Clues from networks: quantifying relational risk for credit risk evaluation of SMEs

Financial Innovation

Table 32 Coefficients of features in the logistic regression model

	Estimate	Std. error	z-value	Pr( >\|z\|)
(Intercept)	− 4.220	1.250	− 3.376	0.001***
Current ratio (%)	− 0.084	0.384	− 0.218	0.828
Debt to assets ratio (%)	0.016	0.321	0.049	0.961
Receivable turnover ratio (days)	− 0.097	0.054	− 1.782	0.075
Inventory turnover ratio (days)	− 0.035	0.043	− 0.804	0.421
Assets turnover ratio (days)	− 0.548	0.185	− 2.966	0.003**
Quick ratio (%)	− 0.373	0.338	− 1.102	0.270
OPR (%)	− 1.415	0.735	− 1.926	0.054
ROE (%)	3.983	4.653	0.856	0.392
ROA (%)	− 9.398	5.985	− 1.57	0.116
Log (registered capital)	0.374	0.123	3.037	0.002**
District 3402	− 0.009	0.696	− 0.013	0.990
District 3403	− 1.760	0.740	− 2.377	0.017*
District 3404	− 0.492	0.702	− 0.7	0.484
District 3405	− 0.805	0.789	− 1.021	0.307
District 3406	− 0.664	0.774	− 0.857	0.391
District 3408	− 0.105	0.754	− 0.139	0.889
District 3409	− 0.256	0.752	− 0.34	0.734
District 3410	− 1.311	0.868	− 1.509	0.131
District 3411	− 0.891	0.781	− 1.14	0.254
District 3412	− 0.794	0.722	− 1.099	0.272
District 3413	− 1.094	0.740	− 1.478	0.139
District 3414	− 1.599	0.849	− 1.883	0.060
District 3415	− 0.967	0.788	− 1.228	0.219
District 3416	− 1.953	0.874	− 2.233	0.026*
District 3417	− 1.636	0.869	− 1.882	0.060
Age	0.015	0.021	0.718	0.473
Risk events of firms themselves	0.653	0.252	2.591	0.010**
Relational risk	6.430	2.152	2.987	0.003**

***refers to the significance at the 0.001 level; **refers to the significance at the 0.005 level; *refers to the significance at the 0.05 level;^. refers to the significance at the 0.01 level