Utilize este identificador para referenciar este registo: http://hdl.handle.net/10400.6/2905
Título: Determinants of default: empirical evidence from portuguese small and medium-sized manufacturing firms
Autor: Geraldes, Helena Susana Amaral
Orientador: Gama, Ana Paula Bernardino Matias
Palavras-chave: Modelo de Credit Scoring -- Portugal
Pequenas e médias empresas -- Gestão do risco
Data de Defesa: 2010
Resumo: Previous studies focus on modelling credit default in the bank perspective when analysing the bank-customer relationship. Inversely, this paper aims to develop a credit scoring model that could be used by SMEs, and that improves their knowledge about their default risk. Using data of 1260 Portuguese Manufacturing SMEs, over the period of 1998-2006, the results show that the probability of non-default is an increasing function of profitability, liquidity, coverage and activity, and a decreasing function of leverage. Concerning qualitative factors, the results report that smaller firms and firms with just one bank relationship have a higher probability of default. The analysis of management quality and ownership factors demonstrate that firms where the owner is at the same time the manager and non-family firms are more financially secure in terms of the Probability of Non-Default. Moreover, the performance and qualitative measures for the model developed show that the model is accurate.
URI: http://hdl.handle.net/10400.6/2905
Designação: Dissertação apresentada à Universidade da Beira Interior para a obtenção do grau de mestre em Gestão
Aparece nas colecções:FCSH - DGE | Dissertações de Mestrado e Teses de Doutoramento

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