外文翻譯---商業(yè)銀行的信用評分步驟（節(jié)選）

1、中文 中文 2835 字,1988 單詞， 單詞，1.1 萬英文字符 萬英文字符出處： 出處：Emel A B, Oral M, Reisman A, et al. A credit scoring approach for the commercial banking sector[J]. Socio-Economic Planning Sciences, 2003, 37(2):103-123.英文原文：A credit scori

2、ng approach for the commercial banking sectorAhmet Burak Emel, Arnold Reisman and Reha Yolalan ① Yapi Kredi Bank, Levent, 80620, Istanbul, Turkey.② The Graduate School of Management, Sabanci University, Istanbul, Turkey

3、Available online 15 March 2007The economic and, therefore, the social well-being of developing countries with fairly privatized economies is highly dependent on the behavior of a country's commercial banking sector.

4、Banks provide credit to sustain anufacturing, agricultural, commercial and service enterprises. These, in turn, provide jobs thus enhancing purchasing power, consumption, and savings. Bank failures, especially in such se

5、ttings, send shockwaves affecting the social fabric of the country as a whole and, as experienced recently, (Latin America and Asia) have the potential of a quick global impact. Thus, it is imperative that lending/credit

6、 decisions are made as prudently as possible while keeping the decision making process both efficient and effective. Commercial banks provide financial products and services to clients while managing a set of multi-dimen

7、sional risks associated with liquidity, capital adequacy, credit, interest and foreign exchange rates, operating and sovereign risks, etc. In this sense, banks may be considered to be “risk machines”. They take risks, an

8、d transform or embed such risks to provide products and services.Banks are also “profit-seeking” organizations basically formed to make money for shareholders. In their typical decision-making processes (i.e. pricing, le

9、nding, funding, hedging, etc.), they try to optimize their “risk-return” trade-off. Management of risk and of profitability are very closely related. Risk taking is the basic requirement for future profitability. In othe

10、r words, today's risks may turn up as tomorrow's realities. Therefore, banks may not live without managing these risks. Among the different banking risks, credit risk has a potential “social” impact because of th

11、e number and diversity of stakeholders affected. Business failures affect shareholders, managers, lenders (banks), suppliers, clients, the financial community, government, competitors, and regulatory bodies, among others

12、. In the age of telecommunications, the ripple effect of a bank failure is virtually instantaneous and such ripples hold the potential of global impact. In order to effectively manage the credit risk exposure of a modern

13、 bank, there is thus a strong need for sophisticated economy. An extensive literature dedicated to the prediction of business failure as well as credit scoring concepts has emerged in recent years. Financial ratios are t

14、he simplest tools for evaluating and predicting the financial performance of firms. They have been used in the literature for many decades. The benefits and limitations of financial ratio analysis are addressed in a wide

15、ly used text on managerial finance. Financial statements report both on a firm's position at a point in time and on its operations over some past period. However, there are still some limitations in using ratio analy

16、sis: (i) many large firms operate in a number of different industries. In such cases it is difficult to develop a meaningful set of industry averages for comparative purposes; (ii) inflation badly distorts a firm's b

17、alance sheet. Moreover, recorded values are often substantially different from their “true” values; (iii) seasonal factors can distort a ratio analysis; (iv) firms can employ “window dressing techniques” to make their fi

18、nancial statements look stronger; (v) it is difficult to generalize about whether a particular ratio is “good” or “bad”; and (vi) a firm may have some ratios looking “good” and others looking “bad” making it difficult to

19、 tell whether the firm is, on balance, strong or weak. Across different countries, sectors and/or periods of time, financial ratios that have been found useful in predicting failure differ from study to study. To deal wi

20、th the above shortcomings of unidimensional financial ratio analysis, a variety of methods have appeared in the literature for modeling the business failure prediction process. An excellent comprehensive literature surve

21、y can be found in Dimitras et al.. In the late 1960s, discriminant analysis (DA) was introduced to create a composite empirical indicator of financial ratios. Using financial ratios, Beaver developed an indicator that be

22、st differentiated between failed and non-failed firms using univariate analysis techniques. Altman established that ratios found not to be very significant by univariate models, could prove somewhat useful in a discrimin

23、ant function which considers the relationships among variables. Hence, he considered several variables simultaneously using multiple discriminant analysis (MDA). He argued that MDA had the advantage of considering an ent

24、ire profile of interrelated characteristics common to the relevant firms. That study also aimed to predict future failure on the basis of financial ratios. He concluded that his bankruptcy prediction model was an accurat

25、e forecaster of failure for up to 2 years prior to bankruptcy and that the model's accuracy diminishes substantially as the lead-time increases. In spite of widespread use of MDA, Altman, confesses to the following w