美国作业代写：Risk hint information and bank credit decision

下面为大家整理一篇优秀的paper代写范文- Risk hint information and bank credit decision，供大家参考学习，这篇论文讨论了风险提示信息与银行信贷决策。风险提示信息作为一种非财务信息，能够缓解信息不对称、提高公司透明度的价值，但同时具有可鉴证性弱、难以证实或者审计的特质。已有研究表明，提高风险披露水平可以降低信息不对称程度，有助于银行的信贷决策。

Based on the text information of the annual report of a-share listed company, the text mining technology is used to investigate the impact of non-financial information on the future development prospects of the enterprise on the bank credit decision-making. The more non-financial information disclosed in the annual report, the less the bank borrowings available to the listed companies, and the longer-term loan decisions of banks are more concerned with the impact of non-financial information such as risk cues than short-term borrowings. Non-financial information is an important factor affecting bank credit decision-making, and it is biased to rely on financial information to make loan judgments. Therefore, while complying with the rules of financial information disclosure, we should encourage enterprises to disclose the non-financial information with decision-supporting value voluntarily and transparently, and incorporate risk accounting into the information disclosure system.

Bank credit decision is largely influenced by both financial and non-financial factors, and in theory and practice, it is not difficult to make credit assessment decisions, as long as the enterprises provide real financial reports and the banks grade according to standard tools, which fully demonstrates the value of financial information decision-making. The research shows that improving the level of financial information disclosure can reduce and prevent the risk of capital assessment caused by asymmetric information in the process of bank credit review, and credit personnel can use financial information to support loan decision-making, and improve credit decision-making efficiency and property rights protection. Bushman and other thinking that financial information can predict the probability of enterprise default and failure, has an incremental pricing effect on enterprise default risk, is the debt contract signing and performance of the important foundation. Sun et Lu Zhengfei and so on found that the loan enterprise fully transparent financial information and credit contracts have an important link between, financial information shows a strong intrinsic value in alleviating information asymmetry, reducing moral hazard and adverse selection, and improving the efficiency of debt market, which helps to improve credit decision-making efficiency, which echoes the debt contract value theory of ball and other financial information to a great extent. Further research shows that the contract value of financial information depends on the function of internal control and independent audit. From the view of internal control, the most important and basic determinant of high quality financial information is still the perfect internal control and its authentication system, and the internal control and its attestation system determine the quality of financial information to a great extent. From the perspective of independent audit, the value of the signal transmission of independent audit verification mechanism reduces the asymmetry of information between banks and enterprises, especially the issue of non-standard audit opinions, and it affects the bank's credit decision-making behavior.

However, with the shortage of credit resources and the strengthening of the configuration supervision, especially the deficiency of financial information generation and its disclosure, financial information is difficult to meet the demand of bank credit decision-making, and the non-financial information is paid more and more attention by people. On the one hand, the relevance of financial information is disappearing. Although the discussion of Kaplan's "Relativity disappearing" is mainly aimed at the field of management accounting, the existence of a series of problems, such as "distortion and even falsification", caused by the prevalence of financial accounting earnings management, has greatly influenced the relevance and usefulness of financial accounting information to credit decision-making. Ahdel-khalik thinks, "the more detailed the information, the more useful the loan decision-making" this situation only under certain conditions, in the absence of forward-looking information and environmental information support, financial information prediction ability appears to be inadequate. Casey, through a questionnaire survey of 132 bank credit personnel, found that a loan officer with a large amount of information had no more accurate forecast than a loan officers with a small amount of information, and the financial information "overloaded" and "missing" coexist. On the other hand, the standard-setting bodies and the capital market supervisors attach great importance to the full disclosure of non-financial information. From the overall trend, the company's future development prospects and business risks and other aspects of the disclosure of non-financial information are AICPA, the non-financial information played a more and more important role in the capital market by the encouragement and support of Chinese and foreign institutions such as FASB, CICA and CSRC, but so far few scholars have focused on the relationship between non-financial information and corporate credit efficiency. At the same time, due to advances in technology, continuous innovation in business models and growing reliance on large numbers of enterprises, globalization and geopolitical uncertainties have made supply chains increasingly fragile, making it increasingly possible for corporate board members, CEOs and other senior executives to focus on the risks that could lead to significant losses. The global financial crisis of 2007-2008 has proved that the crisis will have a serious impact on the capital of enterprises, and may even make corporate capital vanish. Therefore, the stakeholders need to obtain any information about the enterprise can withstand the risk, or from the perspective of the creation of shareholder value, the enterprise stakeholders also need to obtain other than the existing accounting standards of risk information resources. Non-financial factors can not only explain the background of financial indicators, the trend of the future, and some non-financial factors of early warning signal prior to the financial factors of early warning signal, in the loan monitoring to play a more important role, non-financial factors and financial factors mutually confirm, complement each other, for the loan decision to provide sufficient and necessary basis.

Based on the text information of the enterprise risk revealed by the annual report of the listed companies, using the text mining technology, the paper empirically studies whether non-financial information based on risk hint will have different influence on bank credit efficiency. Compared with financial information, the Non-financial information based on risk disclosure is the way to influence bank credit decision-making. Is there a significant difference in the channels of financial information affecting credit decision-making? Thus the important link between the risk information and the bank credit decision is investigated. The possible contributions of this paper are: to expand the research literature on the influencing factors of credit decision-making. In this paper, the research on the impact of financial information on credit decision-making efficiency extends to the non-financial information level with risk hint as the core, this paper first investigates whether non-financial information can affect the efficiency of credit decision making and the intrinsic path of this effect, and makes an incremental contribution to the research of the relationship between Non-financial information and credit decision-making, and provides evidence for the cooperation between banks and enterprises. It provides a theoretical basis for the establishment of risk accounting. Enterprise stakeholders need system information support in the aspects of risk existence, occurrence, control, influence and precaution, and the provision of non-financial information such as risk hint is the core content of risk accounting. It will help the management authorities to make scientific and reasonable risk management policies, improve the efficiency of risk management, and also help to increase the transparency of enterprise risk-taking, reduce and mitigate the "asymmetric information" between different stakeholders and the derivative moral hazard and adverse selection problems. It helps to improve the information disclosure system of listed companies, optimize the allocation of information resources and improve the value of information decision support. Financial information and non-financial information are complementary to each other and have the effect of information superposition. The conclusion of this paper is helpful to improve the current audit and internal control authentication, enhance the information value of the company, help the Government to improve the supervision of the information disclosure quality of listed companies, and make the corresponding risk information disclosure criteria; standardizing and strengthening the disclosure content of non-financial information of listed companies and promoting the transformation from voluntary to mandatory, on the one hand, producing more non-financial information, establishing effective information management and communication platform, on the other hand further improving the certainty of non-financial information and strengthening the information security of enterprises. At the same time, it is helpful for the comprehensive consideration of bank credit decision information, it is necessary to consider the credit decision from the angle of financial information, to analyze the non-financial information, to provide better decision support for the credit financing of the enterprise, and to perfect and optimize the financial market environment.

As a kind of non-financial information, risk information can alleviate the information asymmetry and enhance the company's transparency, but it has the characteristics of weak identification, difficult to confirm or audit. Studies have shown that increasing the level of risk disclosure can reduce the degree of asymmetric information and help bank credit decision-making. Risk information, for example, helps to reduce analysts ' predictive biases, enabling financial institutions such as banks to better anticipate the company's future performance and its credit risk. Although scholars at home and abroad have studied evidence that some listed companies are self-interested and have serious opportunism and selective disclosure in information disclosure, some listed companies even deliberately disclose some not sufficient basis and credibility, hope to rely on stakeholders ' "popularity" to help their success of the "induced" information, but in terms of risk information, it is different from the general voluntary disclosure information, it is more important value of risk warning.

From the perspective of the function of the stakeholders, we should enhance the immunity, strain and competitiveness of the stakeholders, and promote the achievement of the risk control goal of the stakeholders ' governance, and realize the maximization of social welfare. Risk information is the enterprise according to Political economy, social policy, science and technology development, financial market situation, competitor, product supply and demand relations and so on with the management and development of significant or potentially significant impact of external environmental information, at the same time, the enterprise's own various types of financial and production and operating conditions of internal changes in the future risk of the enterprise scientific prediction and warning. For enterprises, the establishment of risk-prompting mechanism as if the enterprise installed a crisis radar, can timely early warning enterprise risk and crisis situation and the formation of factors, reminding management to pay attention to, and efforts to resolve the crisis in the bud state, to achieve sustainable development of enterprises; For investors, it can make the right investment choice according to the dynamic analysis of the risk information, and deal with the existing investment or change the investment portfolio in time after discovering the risk or the crisis bud For financial institutions such as banks, risk information, scientific analysis and dynamic early warning can be used to influence the risk factors of loan safety. Help to make loan decision and carry out loan control to prevent bad debts to the maximum; for auditors and legal personnel, it is possible to make a more accurate career judgment on the operation and prospects of listed companies, and avoid incurring legal proceedings because they do not pay attention to risk information.

From the characteristics of risk hint information, compared with the accurate, true and timeliness of financial information, the risk information disclosed in the annual report is a useful supplement to the quantitative financial index, which has unique signal value and can give credit bank more information resources. Norden and Weber believe that because financial information is essentially backward-looking, there are often earnings management factors. In contrast, risk cues are stable and forward-looking, and therefore can increase the predictive power of borrowers. According to article 25th of the guidance on the credit of commercial banks, the commercial banks should attach great importance to the non-financial factors of customers, and identify and analyze the risks of the management and quality of the clients. For bank credit decisions, as the "external person" of the listed company, the bank has an asymmetric information and "adverse selection" and "moral hazard", which affects the credit market transaction behavior and even the inefficient operation of the market, with the intervention of the local government, the bank's credit risk control is often in a dilemma. Enterprise risk hint, as the precursor information of the enterprise's future operation risk, after analyzing the key factors that may endanger the enterprise credit security, issuing the risk warning, reminding the bank to prepare or take the countermeasure to reduce the credit loss. First, the risk information can control the business risk. When the customer appears the risk, the risk hint information system closely tracks the progress of the risk, quickly find the cause of business risk, so that the bank targeted, the right remedy to prevent further deterioration of the credit situation.

Secondly, the risk hint information can provide a governance countermeasure. When business risk occurs, the risk hint and early warning can provide an effective and easy to operate the basic countermeasures and methods to deal with the business risk, and play an important role in assisting the bank decision-making. Finally, the risk warning information can avoid similar business risks happening again. Through the risk hint early warning system detailed records the occurrence reason, the processing, the solution, as well as the feedback and the improvement suggestion to the existing risk management and the management existence flaw proposes the improvement proposal, may enhance the enterprise management risk immunity ability. Li's research on the U.S. market confirms the value of credit decision-making of risk information and the promotion of debt market efficiency, the negative correlation between risk information and future credit policy, and can be used to predict future credit security and the expectation of recovery of principal and interest. Therefore, the disclosure of risk information in the annual report can be a sign of the company's development prospects and the healthy development of the credit market.

On the other hand, from the point of view of transaction cost economics, because the financial data submitted by the borrowers are influenced by the limited rationality and the self profit behavior, there are inherent defects in the timeliness and credibility of the information, which can easily lead to the mistakes of the bank in the decision of loan management, and the commercial banks need to spend a lot of For example, the higher the degree of earnings management, the greater the uncertainty of future earnings, the worse the bank's accuracy in predicting the time, amount and distribution of future cash flows, that is, the earnings management behavior of enterprises will bring information risk to the bank. Then, the financial information represented by the annual audit opinion and internal control forensics is still so obvious to the credit decision-making under the prevailing environment of enterprise earnings management behavior? There have been studies on this conclusion. The Firth study found that the "Maximum loan amount" received by the company is significantly larger than that of the two types of retention opinions, which indicates that the audit opinion has certain selectivity and path dependence on the information content of credit decision-making. Hu Yiming and Zhou studies have found that the relationship between audit opinion and bank credit decision-making is ambiguous and inconsistent. Yang Deming and Feng studied whether banks were able to identify the quality of the internal controls of listed companies, and the impact on the duration, amount and cost of the loan, and found that the banks could only to a certain extent identify the internal control quality of state-owned listed companies and could not do anything to private enterprises.

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