SME funding : the role of shadow banking and alternative funding options /
This book explores current financing options for small and medium size enterprises (SMEs), with particular insight into the European market. The authors position SME funding within a risk-averse lending environment with high regulatory costs on business loans, which has arisen from the recent financ...
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| Format: | eBook |
| Language: | English |
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London :
Palgrave Macmillan,
[2017]
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| Online Access: | Connect to the full text of this electronic book |
Table of Contents:
- Dedication ; Foreword; Contents; List of Figures; List of Tables; 1: Banking Crisis and SME Credit Risk Assessment; 1.1 Introduction; 1.2 The structure of the book; 2: SMEs in Europe: An Overview; 2.1 Introduction; 2.2 European Commission Definition of SMEs; 2.3 US Small Business Administration Definition of SMEs; 2.4 Other Definitions of SMEs; 2.5 The OECD Study; 2.6 The SMEs Business Environment in Europe; 2.7 A Comparison between the EU-28, Japan and the USA; 2.8 A Brief Analysis of Sector Trends in the Period 2008-2013; 2.9 The Major Problems Confronting European SMEs
- 2.10 SMEs in EU: A Comparison Analysis of France, Germany, Italy, the Netherlands, Spain, Sweden and the United Kingdom3: European Funding of SMEs through Securitization: An Introduction; 3.1 Securitization Models: A Brief Overview; 3.2 Securitization in Europe and the USA: A Comparison; 3.3 Securitization in Europe according to Country and Typology; 3.4 Securitization in Europe for SMEs; 3.5 European Union Reform of Stock Markets; 4: Corporate and SME Credit Rating Models; 4.1 PD Corporate SME Model Development; 4.1.1 Step 1: Perimeter of Applicability and Definitions
- 4.1.2 Step 2a: Data Collection and Sampling4.1.3 Step 2b: Model Structure; 4.1.4 Step 2c: Methodological Approach; 4.1.5 Statistical Methodology; 4.1.5.1 Expert-based Methodology; 4.1.6 Step 3: Univariate Analysis; 4.1.7 Step 4: Multivariate Analysis; 4.1.8 Step 5: Calibration, Integration and Mapping to the Master Scale; 4.1.9 Step 6: Embedding the Model in the Banking Processes; 4.2 PD Corporate SME Sub-segment Models; 4.2.1 Statistical Expert-based Models; 4.2.1.1 Qualitative Modules; 4.2.1.2 Integration of the Statistical and Expert-based Components
- 4.2.2 Pure Expert-based Models4.2.2.1 Financial Modules; 4.2.2.2 Qualitative/Behavioral Modules; 4.2.2.3 Integration of Pure Expert-based Modules; 4.3 Term Structure of Probability of Default; 4.3.1 Observed Term Structures; 4.3.2 Marginal, Forward, and Cumulative Probability of Default; 4.3.3 Mapping PD Ratings to Observed Term Structures; 4.4 Transition Matrix State
- Dependent; 4.5 Validation of Internal Credit Rating Models; 4.6 Validation of the PD Model; 4.6.1 PD Model Design Validation; 4.6.2 PD Estimation Process Validation; 4.7 PD Performance Assessment and Backtesting
- 4.7.1 Process Impact on the PD Model's Performance4.7.2 PD Discriminatory Power Tests; 4.7.3 PD Calibration Tests; 4.7.3.1 PD Stability Tests; 5: SME Credit Rating Models: A New Approach; 5.1 Definition of Default; 5.2 Data Description; 5.2.1 Data Exclusions; 5.2.2 Descriptive Statics of the Data; 5.2.2.1 Overview of the Data; 5.2.2.2 Robustness of the Data; 5.2.3 Cleaning the Data; 5.3 Model Architecture; 5.3.1 Model Development; 5.3.2 Development Samples; 5.3.3 Univariate Analysis, Multivariate Analysis and Model Weights; 5.3.4 Central Tendency; 5.4 Validation of the Model