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Chinese Corporate Credit Rating And Application

Posted on:2002-04-12Degree:DoctorType:Dissertation
Country:ChinaCandidate:S Q ZhuFull Text:PDF
GTID:1116360062480357Subject:Management Science and Engineering
Abstract/Summary:PDF Full Text Request
At present, because of existing asymmetric information between investors and enterprises runners, economics of information need to solve two problems. One is adverse selection owing to investors cannot correctly distinguish ability of enterprises runners, the other is moral hazard owing to runners deceiving behavior. Adverse selection can be solved partly through signal revealing. Moral hazard can be solved through incentive mechanism, the object of this dessertation is creating some new methods on the base of enterprises credit evaluation traditional methods, through quickly and on- line information disclosing, and norming enterprises runners' .especially small enterprises runners' operational behavior.The traditional methods of enterprises credit evaluation is decided by using synthesize score method. The shortage of this method is subjective, no comparing among industries, deciding difficultly weight.To solve such problems of traditional credit evaluation methods that is subjective and no comparing among industries, the research on Enterprises Credit evaluation Methods Innovation and Application is done in this dessertation. Through the comprehensive analysis and studies, new conclusions are obtained and some new ways are presented. The main contents of this dissertation are following.Credit evaluation grading include enterprise bond evaluation grading s corporation stock evaluation grading and enterprises credit evaluation grading.This thesis, which consist of ten chapters, mainly studies the theories, methods and their application of negotiable securities and enterprises credit evaluation grading in China.The first chapter deeply disussed and analysed defining , functions and current situation at home and abroad of negotiable securities and enterprises credit evaluation grading, and points out the current existing problems and constructive ideas in evaluation grading.The' second chapter and the third chapter systematically analysed evaluation index systems,score standards, content and symbol of negotiable securities and credit evaluation grading, and points out limtations of traditional methods of negotiable securities and enterprises credit evaluation grading.The fourth chapter applies the evaluation methods of analytical hierarchy process and fuzzy comprehensive judgement to the setting up the evaluation model for commercialbanking credit,and use the model to do experiment.Considering the existing problems of traditional methods that is subjective and no comparing among industries, The fifth chapter applies information entropy theory and multi-layer fuzzy comprehensive judgement to setting up a model for industrial enterprises bonds financial quality evaluation grading,and improves the traditional evaluation grading methods of enterprises bonds.The sixth chapter applies weighted square sum method to evaluate for industrial enterprises bonds financial quality, research results shows that the method is better than other methods.In seventh chapter,a BP(Back propagation)neural network model is applied to evaluate enterprises bonds finacial quality grading, which deals with fwelve kinds of factors of enterprises bonds f inacial quality. Simulation result shows that the model need not defining weight number,and is better than other methods.By setting up index system of corporation evaluation grading, the eighth chapter applies catastrophe theory to evaluate the score of share company. Result shows that the method is better'than method of analytical hierarchy process.The ninth chapter applies chaos theory to simulate and evaluate for the process of enterprises life cycle.The tenth chapter is systematically the author's summary in his research.The author strive to combine the qualitative analysis with quantitative analysis, Especially, stress the methodical theory applications in the evaluation grading of enterprise bond>corporation stock and enterprises credit,and use systematic analysis method, anlyti-cal hierarchy process; Information entropy theory; multi - laye...
Keywords/Search Tags:Enterprise bond evaluation grading, nterprises credit evaluation grading and corporation stock evaluation grading, Index system of evaluation grading, Analytical hierarchy process, Information entropy theory, multi-layer fuzzy comprehensive judgement
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