Study On Correlated Credit Risk Of BL Real Estate Company

Credit risk is the most important and common factor of bank bankruptcy.Controlling credit risk is very important to prevent financial risk and ensure the smooth operation and development of economy.Enterprise groups are the main credit objects of commercial Banks and other financial institutions.However,enterprise groups are often large in scale,complicated in their internal relations and significant in the amount of related transactions.Strong correlation means that the credit risk of a company in an enterprise group will lead to a chain reaction among other companies in the group,so that the whole group will have correlated credit risk and even fall into credit crisis.Thus it can be seen that the correlation relationship of "affecting the whole" is an important factor for the credit risk of enterprise groups.Although the consequences are serious,the credit risk caused by the correlation relationship fails to attract enough attention of commercial Banks and other financial institutions due to its concealment and complexity.Based on the importance of correlated credit risk in the link of credit risk control,this paper reviews the research contents and status quo of credit risk evaluation measurement and correlated credit risk in domestic and foreign literatures,and defines the concepts of credit risk,enterprise group and related transactions.On the basis of information asymmetry theory,principal-agent theory and transaction cost theory,BL real estate company is taken as a case to introduce and analyze its financial status,related relationship,related transaction status and credit risk status.Further at the same time the principal component analysis was used to construct the credit risks of the Logistic model and Logistic relevant credit risk model,enterprise group's internal relationship of BL company and related party transactions correlation study of credit risk,it is found that after joining affiliate transaction index,the correlation between the credit risk is much higher than its credit risk probability;Then it analyzes the problems of related credit risks in BL companies and puts forward countermeasures and Suggestions.The research of this paper is of great significance for strengthening the attention to related transactions and related relationships within enterprise groups,avoiding the occurrence of related credit risks,and ensuring the steady operation of enterprise groups.Meanwhile,it provides a new perspective for the measurement of customer credit risk of commercial Banks and other financial institutions.