基于CCSD模型的上市企业信用风险评价研究

准确评估上市企业信用风险有利于银行控制贷款风险，通过遴选建立信用风险评价指标体系；采用CCSD模型确定权重，消除指标间的相关性对评价结果的影响，建立信用风险评价模型；以100家上市企业为例，对其信用风险进行实证研究。研究表明：影响100家上市企业信用风险的主要有资产负债率、流动比率、净资产报酬率、总资产报酬率和应收账款周转率等5个指标；100家上市企业中信用水平较好的10家企业是广宇发展、靖远煤电、张家界、江铃汽车、合Jl~-ff货、深桑达A、云南白药、泰复实业、宝石A和中联重科。

Research on Credit Risk Assessment for Listed Companies Based on CCSD Model

Accurate assessment of listed companies＇ credit risk helps banks to control loan risk. This paper establi- shes a credit risk assessment indicator system through the selection; introduces CCSD model to determine the indica- tor weights so as to eliminate the impacts of the correlation among indicators on the assessment results, and builds a credit risk assessment model. An empirical research is conducted on credit risk for 100 listed companies, the five key indicators that have impact on 100 listed companies＇ credit risk are asset-liability ratio, current ratio, net return on assets, return on total assets and accounts receivable turnover rate; the top 10 companies with better credit level among 100 listed companies are Guangyu Development Co. Ltd. , Jingyuan Coal, Zhangjiajie, JMC, Hefei Department Store, Shenzhen SED （A）, Yunnan Baiyao, Tai Fu Industry, Shenzhen Gem A and Zoomlion.