外部信用评级隐含的风险信息研究综述

Summarize on Study on Connotative Risk Information of External Credit Assessment

外部信用评级将融资过程与信用分析过程相分离,为资金供需双方的信息缺口开辟通渠,降低投资人信息不对称的信息搜寻成本和融资企业的交易成本,提高金融管理效率和市场效率。本文对外部信用评级与违约率、回收率、转移矩阵等风险信息隐含间的关系以及不同评级机构间的信用评级差异的国际最新研究成果进行了综合评述。

External credit rating separates finance process and credit analysis process, joints information gap between supply and demand, so as to decrease information seeking cost caused by information asymmetry and capital transaction cost for the purpose of increasing finance management efficiency and marketing efficiency. This paper summarizes the latest study of the relationship between external credit assessment and connotative risk information of default rate, declaim rate and transition metrics and difference between different credit assessment institutions.