Research On Consistency Problem Between Two Types Of Credit Risk Model Based On Different Information From Accounting And Market

According to various information sources, there are two different models measuring credit risks, accounting credit risk model and marketing credit risk model. They are entire diverse models using different information sources and estimation approaches; however, they are identification models of risks based on the same estimation object, which is the fundamental of comparative study among models. Nevertheless, those emerging antinomies from domestic research are directly challenged the internal logic between the two models foresaid.In order to prove the consistency of internal logic connection of accounting credit risk model and marketing credit risk model, this dissertation systematically discussed the definitions and analysis framework of consistency problem of two kinds of credit risk models at first. Then, to measure and rank the credit estate of 288 listing companies, it adopted LOGISTIC and KMV model, which are dealt with different credit risks. Lastly, we focused on distinguishing the consistency of ranking and trend by the ordinal results in the pool data of models.The conclusion reveals that the two kinds of credit risk models have the same ordinal results from time series perspective, as well as they reflect the changing trends of estimation object's credit statement, but the consistency from cross-section. Due to the various models'efficiencies and other restrict factors existing, the different credit risk models led to diversity occurring between credit estates of different estimation objects.