Figures & data
Table 1. The number of the rated companies in TSE
Table 2. The major indicators through which CRAs assess companies
Table 3. Correspondence that rating and credit category (exposure for corporations)
Table 4. Number of defaulting companies
Table 5. The fundamentals of the statistics
Table 6. Results of the panel binary logit analysis
Table 7. Results of default prediction by ratings of Models (1) and (2) during the sampled period
Table 8. Comparison of our ratings and historical record of ratings by CRAs one fiscal year before companies defaulted. Our rating employs 10 categories, while ratings by CRAs are classified into 5 categories
Table 9. AUC of ROC on our ratings and scores in sampled period
Table 10. Results of default prediction by ratings of Models (1) and (2) outside the sampled period
Table 11. AUC of ROC for our ratings and scores outside the sampled period