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1、毕 业 设 计（论文）外 文 文 献 翻 译题 目： 金融银行信用风险管理与知识管理 教 学 院： 经济与管理学院 专业名称： 工商管理 学 号： 200940530228 学生姓名： 指导教师： 2013 年 05 月 28 日Managing Credit Risks with Knowledge Management forFinancial BanksPan JinDepartment of EconomicsEconomics and Management School of Wuhan UniversityWuhan,Hubei Province,430072,ChinaPanji
2、n20102010 Abstract-Nowadays,financial banks are operating in a knowledge society and there are more and more credit risks breaking out in banks.So,this paper first discusses the implications of knowledge and knowledge management, and then analyzes credit risks of financial banks with knowledge manag
3、ement. Finally, the paper studies ways for banks to manage credit risks with knowledge management. With the application of knowledge management in financial banks, customers will acquire better service and banks will acquire more rewards. Index Termsknowledge management; credit risk; risk management
4、; incentive mechanism; financial banks I.INTRODUCTIONNowadays,banks are operating in a“knowledge society”. So, what is knowledge? Davenport(1996)1thinks knowledge is professional intellect, such as know-what, know-how, know-why, and self-motivated creativity, or experience, concepts, values, beliefs
5、 and ways of working that can be shared and communicated. The awareness of the importance of knowledge results in the critical issue of “knowledge management”. So, what is knowledge management? According to Malhothra(2001)2, knowledge management(KM)caters to the critical issues of organizational ada
6、ptation, survival and competence in face of increasingly discontinuous environmental change. Essentially it embodies organizational processes that seek synergistic combination of data and information processing capacity of information technologies and the creative and innovative capacity of human be
7、ings. Through the processes of creating,sustaining, applying, sharing and renewing knowledge, we can enhance organizational performance and create value. Many dissertations have studied knowledge managementapplications in some special fields. Aybbe Aurum(2004)3 analyzes knowledge management in softw
8、are engineering and D.J.HarveyR.Holdsworth(2005)4study knowledge management in the aerospace industry. Li Yang(2007)5 studies knowledge management in information-based education and JayasundaraChaminda Chiran(2008)6 review the prevailing literature on knowledge management in banking industries. Lian
9、g ping and Wu Kebao(2010)7study the incentive mechanism of knowledge management inBanking.There are also many papers about risks analysis and risks management. Before the 1980s, the dominant mathematical theory of risks analysis was to describe a pair of random vectors.But,the simplification assumpt
10、ions and methods used by classical competing risks analysis caused controversy and criticism.Starting around the 1980s, an alternative formulation of risk analysis was developed,with the hope to better resolve the issues of failure dependency and distribution identifiability. The new formulation is
11、univariate risk analysis.According to Crowder(2001)8, DavidMoeschberger(1978)9and Hougaard(2000)10,univariate survival risk analysis has been dominantly, which is based on the i.i.d assumptions(independent and identically distributed) or, at least, based on the independent failure assumption.Distrib
12、ution-free regression modeling allows one to investigate the influences of multiple covariates on the failure, and it relaxes the assumption of identical failure distribution and to some extent, it also relaxes the single failure risk restriction. However, the independent failures as well as single
13、failure events are still assumed in the univariate survival analysis. Of course,these deficiencies do not invalidate univariate analysis, and indeed, in many applications, those assumptions are realistically valid.Based on the above mentioned studies, Ma and Krings(2008a, 2008b)11discuss the relatio
14、nship and difference of univariate and multivariate analysis in calculating risks.As for the papers on managing the risks in banks, Lawrence J.White(2008)12studies the risks of financial innovations and takes out some countermeasures to regulate financial innovations. Shao Baiquan(2010)13studies the
15、 ways to manage the risks in banks. From the above papers, we can see that few scholars have studied the way to manage credit risks with knowledge management. So this paper will discuss using knowledge management to manage credit risks for financial banks. This paper is organized as follows: Section
16、is introduction. Sectionanalyzes credit risks in banks with knowledge management. Sectionstudies ways for banks to manage credit risks with knowledge management. Sectionconcludes.II.ANALYZING CREDIT RISKS IN BANKS WITHKNOWLEDGE MANAGEMENTA.Implication of Credit RiskCredit risk is the risk of loss du
17、e to a debtors non-payment of a loan or other line of credit, which may be the principal or interest or both.Because there are many types of loans and counterparties-from individuals to sovereign governments-and many different types of obligations-from auto loans to derivatives transactions-credit r
18、isk may take many forms. Credit risk is common in our daily life and we can not cover it completely,for example,the American subprime lending crisis is caused by credit risk,which is that the poor lenders do not pay principal and interest back to the banks and the banks do not pay the investors who
19、buy the securities based on the loans.From the example,we can find that there are still credit risks,though banks have developed many financial innovations to manage risks.B.Sharing Knowledge Knowledge in banks includes tacit knowledge and explicit knowledge,which is scattered in different fields.Fo
20、r example, the information about the customersincome, asset and credit is controlled by different departments and different staffs and the information cant be communicated with others. So it is necessary for banks to set up a whole system to communicate and share the information and knowledge to man
21、age the risks.C.Setting up Incentive Mechanism and Encouraging Knowledge InnovationThe warning mechanism of credit risks depends on how banks staffs use the knowledge of customers and how the staffs use the knowledge creatively.The abilities of staffs to innovate depend on the incentive mechanism in
22、 banks,so, banks should take out incentive mechanism to urge staffs to learn more knowledge and work creatively to manage credit risks.We can show the incentive mechanism as Fig.1:Direct contributionMeasuring knowledge contributionof the staffsStimulativepunitive measuresIndirect contributionPunitiv
23、e measuresStimulative measuresl Yellow-card warningl Red-card warningl Dismissing or laying-offthe employeesll Wealthy rewardsl Trainingl Promotion Fig.1 The model of incentive mechanism with knowledge management From Fig.1,we can see there are both stimulative and punitive measures in the incentive
24、 model of knowledge management for financial banks.With the incentive mechanism of knowledge management in financial banks,the staffs will work harder to manage risks and to acquire both material returns and spiritual encouragement.III.MANAGING CREDIT RISKS IN BANKS WITH KNOWLEDGE MANAGEMENTThere ar
25、e four blocks in managing credit risks with knowledge management.We can show them in Fig.2:Distinguishing credit risksAssessing and calculating credit risksManaging credit risks and feedingbackReducing credit risksFig.2 The blocks of managing credit risksA.Distinguishing Credit Risk Distinguishing c
26、redit risks is the basis of risk management.If we cant recognize the risks,we are unable to find appropriate solutions to manage risks.For example,the United States subprime crisis in 2007 was partly caused by that the financial institutions and regulators didnt recognize the mortgage securitization
27、 risks timely.With knowledge management,we can make out some rules to distinguish credit risks,which are establishing one personal credit rating system for customers and setting up the data warehouse.We can use the system to analyze customerscredit index, customerscredit history and the possible cha
28、nges which may incur risks.At the same time,we should also watch on the changes of customersproperty and income to recognize potential risks.B.Assessing and Calculating Credit RiskAfter distinguishing the credit risks,we should assess the risk exposure,risk factors and potential losses and risks, an
29、d we should make out the clear links.The knowledgeable staffs in banking should use statistical methods and historical data to develop specific credit risks evaluation model and the regulators should establish credit assessment system and then set up one national credit assessment system.With the sy
30、stem and the model of risk assessment,the managers can evaluate the existing and emerging risk factors,such as they prepare credit ratings for internal use.Other firms,including Standard Poors,Moodys and Fitch,are in the business of developing credit rating for use by investors or other third partie
31、s.Tableshows the credit ratings of StandardPoors.TABLE ISTANDARDPOORS CREDITT RATINGSCredit ratingsImplicationsAAABest credit quality,extremely reliableAAVery good credit quality,very reliableAMore susceptible to economic conditionsBBBLowest rating in investment gradeBBCaution is necessaryBVulnerabl
32、e to changes in economicconditionsCCCCurrently vulnerable to nonpaymentCCHighly vulnerable to payment defaultCClose to bankruptDPayment default has actually occurred After assessing credit risks,we can use Standardized Approach and Internal Rating-Based Approach to calculate the risks.And in this ar
33、ticle,we will analyze how Internal Rating-Based Approach calculates credit risk of an uncovered loan.To calculate credit risk of an uncovered loan,firstly,we will acquire the borrowers Probability of Default(PD),Loss Given Default(LGD),Exposure at Default(EAD)and Remaining Maturity(M).Secondly,we ca
34、lculate the simple risk(SR)of the uncovered loan,using the formula as following:SR=MinBSR(PD)*1+b(PD)*(M-3)*LGD50,LGD*12.5 (1) Where BSR is the basic risk weight and b(PD)is the adjusting factor for remaining maturity(M).Finally,we can calculate the weighted risk(WR)of the uncovered loan,using the f
35、ollowing formula:WR=SR*EAD (2) From(1)and(2),we can acquire the simple and weighted credit risk of an uncovered loan,and then we can take some measures to hedge the credit risk.C.Reducing Credit Risk After assessing and calculating credit risks,banks should make out countermeasures to reduce the ris
36、ks.These measures include：(1)Completing security system of loans. The banks should require customers to use the collateral and guarantees as the security for the repayment,and at the same time,banks should foster collateral market.(2)Combining loans with insurance.Banks may require customers to buy
37、a specific insurance or insurance portfolio.If the borrower doesnt repay the loans,banks can get the compensation from the insurance company.(3)Loans Securitization. Banks can change the loans into security portfolio,according to the different interest rate and term of the loans,and then banks can s
38、ell the security portfolio to the special organizations or trust companies.D.Managing Credit Risk and Feeding back A customer may have housing loans,car loans and other loans,so the banks can acquire the customers credit information,credit history,credit status and economic background from assessing
39、 the risks of the customer based on the data the banks get.By assessing and calculating the risks of the customer,banks can expect the future behavior of the customers and provides different service for different customers. Banks can provide more value-added service to the customers who have high cr
40、edit rates and restrict some business to the customers who have low credit rates.At the same time, banks should refuse to provide service to the customers who are blacklisted. Banks should set up the pre-warning and management mechanism and change the traditional ways,which just rely on remedial aft
41、er the risks broke out.In order to set up the warning and feeding back mechanism,banks should score credit of the customers comprehensively and then test the effectiveness and suitability of the measures,which banks use to mitigate risks.Finally, banks should update the data of the customers timely
42、and keep the credit risk management system operating smoothly.IV.CONCLUSION In this paper,we first discuss the implications of knowledge and knowledge management.Then we analyze the credit risks of financial banks with knowledge management. Finally,we put forward ways for banks to manage credit risk
43、s with knowledge management.We think banks should set up data warehouse of customerscredit to assess and calculate the credit risks,and at the same time,banks should train knowledgeable staffs to construct a whole system to reduce risks and feed back.With knowledge management,banks can take out syst
44、emic measures to manage customerscredit risks and gain sustainable profits.ACKNOWLEDGMENT It is financed by the humanities and social sciences project of the Ministry of Education of China(NO.06JC790032).REFERENCES1Davenport,T.H.et al,“Improving knowledge work processes,”Sloan Management Review,MIT,
45、USA,1996,Vol.38,pp.53-65.2Malhothra,“Knowledge management for the new world of business,”New York BRINT Institute,2001,lkm/whatis.htm.3Aybbe Aurum,“Knowledge management in software engineering education,”Proceedings of the IEEE International Conference on Advanced Learning Technologies,2004,pp.370-3
46、74.4D.J.HarveyR.Holdsworth,“Knowledge management in the aerospace industry,”Proceedings of the IEEE International Professional Communication Conference,2005,pp.237-243.5Li Yang,“Thinking about knowledge management applications in information-based education,”IEEE International Conference on Advanced
47、 Learning Technologies,2007,pp.27-33.6JayasundaraChaminda Chiran,“Knowledge management in banking industries:uses and opportunities,” Journal of the University Librarians Association of Sri Lanka,2008,Vol.12,pp.68-84.7Liang Ping,Wu Kebao,“Knowledge management in banking,”The Conference on Engineerin
48、g and Business Management,2010, pp.4719-4722.8Crowder,M.J.Classical Competing Risks,British:Chapman&Hall, 2001,pp.200.9David,H.A.&M.L.Moeschberger,The Theory of Competing Risks, Scotland,Macmillan Publishing,1978,pp.103.待添加的隐藏文字内容3金融银行信用风险管理与知识管理 摘要：目前，金融银行经营在一个知识型社会中，而且越来越多的信用风险在在银行中爆发。所以本文首先讨论了知识和知识管理的影响，然后分析了金融银行的信用风险和知识管理。最后研究
