Home  Journals  Finance and Credit  22(454) - 2011 June

Using world practice of default probability estimation on Russian bills market

Available online: 14 June 2011

Subject Heading: Stock market

JEL Classification: 

The article investigates and provides consolidated classification for the global theory and practice of debt instruments credit risk valuation accumulated during the last several decades. From the wide range of valuation approaches the authors selected that ones which could be applied to Russian bills of exchange given their peculiar financial properties. On the ground of analysis conclusions about necessity of replacement of subjective expert valuation with scientific multifactor models are made.

Keywords: credit risk, probability of default, bill of exchange, bill drawer, expert valuation, scoring valuation models

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ISSN 2311-8709 (Online)
ISSN 2071-4688 (Print)

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