Creditworthiness evaluation of Italian SMEs at the beginning of the 2007-2008 crisis: An MCDA approach
| Autor: | Marco Corazza, Riccardo Gusso, Stefania Funari |
|---|---|
| Jazyk: | angličtina |
| Rok vydání: | 2016 |
| Předmět: |
Small and Medium-sized Enterprises (SMEs)
Creditworthiness evaluation Multi-Criteria Decision Analysis (MCDA) 2007-2008 crisis Economics and Econometrics Solvency Settore SECS-S/06 - Metodi mat. dell'economia e Scienze Attuariali e Finanziarie 021103 operations research Financial economics media_common.quotation_subject 0211 other engineering and technologies 02 engineering and technology Creditworthiness evaluation Multiple-criteria decision analysis Recession Small and Medium-sized Enterprises (SMEs) Multi-Criteria Decision Analysis (MCDA) Homogeneous Order (exchange) Financial crisis 0202 electrical engineering electronic engineering information engineering 020201 artificial intelligence & image processing Business Marketing 2007-2008 crisis Finance Decision analysis media_common |
| Popis: | In this paper we use a Multi-Criteria Decision Analysis (MCDA) approach in order to evaluate the creditworthiness of about 40,000 Italian Small and Medium-sized Enterprises (SMEs) viewed as potential applicants for bank loans in the three-year period 2006–2008, a timespan embracing the beginning phase of the recent economic and financial crisis. This approach is able to consider simultaneously different factors affecting the firms’ solvency level. The results obtained in terms of classification into homogeneous rating classes, scoring and migration probabilities show that the proposed approach is able to unveil early signal of recession in the Italian SMEs sector. Furthermore, some comparisons between our approach and a couple of known methodologies for creditworthiness assessment show the goodness of our method. |
| Databáze: | OpenAIRE |
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