造纸企业绿色信贷项目信用风险评估的绿色KMV模型研究  

Research on the Green KMV Model of Credit Risk Assessment for Green Credit Projects of Papermaking Enterprises

作　　者：侯李薇 张智光[1] HOU Li-wei;ZHANG Zhi-guang(College of Economics and Management,Nanjing Forestry University,Nanjing 210037,Jiangsu Province,China)

机构地区：[1]南京林业大学经济管理学院,南京210037

出　　处：《中国林业经济》2022年第1期137-141,共5页China Forestry Economics

摘　　要：分析在造纸企业开展绿色信贷的可行性,然后以造纸企业的绿色信贷项目为研究对象,选取传统的信用风险度量模型——KMV模型,结合造纸企业生产过程中的特点构建绿色评价指标体系对模型中的资产价值进行改进,构建出绿色KMV模型。利用该模型对三家造纸企业的造纸项目面临的绿色信贷信用风险进行度量,针对度量的结果分析三家造纸企业的绿色信贷项目面临的信用风险情况。研究结果表明:商业银行从多角度对借贷企业或项目的绿色信贷信用风险进行评估,能够更准确地判断绿色信贷的信用风险状况,因此,商业银行在度量绿色信贷的信用风险时需要同时考虑企业或者项目的财务指标与非财务指标。This paper first analyzed the feasibility of developing green credit in papermaking enterprises,and then taking the green credit project of papermaking enterprises as the research object,it selected the traditional credit risk measurement model——KMV model,and constructed the green evaluation index system to improve the asset value in the model and construct the green KMV model.Finally,it used this model to measure the credit risk of green credit in three papermaking enterprises,and the credit risk of green credit projects in three papermaking enterprises is analyzed according to the results of measurement.From the point of view of commercial banks,this paper explored a new method to measure the credit risk of green credit in order to better promote green credit and played a positive role in environmental improvement and economic development.The results showed that commercial banks could more accurately judge the credit risk of green credit by evaluating the credit risk of green credit from many angles.Therefore,commercial banks should take into account the financial and non-financial indicators of enterprises or projects when measuring the credit risk of green credit.

关 键 词：绿色信贷 信用风险 造纸 

分 类 号：F832.2[经济管理—金融学]