成立主要是为支持中国机电产品的出口,后来又增加     

Hedging structured credit products during the credit crisis: A horse race of 10 models

Pricing and hedging structured credit products poses major challenges to financial institutions. This paper puts several valuation approaches through a crucial test: How did these models perform in one of the worst periods of economic history, September 2008, when Lehman Brothers went under? Did they produce reasonable hedging strategies? We study several bottom-up and top-down credit portfolio models and compute the resulting delta hedging strategies using either index contracts or a portfolio of single-name CDS contracts as hedging instruments. We compute the profit-and-loss profiles and assess the performances of these hedging strategies. Among all 10 pricing models that we consider the Student-t copula model performs best. The dynamical generalized-Poisson loss model is the best top-down model, but this model class has in general problems to hedge equity tranches. Our major finding is however that single-name and index CDS contracts are not appropriate instruments to hedge CDO tranches.     

Real income growth and optimal credit use

Borrowing may be optimal if real income is expected to increase. If income growth is uncertain, optimal credit use is not obvious. A two period model of consumption for determining optimal credit use is presented. The impact of real income growth is analyzed with numerical analysis. The results may be useful for financial counselors and educators, as well as for insight into empirical patterns of credit use. The income growth rate expected by the household plays a crucial role in determining optimal credit use for current consumption.     

个人信用信息生保险产品定价中的应用

在欧美国家，个人信用体系已经非常健全，个人信用记录和评分的应用已经深入到了社会中的各个层面。在国际大型财产险企业中，有90％的公司在定价和承保决策中不同程度地使用了客户的信用信息。[第一段]     

个人信用信息在保险产品定价中的应用

在欧美国家,个人信用体系已经非常健全,个人信用记录和评分的应用已经深入到了社会中的各个层面。在国际大型财产险企业中,有90%的公司在定价和承保决策中不同程度地使用了客户的信用信息。保险公司的有关研究发现,个人信用的好坏与个人的风险是正相关的。信用评级较低的司机的理赔率比评级高的要高40%。通过在车险定价模型中考虑个人信用     

Religiosity and cross-country differences in trade credit use

Using the firm-level data over 1989–2012 from 53 countries, we find religiosity in a country is positively associated with trade credit use by local firms. Specifically, after controlling for firm- and country-level factors as well as industry and year effects, we show that trade credit use is higher in more religious countries. Moreover, both creditor rights and social trust in a country enhance the positive association between religiosity and trade credit use, while the quality of national-level disclosure mitigates the aforementioned positive association. These results are robust to alternative measures of religiosity, alternative sampling requirements and potential endogeneity concerns.     

The use of credit scoring in the mortgage industry

In times of increased focus on risk management, acquiring or growing comparatively low risk mortgage portfolios has become an attractive value proposition. Banks that pursue an aggressive growth strategy in this sector, do, however, require risk control mechanisms that enable them to make a clear judgment on how great a growth appetite they can afford to have in order to still grow profitably. Moreover, under Basel II, the proper quantification of mortgage portfolio risk tends to help the release of own capital, because the mortgage portfolio is one of those portfolios where the relative benefits of internal ratings-based approaches compared with the standardised approach are greatest. Credit scoring models in general, and credit scorecards in particular, are suitable methods for quantifying the risk of an individual mortgage applicant or mortgage customer. In addition to score card development, this paper reviews alternative scoring model types that could be used for mortgage scoring. It presents reasons why it is beneficial to build such models in-house, before focusing on the steps necessary for building a mortgage scorecard. Finally, it discusses the important topics of creating segments, deploying models and eventually monitoring models.     

我国征信产品的开发与创新之路

征信机构主要从事征信数据交易,征信数据库服务、各类资信调查报告和软件类征信产品的生产以及提供各种形式的信用管理咨询等工作.征信机构有如产品制造商,根据不同时期的市场需要,开发出一些个性化征信产品.一种征信产品向客户提供一个解决问题的决策参考.比如,为进行赊销的制造商提供企业资信调查报告,或者向商业企业提供消费者个人信用调查报告.     

Firms' use of accounting discretion to influence their credit ratings

This paper examines whether firms that deviate from an empirically modeled (“expected”) credit rating engage in earnings management activities, as measured by abnormal accruals and real activities earnings management. We find evidence that firms use income-increasing (-decreasing) earnings management activities when they are below (above) their expected ratings. We then test whether such actions are successful in helping these firms move toward their expected credit ratings. The results suggest that firms below or above their expected credit ratings may be able to move toward expected ratings through the use of directional earnings management.