Credit risk and Basel II: are nonprofit firms financially different?
We estimate a model of credit risk for portfolios of small and medium-sized enterprises, conditional on being a nonprofit (NP) or for-profit (FP) firms. The estimation is based on a unique data set on Italian firms provided by a large commercial bank. We show that the main variables to identify creditworthiness are different for NP and FP firms. Traditional balance sheet information seems to be less crucial for NP firms.
Volume (Year): 4 (2008)
Issue (Month): 3 ()
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- Kraft, Kornelius & Czarnitzki, Dirk, 2004.
"Are Credit Ratings Valuable Information?,"
ZEW Discussion Papers
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- Mario Quagliariello, 2007. "Banks' riskiness over the business cycle: a panel analysis on Italian intermediaries," Applied Financial Economics, Taylor & Francis Journals, vol. 17(2), pages 119-138.
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