Please use this identifier to cite or link to this item:
|Title:||Default risk drivers in shipping bank loans||Authors:||Kavussanos, Manolis G.
|Major Field of Science:||Social Sciences||Field Category:||Economics and Business||Keywords:||Bank loans;Credit scoring models;Default risk;Shipping||Issue Date:||1-Oct-2016||Source:||Transportation Research Part E: Logistics and Transportation Review, 2016, vol. 94, pp. 71-94||Volume:||94||Start page:||71||End page:||94||Journal:||Transportation Research Part E: Logistics and Transportation Review||Abstract:||This paper proposes a credit scoring model for the empirical assessment of default risk drivers of shipping bank loans. A unique dataset, consisting of the credit portfolio of a ship-lending bank is used to estimate a logit model with two-way clustered adjusted standard errors, ensuring robust inferences. Industry specific variables, captured through current and expected conditions in the extremely volatile global shipping freight markets, the risk appetite of borrowers–the shipowners – expressed through the chartering policy they follow – and a pricing variable, are shown for the first time to be the important factors explaining default probabilities of bank loans.||ISSN:||1366-5545||DOI:||10.1016/j.tre.2016.07.008||Rights:||© Elsevier||Type:||Article||Collaboration :||Athens University of Economics and Business
Cyprus University of Technology
|Appears in Collections:||Άρθρα/Articles|
checked on Jul 30, 2020
WEB OF SCIENCETM
checked on Jul 31, 2020
Page view(s) 50145
checked on Aug 4, 2020
Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.