published_or_final_version / Economics and Finance / Doctoral / Doctor of Philosophy

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published_or_final_version / Criminology / Master / Master of Social Sciences

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Magistro darbe yra suformuluoti Lietuvoje veikiančių bankų fizinių ir juridinių asmenų kreditavimo principai ir būdai, išanalizuoti ir susisteminti įvairių Lietuvos ir užsienio autorių teoriniai ir praktiniai bankų kredito valdymo metodai, pateikti populiariausi kredito rizikos valdymo metodai, įvertinti kreditavimo paslaugų analizei taikytini metodai. Išsamiai atlikta AB DnB NORD banko kreditavimo paslaugų analizė, bei numatytos kreditavimo prognozės. Patvirtinama autorių suformuluota mokslinio tyrimo hipotezė, kad AB DnB NORD banko kredito rizikos valdymas turi būti gerinamas, taikant įvairesnius kredito rizikos valdymo metodus modelius. / This master’s final paper is formulate Lithuania banks operating in the natural and legal persons of credit principles and techniques to analyze and structure the various Lithuanian and foreign authors of theoretical and practical approaches to the management of bank credit, to provide the most popular credit risk management techniques, to assess the credit service analysis methods. In detail by the AB DnB NORD bank credit analysis services, and forecasts for the credit. Confirmed by the authors formulated the research hypothesis, that of AB DnB NORD bank credit risk management should be improved through the diversification of credit risk management methods of the models.

This thesis has examined the effectiveness of the administration of the Indiana Uniform Consumer Credit Code by the Indiana Department of Financial Institutions. The overall effectiveness was analyzed in terms of three broad criteria: (1) the ability of the regulatory provisions of the law to be correctly interpreted and applied; (2) the prospective ability of the enforcement mechanisms of the law to halt, restrain, redress the effect of, and deter violations; and (3) the willingness of the administrative agency to efficiently and effectively utilize the administrative powers and perform the administrative duties delegated to it. Each was scrutinized independently in preparing the findings for and deriving the conclusions from this study.The writer found that the Code was extremely complex and difficult to interpret; that the enforcement mechanisms were far from ideal; and that the Department generally failed to compensate for these weaknesses as shown by the unaggressive utilization of its administrative powers and the complete failure to carry out certain of its administrative duties.

This thesis stems from my research into the broad area of (credit) scoring and the predicting, understanding and explaining of consumer behaviour. This research started at the Univers1ty of Edinburgh on an ESRC funded project in 1988. This work, which is being submitted as the partial fulfilment of the requirements for the award of Doctor of Philosophy of Loughborough Unvers1ty, consists of an introductory chapter and a selection of papers published 1991 - 2001 (inclusive). The papers address some of the key issues and areas of interest and concern arising from the rapidly evolving and expanding credit (card) market and the highly competitive nature of the credit industry. These features were particularly evident during the late 1980's and throughout the 90's Chapter One provides a general background to the research and outlines some of the key (practical) issues involved in building a (credit) scorecard Additionally, it provides a brief summary of each of the research papers appearing in full in Chapters 2- 9 (inclusive) and ends with some general limitations and conclusions. The research papers appearing in Chapters 2-9 inclusive) are all concerned with predicting, understanding and explaining different types of consumer behaviour in relation to the use of credit cards. For example discriminating between 'GOOD' and 'BAD' repayers of credit card debt on the basis of different definitions of good and bad, the identification of 'slow payers' using different statistical methods; examining the characteristics of credit card users and non-users, and identifying the characteristics of credit card holders most likely to return their credit card.

This paper seeks to investigate the reaction of credit ratings and credit markets in response to accounting restatements. Accounting restatements can often be perceived as a precursor to fraudulent activity, which could lead to a more negative credit rating, or a heightened credit default swap (CDS) price. CDS prove to be a useful measuring tool as they adjust to changes relatively quickly; much more quickly than the assessment of a credit rating agency. My results suggest that restatements do indeed have an effect on credit rating. It does, however take longer for credit ratings to be updated after the restatement, but CDS quotes move faster and are just as, if not more accurate. I also find that credit default swaps do not anticipate restatements, showing that while the credit markets are beating the rating agencies, they do not appear to be beating the accountants.

The centrist theory of the lower middle class is widely used to explain the Social Credit movement in Alberta. The theory assumes that members of this class are ultimately conservative, if not reactionary, in both outlook and behaviour. However, the application of the theory to the Alberta movement is shown to be problematic for several reasons. Those offering this explanation do not back up their claims with evidence. Empirical analyses of the provincial elections of 1935 and 1940 present findings which are at odds with the conventional interpretation. A review of the Social Credit philosophy and the party's first term of office also reveals that the standard class analysis has some serious shortcomings. An alternative interpretation is provided.

This study adopts Markov-switching ARCH model proposed by Hamilton and Susmel (1994) to explore the behavior of credit spreads for different bond ratings. Specifically, this paper examines the properties of credit spreads and the co-movements of spreads among different durations and credit ratings. The consideration of the population makes the outcome more precise. The contribution of this study is to add to the investors a knowledge as to the credit spread behavior and help them understand the lower rating or longer maturity bonds by the observation of the investment-graded bonds while there are more risks and uncertainties conceal in these high yield bonds or D-rated bonds. The conclusion of this paper may help investors understand credit risk management and thus build appropriate portfolios.