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.


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    Titel :

    Default risk drivers in shipping bank loans



    Erschienen in:

    Erscheinungsdatum :

    2016




    Medientyp :

    Aufsatz (Zeitschrift)


    Format :

    Print


    Sprache :

    Englisch



    Klassifikation :

    BKL:    85.00 / 55.82 Güterverkehr



    Default risk drivers in shipping bank loans

    Kavussanos, Manolis G. / Tsouknidis, Dimitris A. | Elsevier | 2016



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    Parker, M. / Lloyd's Shipping Economist | British Library Conference Proceedings | 1993