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Title :Utilizing the distance to default index for credit risk analysis within the shipping industry
Alternative Title :Εφαρμόζοντας τον δείκτη "distance to default" για την ανάλυση πιστωτικού κινδύνου στη ναυτιλία
Creator :Ntantasiou, Eleni-Konstantina
Νταντάσιου, Ελένη-Κωνσταντίνα
Kozatzanidou Styliani
Κοζατζανίδου, Στυλιανή
Contributor :Drakos, Konstantinos (Επιβλέπων καθηγητής)
Tsouknidis, Dimitrios (Εξεταστής)
Tsekrekos, Andrianos (Εξεταστής)
Athens University of Economics and Business, Department of Accounting and Finance (Degree granting institution)
Type :Text
Extent :50p.
Language :en
Identifier :http://www.pyxida.aueb.gr/index.php?op=view_object&object_id=7888
Abstract :As it is widely known, the shipping industry is undoubtedly a highly capital intensive industry since it requires and relies on huge amounts of investment capital. Thus, we decided to work on this topic, as we strongly believe that Credit Risk Management is of utmost importance for all the stakeholders related to shipping, especially for banks, ship owning companies, investors and finally charterers. In more detail, we analyzed micro, sector related and macro panel data of 43 stock exchange listed shipowning companies across 12 years (2007-2018) in order to determine whether and which of the above mentioned factors explain and affect the Distance to Default metric. The findings of our analysis highlight the fact that according to our baseline model, micro data extracted from the financial reports of the individual shipowning companies are not statistically significant, whereas sector specific and macro related variables play a role and affect the risk of default in the shipping sector.
Subject :Πιστωτικός κίνδυνος
Μοντέλο KMV
Κίνδυνος αθέτησης
Ναυτιλία
Credit risk
Distance to default
KMV model
Default risk in shipping
Shipping industry
Date Available :2020-07-05 12:30:48
Date Issued :10-12-2019
Date Submitted :2020-07-05 12:30:48
Access Rights :Free access
Licence :

File: KozatzanidouNtantasiou_2019.pdf

Type: application/pdf