Integrating industrial and financial analysis into a rating methodology for corporate riskuddetection: the case of the Vicenza manufacturingudfirms.

摘要

Banks weakness derived from rating models that produce cyclical effectsudon credit availability and are not able to anticipate anti-cyclical firms’ trends. Theudaim of the paper is to develop a framework for an original rating methodologyudderived from integration of industrial and financial analysis able to identify bestudperformers in crisis scenarios (anti-cyclically). Industrial analysis is based on firmudheterogeneity approaches to measure three dimensions of analysis: innovation, internationalizationudand growth. Financial analysis focuses on operational return andudrisks measures and develops an integrated classification of firms using standardizedudXBRL financial data. Further integration of the two methodologies is used to createudthe effective set of information needed for rating system.