The Study On Enterprise Credit Assessment Based On Financial And Non-financial Factors

With the release of the new Basel III and the outbreak of the financial crisis in2008,it led the all countries focus back to the credit rating and its regulation, and the level of risk management of banking industry has put forward a further demand. Now, the existing credit evaluation model is mainly based on financial statement data that is provided by enterprise to forecast corporate default rate, however, these models only based on the historical data analysis of the enterprise and lack of predictability. Therefore, as to how to improve the predictability of the enterprise credit assessment model has become a common concern in academic and the banking industry in our country.The foreign scholar through the study found that, when financial factors and non-financial factors are taken into consideration comprehensively, it can more precisely forecast corporate default rate. By reading the extensive literature, in recent years during the study of enterprise credit rating, the scholars in the study of enterprise credit assessment, while considering the non-financial factors, but only analyzed the non-financial factors qualitatively, without a quantitative analysis.This article listed942manufacturing companies for empirical research, in Shenzhen Stock Exchange A, and selected a part of financial factors and non-financial factors as variables, through empirical research to explore the impact of financial factors and non-financial factors of enterprise credit assessment. The statistical software SPSS18.0is used as a tool to select data descriptive statistics, correlation analysis and regression analysis. The action mechanism between the non-financial factors and credit rating are analyzed and descripted, and connecting with the domestic and foreign scholars on the credit rating model research methods, to build a theoretical model of financial factors and non-financial factors of enterprise credit assessment. On this basis, the corporate governance factors, the ownership structure and the market status of the enterprises were analyzed from three points of view, there is the underlying assumption:the expected default frequency and the enterprise credit was negatively correlated. We put forward relevant assumptions and through empirical analysis.