飲食行業信用風險管理（英文版）(ppt 35頁)

飲食行業信用風險管理（英文版）內容提要：
Value Proposition
Credit plays a critical role in “selling” products and services
Expands revenue opportunities with creditworthy, incremental customers
Utilizes innovative structures to support business relationships
Effective credit risk management limits credit losses and provides stable cash flows and earnings
Marketplace rewards companies exhibiting earnings and cash flow stability with higher P/E multiples
Marketplace penalizes credit induced volatility and “surprises”
Raises questions about quality of management
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Implications for Corporate Governance
Current organization structures to be revisited
Clarity around roles and responsibilities
Need for honesty, integrity and independence (self-regulation)
Technical expertise of people and strong management processes
Improved disclosure requirements
Importance and implementation of sanctions
Increased legislation and compliance requirements
……

Development Stages
Foundation Stage includes application of risk identification methodologies, risk scoring or rating systems and strong underwriting standards
Basic Stage tends to include managing on a transactional basis by evaluating specific attributes such as structuring, collateral and pricing
Advanced Stage represents managing on a portfolio basis including aspects such as concentrations, correlations and diversification
The Sophisticated Stage includes application of highly developed measurement techniques for transactions and portfolios, supported by decision-making relating to segments or businesses against established hurdle rates.

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