INDUSTRY CLASSIFICATION, ORDINAL DATA, AND BOND‐RATING DECISION MODELS
研究了在债券评级决策模型中，对按行业分类的有序数据使用多重判别分析来预测公司债券评级，结果支持该方法的适用性。
ABSTRACT This paper studies the use of multiple discriminant analysis on industry‐classified, ranktransformed data to predict corporate bond ratings used in bond‐rating decision models. In addition to statistical advantages, agency descriptions of the rating process suggest such procedures are appropriate. The results of this study support that conclusion.