No abstract

No abstract

Purpose-This paper aims to survey the credit scoring literature in the past 41 years (1976-2017) and presents a research agenda that addresses the challenges and opportunities Big Data bring to credit scoring. Design/methodology/approach-Content analysis methodology is used to analyze 258 peer-reviewed academic papers from 147 journals from two comprehensive academic research databases to identify their research themes and detect trends and changes in the credit scoring literature according to content characteristics. Findings-The authors find that credit scoring is going through a quantitative transformation, where datacentric underwriting approaches, usage of non-traditional data sources in credit scoring and their regulatory aspects are the up-coming avenues for further research. Practical implications-The paper's findings highlight the perils and benefits of using Big Data in credit scoring algorithms for corporates, governments and non-profit actors who develop and use new technologies in credit scoring. Originality/value-This paper presents greater insight on how Big Data challenges traditional credit scoring models and addresses the need to develop new credit models that identify new and secure data sources and convert them to useful insights that are in compliance with regulations.

This is the accepted version of the paper.This version of the publication may differ from the final published version. Permanent repository link AbstractThis paper explores the importance of supply of capital for corporate financing. To identify this relation, we examine the impact of two exogenous events, entry to the EU and the adoption of Euro, which caused shifts in equity and credit markets during European integration.Following membership to EU, which eased access to equity capital, firms increase equity financing. Firms increase debt financing after the adoption of Euro, which improved access to international debt capital. We control for globalisation, ongoing developments in equity and credit channels, firm characteristics, and the moderating effects of the country of origin.Keywords: European Integration, Capital Structure, Debt Maturity, FDI, European Firms JEL Classification: G15, G32, F362 European Integration and Corporate FinancingJuly 2013 AbstractThis paper explores the importance of supply of capital for corporate financing. To identify this relation, we examine the impact of two exogenous events, entry to the EU and the adoption of Euro, which caused shifts in equity and credit markets during European integration.Following membership to EU, which eased access to equity capital, firms increase equity financing. Firms increase debt financing after the adoption of Euro, which improved access to international debt capital. We control for globalisation, ongoing developments in equity and credit channels, firm characteristics, and the moderating effects of the country of origin.

No abstract