External Ratings for SMEs in the Context of Basel II: basics, experiences, perspectives ; an empirical research on the German Mittelstand
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Buch |
| Sprache: | English |
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Saarbrücken
VDM-Verl. Müller
2007
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| Online-Zugang: | Inhaltstext Inhaltsverzeichnis |
| Beschreibung: | 140 S. |
| ISBN: | 9783865509956 3865509959 |
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| 245 | 1 | 0 | |a External Ratings for SMEs in the Context of Basel II |b basics, experiences, perspectives ; an empirical research on the German Mittelstand |c Kirsten Bruckmann |
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Datensatz im Suchindex
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III. TABLE OF CONTENTS
I. ABSTRACT.2
II. ACKNOWLEDGEMENT.3
III. TABLE OF CONTENTS.4
IV. LIST OF ABBREVIATIONS.7
V. LIST OF FIGURES.8
VI. LIST OF TABLES.10
VII. LIST OF APPENDIX-FIGURES.11
VIII. LIST OF APPENDIX-TABLES.13
1 Introduction.14
1.1 Focus of the project.15
1.2 Research questions.15
1.3 Research structure.16
2 Literature Review.16
2.1 Features and situation of German SMEs.16
2.2 Changes on the financial and capital markets.18
2.3 Changes in the banking industry.18
2.4 Basel II.19
2.4.1 Consequences for SMEs due to Basel II.22
2.5 External ratings for SMEs in Germany.25
2.5.1 Development and German rating agencies.25
2.5.2 Rating spreading.27
2.5.3 Rating process.27
2.5.4 Rating criteria.28
2.5.5 Potential functions and weaknesses of external ratings for SMEs.29
2.5.6 Usefulness of external ratings for SMEs.32
3 Research Methodology.33
3.1 Research objective.33
3.2 Research approach and purpose.33
3.3 Research strategy.34
3.4 Sample.34
3.5 Negotiation of access._.35
3.6 Research design_36
3.6.1 Questionnaires.36
3.6.2 Interviews.37
3.7 The credibility of the research finding.38
4 Evaluation of the findings.39
4.1 Background data.39
4.1.1 Typology of the sample.39
4.1.2 Current business situation and fund raising.41
4.2 Implementation.44
4.2.1 Initial rating and implementation process.44
4.2.2 Rating agencies.49
4.2.3 Costs for ratees.51
4.3 Usefulness.53
4.3.1 Rating functions.53
4.3.2 Use of rating vis-a-vis stakeholder.56
4.3.3 Usefulness for ameliorating structural and financial problems.59
4.4 Second-stage analysis: Usefulness vis-a-vis banks.62
4.4.1 Second-stage questionnaire.63
4.4.2 Interviews with bank clerks (responsible for corporate banking).65
4.5 Limitations of the primary research and recommendations for future
research.67
5 How useful for SMEs are external ratings?.68
5.1 Internal usefulness.68
5.1.1 Optimisation of the controlling and finance departments.69
5.1.2 Optimisation of risk management.69
5.1.3 Information provision for management.70
5.2 External usefulness.71
5.2.1 Easing of fund raising.71
5.2.2 Usefulness vis-a-vis banks.71
5.2.3 Improved stakeholder relations and image.72
5.3 Influencing factors and required activities.74
5.3.1 Rating result.74
5.3.2 Companies' handling and degree of use.7*
5.3.3 Management and corporate culture.75
5.3.4 Rating agency.75
5.3.5 Rating standards and regulation.76
5.3.6 Rating spreading.76
5.3.7 Business environment and rating culture.76
5.3.8 Handling and acceptance by banks.76
6 Conclusion.78
IX. APPENDICES.79
Appendix 1: Definition of SMEs.79
Appendix 2: Basic information on rating.80
Appendix 3: Background data on the Basel Capital Accords.81
Appendix 4: Calculation examples for Basel II.85
Appendix 5: Basel II: Relevant changes for SMEs.86
Appendix 6: First questionnaire (01/2005): German version.88
Appendix 7: First questionnaire (01/2005): English version.95
Appendix 8: Results of the first questionnaire.103
Appendix 9: Second-stage questionnaire (02/2005): German version.119
Appendix 10: Second-stage questionnaire (02/2005): English version.120
Appendix 11: Results of the second-stage questionnaire.121
Appendix 12: Outline and themes of the interviews.122
Appendix 13: Extracts of the interviews.123
X. BIBLIOGRAPHY.130
XI. AFFIDAVIT.141
XII. CURRICULUM VITAE.142
8
V. LIST OF FIGURES
Figure 1: Development of business insolvencies in Germany.17
Figure 2: Comparison of the return on equity of credit institutions in 2001.19
Figure 3: The three pillars of Basel II.20
Figure 4: Pillar one of Basel II.21
Figure 5: Standardised and IRB Approach.22
Figure 6: Trend towards risk-oriented credit spread.23
Figure 7: Elements of credit costs.25
Figure 8: Typical rating process.28
Figure 9: Rating criteria.29
Figure 10: Assumed areas of usefulness.30
Figure 11: Potential rating usefulness and addressees.31
Figure 12: Interview themes.38
Figure 13: Rating spreading of the sample.40
Figure 14: Equity ratios of the sample.41
Figure 15: Development of raising funds.42
Figure 16: Currently used alternative sources of finance.42
Figure 17: Expected effects of Basel II.43
Figure 18: Source of information.45
Figure 19: Motives for implementing a rating.45
Figure 20: Duration of preparative measures and whole rating process.46
Figure 21: Internal burden on operating schedule.47
Figure 22: Influenced divisions.47
Figure 23: Optimised divisions.48
Figure 24: Influencing factors for the value of the rating.50
Figure 25: Rating fees.51
Figure 26: Internal efforts.52
Figure 27: Generally assumed functions of external ratings.53
Figure 28: Comparison of assumed and actual functions.54
Figure 29: Actual functions of external ratings.55
Figure 30: Active use vis-a-vis stakeholder.57
Figure 31: Connection between usefulness and intended use.57
Figure 32: Usefulness for ameliorating structural problems.59
Figure 33: Usefulness for ameliorating financial problems.60
Figure 34: Usefulness for financial problems in dependence on the rating.61
Figure 35: Cost-value ratio.61
Figure 36: Quotations of participants about the usefulness vis-a-vis banks.62
Figure 37: Handling of external rating by banks.63
Figure 38: Usefulness vis-a-vis banks.64
Figure 39: Degree of satisfaction with the way of handling by banks.64
Figure 40: Key arguments from interviews with bank clerks.66
Figure 41: Quotations of participants about the internal usefulness.70
Figure 42: Quotations of participants about the external usefulness.73
Figure 43: Quotations of participants about the limited external usefulness.73
Figure 44: Influencing factors for the usefulness of external ratings.74
Figure 45: Recommended activities for companies.77
10
VI. LIST OF TABLES
Table 1: Overview of survey results.24
Table 2: German rating agencies.26
Table 3: Structure of questionnaires and analysis.37
Table 4: Characteristics of the sample.40
Table 5: Time spreading of ratings.41
Table 6: Up- and downgradings.41
Table 7: Evaluation of rating agencies.49
Table 8: Reasons for use vis-a-vis stakeholder.58
11
VII. LIST OF APPENDIX-FIGURES
Appendix-Figure 1: Key elements for calculating the IRB approach.84
Appendix-Figure 2: Current business situation.103
Appendix-Figure 3: Development of raising debt capital in general.103
Appendix-Figure 4: Development of credit conditions at house bank.103
Appendix-Figure 5: Future importance of bank loans.104
Appendix-Figure 6: Currently used alternative sources of finance.104
Appendix-Figure 7: Use of alternative sources of finance in future.104
Appendix-Figure 8: Planned alternative sources of finance in future.105
Appendix-Figure 9: Expectations of changes due to Basel II.105
Appendix-Figure 10: Expected effects of Basel II.105
Appendix-Figure 11: Rating spreading in years.106
Appendix-Figure 12: Rating spreading in ratings.106
Appendix-Figure 13: Source of information.107
Appendix-Figure 14: Motives for implementing a rating.107
Appendix-Figure 15: The use of a rating advisor.108
Appendix-Figure 16: Cost-value ratio of the rating advisor.108
Appendix-Figure 17: Duration of preparative measures.108
Appendix-Figure 18: Duration of whole rating process.109
Appendix-Figure 19: Number of employees involved.109
Appendix-Figure 20: Internal burden on operating schedule.109
Appendix-Figure 21: Influenced divisions.110
Appendix-Figure 22: Optimised divisions.110
Appendix-Figure 23: Comparison of burden for initial and following rating.110
Appendix-Figure 24: Influencing factors for the value of the rating.111
Appendix-Figure 25: Rating fees.111
Appendix-Figure 26: Internal efforts.112
Appendix-Figure 27: Generally assumed functions of external ratings.112
Appendix-Figure 28: Actual functions of external ratings.112
Appendix-Figure 29: Major usefulness of external ratings.113
Appendix-Figure 30: Active use vis-a-vis stakeholders.113
Appendix-Figure 31: Reasons for the use vis-a-vis different stakeholders.114
Appendix-Figure 32: Effects within the company.115
Appendix-Figure 33: Effects outside of the company.116
Appendix-Figure 34: Usefulness for ameliorating structural problems.116
Appendix-Figure 35: Usefulness for ameliorating financial problems.117
Appendix-Figure 36: Cost-value ratio of external ratings.117
12
Appendix-Figure 37: Individual field reports.118
Appendix-Figure 38: Interest for external ratings by banks.121
Appendix-Figure 39: Influence of external ratings in negotiations.121
Appendix-Figure 40: Achieved improvements of the bank relation.121
Appendix-Figure 41: Achieved improvements of credit conditions.122
Appendix-Figure 42: Degree of satisfaction with the handling by banks.122
Appendix-Figure 43: Interview structure.122
Appendix-Figure 44: Interview themes.123
13
VIII. LIST OF APPENDIX-TABLES
Appendix-Table 1: Classification Scheme for SMEs used by IfM Bonn.79
Appendix-Table 2: Classification Scheme for SMEs according to the EU .80
Appendix-Table 3: Rating symbols of Moody's and S P's.81
Appendix-Table 4: Calculation example Basel 1.85
Appendix-Table 5: Calculation example Basel II (1).86
Appendix-Table 6: Calculation example Basel II (2).86
Appendix-Table 7: Time spreading of ratings.106
Appendix-Table 8: Up- and downgradings.107 |
| adam_txt |
III. TABLE OF CONTENTS
I. ABSTRACT.2
II. ACKNOWLEDGEMENT.3
III. TABLE OF CONTENTS.4
IV. LIST OF ABBREVIATIONS.7
V. LIST OF FIGURES.8
VI. LIST OF TABLES.10
VII. LIST OF APPENDIX-FIGURES.11
VIII. LIST OF APPENDIX-TABLES.13
1 Introduction.14
1.1 Focus of the project.15
1.2 Research questions.15
1.3 Research structure.16
2 Literature Review.16
2.1 Features and situation of German SMEs.16
2.2 Changes on the financial and capital markets.18
2.3 Changes in the banking industry.18
2.4 Basel II.19
2.4.1 Consequences for SMEs due to Basel II.22
2.5 External ratings for SMEs in Germany.25
2.5.1 Development and German rating agencies.25
2.5.2 Rating spreading.27
2.5.3 Rating process.27
2.5.4 Rating criteria.28
2.5.5 Potential functions and weaknesses of external ratings for SMEs.29
2.5.6 Usefulness of external ratings for SMEs.32
3 Research Methodology.33
3.1 Research objective.33
3.2 Research approach and purpose.33
3.3 Research strategy.34
3.4 Sample.34
3.5 Negotiation of access._.35
3.6 Research design_36
3.6.1 Questionnaires.36
3.6.2 Interviews.37
3.7 The credibility of the research finding.38
4 Evaluation of the findings.39
4.1 Background data.39
4.1.1 Typology of the sample.39
4.1.2 Current business situation and fund raising.41
4.2 Implementation.44
4.2.1 Initial rating and implementation process.44
4.2.2 Rating agencies.49
4.2.3 Costs for ratees.51
4.3 Usefulness.53
4.3.1 Rating functions.53
4.3.2 Use of rating vis-a-vis stakeholder.56
4.3.3 Usefulness for ameliorating structural and financial problems.59
4.4 Second-stage analysis: Usefulness vis-a-vis banks.62
4.4.1 Second-stage questionnaire.63
4.4.2 Interviews with bank clerks (responsible for corporate banking).65
4.5 Limitations of the primary research and recommendations for future
research.67
5 How useful for SMEs are external ratings?.68
5.1 Internal usefulness.68
5.1.1 Optimisation of the controlling and finance departments.69
5.1.2 Optimisation of risk management.69
5.1.3 Information provision for management.70
5.2 External usefulness.71
5.2.1 Easing of fund raising.71
5.2.2 Usefulness vis-a-vis banks.71
5.2.3 Improved stakeholder relations and image.72
5.3 Influencing factors and required activities.74
5.3.1 Rating result.74
5.3.2 Companies' handling and degree of use.7*
5.3.3 Management and corporate culture.75
5.3.4 Rating agency.75
5.3.5 Rating standards and regulation.76
5.3.6 Rating spreading.76
5.3.7 Business environment and rating culture.76
5.3.8 Handling and acceptance by banks.76
6 Conclusion.78
IX. APPENDICES.79
Appendix 1: Definition of SMEs.79
Appendix 2: Basic information on rating.80
Appendix 3: Background data on the Basel Capital Accords.81
Appendix 4: Calculation examples for Basel II.85
Appendix 5: Basel II: Relevant changes for SMEs.86
Appendix 6: First questionnaire (01/2005): German version.88
Appendix 7: First questionnaire (01/2005): English version.95
Appendix 8: Results of the first questionnaire.103
Appendix 9: Second-stage questionnaire (02/2005): German version.119
Appendix 10: Second-stage questionnaire (02/2005): English version.120
Appendix 11: Results of the second-stage questionnaire.121
Appendix 12: Outline and themes of the interviews.122
Appendix 13: Extracts of the interviews.123
X. BIBLIOGRAPHY.130
XI. AFFIDAVIT.141
XII. CURRICULUM VITAE.142
8
V. LIST OF FIGURES
Figure 1: Development of business insolvencies in Germany.17
Figure 2: Comparison of the return on equity of credit institutions in 2001.19
Figure 3: The three pillars of Basel II.20
Figure 4: Pillar one of Basel II.21
Figure 5: Standardised and IRB Approach.22
Figure 6: Trend towards risk-oriented credit spread.23
Figure 7: Elements of credit costs.25
Figure 8: Typical rating process.28
Figure 9: Rating criteria.29
Figure 10: Assumed areas of usefulness.30
Figure 11: Potential rating usefulness and addressees.31
Figure 12: Interview themes.38
Figure 13: Rating spreading of the sample.40
Figure 14: Equity ratios of the sample.41
Figure 15: Development of raising funds.42
Figure 16: Currently used alternative sources of finance.42
Figure 17: Expected effects of Basel II.43
Figure 18: Source of information.45
Figure 19: Motives for implementing a rating.45
Figure 20: Duration of preparative measures and whole rating process.46
Figure 21: Internal burden on operating schedule.47
Figure 22: Influenced divisions.47
Figure 23: Optimised divisions.48
Figure 24: Influencing factors for the value of the rating.50
Figure 25: Rating fees.51
Figure 26: Internal efforts.52
Figure 27: Generally assumed functions of external ratings.53
Figure 28: Comparison of assumed and actual functions.54
Figure 29: Actual functions of external ratings.55
Figure 30: Active use vis-a-vis stakeholder.57
Figure 31: Connection between usefulness and intended use.57
Figure 32: Usefulness for ameliorating structural problems.59
Figure 33: Usefulness for ameliorating financial problems.60
Figure 34: Usefulness for financial problems in dependence on the rating.61
Figure 35: Cost-value ratio.61
Figure 36: Quotations of participants about the usefulness vis-a-vis banks.62
Figure 37: Handling of external rating by banks.63
Figure 38: Usefulness vis-a-vis banks.64
Figure 39: Degree of satisfaction with the way of handling by banks.64
Figure 40: Key arguments from interviews with bank clerks.66
Figure 41: Quotations of participants about the internal usefulness.70
Figure 42: Quotations of participants about the external usefulness.73
Figure 43: Quotations of participants about the limited external usefulness.73
Figure 44: Influencing factors for the usefulness of external ratings.74
Figure 45: Recommended activities for companies.77
10
VI. LIST OF TABLES
Table 1: Overview of survey results.24
Table 2: German rating agencies.26
Table 3: Structure of questionnaires and analysis.37
Table 4: Characteristics of the sample.40
Table 5: Time spreading of ratings.41
Table 6: Up- and downgradings.41
Table 7: Evaluation of rating agencies.49
Table 8: Reasons for use vis-a-vis stakeholder.58
11
VII. LIST OF APPENDIX-FIGURES
Appendix-Figure 1: Key elements for calculating the IRB approach.84
Appendix-Figure 2: Current business situation.103
Appendix-Figure 3: Development of raising debt capital in general.103
Appendix-Figure 4: Development of credit conditions at house bank.103
Appendix-Figure 5: Future importance of bank loans.104
Appendix-Figure 6: Currently used alternative sources of finance.104
Appendix-Figure 7: Use of alternative sources of finance in future.104
Appendix-Figure 8: Planned alternative sources of finance in future.105
Appendix-Figure 9: Expectations of changes due to Basel II.105
Appendix-Figure 10: Expected effects of Basel II.105
Appendix-Figure 11: Rating spreading in years.106
Appendix-Figure 12: Rating spreading in ratings.106
Appendix-Figure 13: Source of information.107
Appendix-Figure 14: Motives for implementing a rating.107
Appendix-Figure 15: The use of a rating advisor.108
Appendix-Figure 16: Cost-value ratio of the rating advisor.108
Appendix-Figure 17: Duration of preparative measures.108
Appendix-Figure 18: Duration of whole rating process.109
Appendix-Figure 19: Number of employees involved.109
Appendix-Figure 20: Internal burden on operating schedule.109
Appendix-Figure 21: Influenced divisions.110
Appendix-Figure 22: Optimised divisions.110
Appendix-Figure 23: Comparison of burden for initial and following rating.110
Appendix-Figure 24: Influencing factors for the value of the rating.111
Appendix-Figure 25: Rating fees.111
Appendix-Figure 26: Internal efforts.112
Appendix-Figure 27: Generally assumed functions of external ratings.112
Appendix-Figure 28: Actual functions of external ratings.112
Appendix-Figure 29: Major usefulness of external ratings.113
Appendix-Figure 30: Active use vis-a-vis stakeholders.113
Appendix-Figure 31: Reasons for the use vis-a-vis different stakeholders.114
Appendix-Figure 32: Effects within the company.115
Appendix-Figure 33: Effects outside of the company.116
Appendix-Figure 34: Usefulness for ameliorating structural problems.116
Appendix-Figure 35: Usefulness for ameliorating financial problems.117
Appendix-Figure 36: Cost-value ratio of external ratings.117
12
Appendix-Figure 37: Individual field reports.118
Appendix-Figure 38: Interest for external ratings by banks.121
Appendix-Figure 39: Influence of external ratings in negotiations.121
Appendix-Figure 40: Achieved improvements of the bank relation.121
Appendix-Figure 41: Achieved improvements of credit conditions.122
Appendix-Figure 42: Degree of satisfaction with the handling by banks.122
Appendix-Figure 43: Interview structure.122
Appendix-Figure 44: Interview themes.123
13
VIII. LIST OF APPENDIX-TABLES
Appendix-Table 1: Classification Scheme for SMEs used by IfM Bonn.79
Appendix-Table 2: Classification Scheme for SMEs according to the EU .80
Appendix-Table 3: Rating symbols of Moody's and S P's.81
Appendix-Table 4: Calculation example Basel 1.85
Appendix-Table 5: Calculation example Basel II (1).86
Appendix-Table 6: Calculation example Basel II (2).86
Appendix-Table 7: Time spreading of ratings.106
Appendix-Table 8: Up- and downgradings.107 |
| any_adam_object | 1 |
| any_adam_object_boolean | 1 |
| author | Bruckmann, Kirsten |
| author_facet | Bruckmann, Kirsten |
| author_role | aut |
| author_sort | Bruckmann, Kirsten |
| author_variant | k b kb |
| building | Verbundindex |
| bvnumber | BV022428939 |
| ctrlnum | (DE-599)DNB983774382 |
| dewey-full | 338.6420681 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 338 - Production |
| dewey-raw | 338.6420681 |
| dewey-search | 338.6420681 |
| dewey-sort | 3338.6420681 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| discipline_str_mv | Wirtschaftswissenschaften |
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| geographic | Deutschland (DE-588)4011882-4 gnd |
| geographic_facet | Deutschland |
| id | DE-604.BV022428939 |
| illustrated | Not Illustrated |
| index_date | 2024-07-02T17:28:28Z |
| indexdate | 2024-07-20T09:16:39Z |
| institution | BVB |
| isbn | 9783865509956 3865509959 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-015637157 |
| open_access_boolean | |
| owner | DE-M382 |
| owner_facet | DE-M382 |
| physical | 140 S. |
| publishDate | 2007 |
| publishDateSearch | 2007 |
| publishDateSort | 2007 |
| publisher | VDM-Verl. Müller |
| record_format | marc |
| spelling | Bruckmann, Kirsten Verfasser aut External Ratings for SMEs in the Context of Basel II basics, experiences, perspectives ; an empirical research on the German Mittelstand Kirsten Bruckmann Saarbrücken VDM-Verl. Müller 2007 140 S. txt rdacontent n rdamedia nc rdacarrier Basel Committee on Banking Supervision Basler Eigenkapitalvereinbarung (DE-588)4679731-2 gnd rswk-swf Klein- und Mittelbetrieb (DE-588)4031031-0 gnd rswk-swf Rating (DE-588)4255219-9 gnd rswk-swf Deutschland (DE-588)4011882-4 gnd rswk-swf Deutschland (DE-588)4011882-4 g Klein- und Mittelbetrieb (DE-588)4031031-0 s Basel Committee on Banking Supervision Basler Eigenkapitalvereinbarung (DE-588)4679731-2 u Rating (DE-588)4255219-9 s DE-604 text/html http://deposit.dnb.de/cgi-bin/dokserv?id=2940224&prov=M&dok_var=1&dok_ext=htm Inhaltstext HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=015637157&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Bruckmann, Kirsten External Ratings for SMEs in the Context of Basel II basics, experiences, perspectives ; an empirical research on the German Mittelstand Basel Committee on Banking Supervision Basler Eigenkapitalvereinbarung (DE-588)4679731-2 gnd Klein- und Mittelbetrieb (DE-588)4031031-0 gnd Rating (DE-588)4255219-9 gnd |
| subject_GND | (DE-588)4679731-2 (DE-588)4031031-0 (DE-588)4255219-9 (DE-588)4011882-4 |
| title | External Ratings for SMEs in the Context of Basel II basics, experiences, perspectives ; an empirical research on the German Mittelstand |
| title_auth | External Ratings for SMEs in the Context of Basel II basics, experiences, perspectives ; an empirical research on the German Mittelstand |
| title_exact_search | External Ratings for SMEs in the Context of Basel II basics, experiences, perspectives ; an empirical research on the German Mittelstand |
| title_exact_search_txtP | External Ratings for SMEs in the Context of Basel II basics, experiences, perspectives ; an empirical research on the German Mittelstand |
| title_full | External Ratings for SMEs in the Context of Basel II basics, experiences, perspectives ; an empirical research on the German Mittelstand Kirsten Bruckmann |
| title_fullStr | External Ratings for SMEs in the Context of Basel II basics, experiences, perspectives ; an empirical research on the German Mittelstand Kirsten Bruckmann |
| title_full_unstemmed | External Ratings for SMEs in the Context of Basel II basics, experiences, perspectives ; an empirical research on the German Mittelstand Kirsten Bruckmann |
| title_short | External Ratings for SMEs in the Context of Basel II |
| title_sort | external ratings for smes in the context of basel ii basics experiences perspectives an empirical research on the german mittelstand |
| title_sub | basics, experiences, perspectives ; an empirical research on the German Mittelstand |
| topic | Basel Committee on Banking Supervision Basler Eigenkapitalvereinbarung (DE-588)4679731-2 gnd Klein- und Mittelbetrieb (DE-588)4031031-0 gnd Rating (DE-588)4255219-9 gnd |
| topic_facet | Basel Committee on Banking Supervision Basler Eigenkapitalvereinbarung Klein- und Mittelbetrieb Rating Deutschland |
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| work_keys_str_mv | AT bruckmannkirsten externalratingsforsmesinthecontextofbaseliibasicsexperiencesperspectivesanempiricalresearchonthegermanmittelstand |