Research On The Assessment Of Credit Risk Based On The Assessment Of Clouds’ Gravity In Listed Company

Credit is the inevitable product of the social and economic development, and an indispensable part of modern economic operation. The Maintenance and development of credit’s relations is an important prerequisite for the protection of social and economic order. The Listed companies have become the backbone during the construction of China’s market economy, and play an important role in the capital market. Credit evaluation can help protect against commercial risk, maintain normal economic order, and ensure fairness, impartiality and integrity of the capital markets; also provide the foundation to assess the degree of loans’risk for commercial banks. Through the cloud theory, the credit risk of listed companies is studied; it provides a viable method and result for credit information users.Firstly, this thesis describes the cloud theory and related concepts of credit risk, and then introduces the characteristics and sources of credit risk. It points out that the reason of credit risk is the incomplete formation transaction and distribution and introduces commonly used model. For the management features of listed companies,20assessment indicators are built from three aspects, including the level of corporate governance, related party transactions, financial situation. They are ownership structure, shareholders’ meetings and shareholders’ rights, the operation of the board of directors, the Board of Supervisors high-level constraints and incentives, information transparency, stakeholders’ related party transactions including the amount and frequency of related party transactions, and financial situation including solvency, operational capacity, profitability and development capabilities. Then DEMATEL that is suitable for the complex assessment model is selected to process the indexes, and then influence matrix is established to obtain the influence degree of each factor on the system, and detailed analysis. On this basis, the assessment of cloud’s gravity is optimization through TOPSIS and this model is devoted to handle the data of48listed company’s sample. Then all enterprises credit rating can be obtained. By comparison with the actual situation, the results of the assessment are accurate. Thus selected indicators of credit risk for the listed companies, processing and final results of the evaluation is scientific and rational.This thesis reference the theory of credit risk management, and selected assessment indicators of listed companies, and then use the improved the assessment of cloud’s gravity by Topsis to assess the credit risk rating. Not only it can make some practical and operational recommendation for listed companies, but also provide a reference for creditors, investors, banks and others.