Modelling the Survival of Financial and Industrial Enterprises: Advantages, Challenges and Problems with the Internal-Ratings Base (IRB)

Front Matter....Pages i-xvi
Front Matter....Pages 1-1
Science and the Solution of Real-life Business Problems....Pages 3-23
Is the Work of Financial Analysts Worth the Cost and the Effort?....Pages 24-44
The Contribution of Modelling and Experimentation in Modern Business....Pages 45-64
Front Matter....Pages 65-65
Practical Applications: the Assessment of Creditworthiness....Pages 67-90
Debts and the Use of Models in Evaluating Credit Risk....Pages 91-112
Models for Actuarial Science and the Cost of Money....Pages 113-134
Front Matter....Pages 135-135
Scenario Analysis and the Delphi Method....Pages 137-156
Financial Forecasting and Economic Predictions....Pages 157-178
Reliable Financial Reporting and Market Discipline....Pages 179-200
Front Matter....Pages 201-201
The Model’s Contribution: Examples with Value at Risk and the Monte Carlo Method....Pages 203-223
Is Value at Risk an Alternative to Setting Limits?....Pages 224-244
Front Matter....Pages 245-246
Errors in Prognostication....Pages 247-267
Model Risk is Part of Operational Risk....Pages 268-287
Back Matter....Pages 288-297