The calculation of probabilities of default can be improved by incorporating additional variables that can be predicted and which are associated with changes in the debtors' financial situation and the economic situation. The inclusion of these variables is possible through the use of survival analysis. In the present paper, an application of the Cox proportional hazards model is performed to identify some explanatory variables of the risk of default of new corporate credit debtors and large companies. The characteristics of the debtor (economic sector, indebtedness, profitability, size of the company); credit (initial loan, percentage in foreign currency, percentage of guarantees); together with entity grouping and business confidence index were identified as risk factors for non-compliance in the payment of corporate and large companies loans.

The purpose of this paper is to estimate the energy savings and greenhouse gas emission reductions from energy rating and disclosure policies in New York City. During the first six year of the policy, the City saw a cumulative energy savings of 10.8% and cumulative GHG reductions of 8.5%. However, these gross changes cannot necessarily be attributed to the benchmarking and transparency policies. In order to estimate the “counterfactual” scenario – what would have happened if the policy was not implemented, we use a combination of Difference-in-Difference Estimation and Propensity Score Matching. Based on this model, we conclude that the disclosure of Energy Star Scores to the public did not have a significant effect on energy savings and GHG emissions reductions for multifamily buildings.

El cálculo de probabilidades de incumplimiento puede mejorarse si se incorporan variables adicionales que pueden predecirse y que están asociadas a los cambios en la situación financiera de los deudores y en la situación económica. La inclusión de estas variables es posible mediante el uso del análisis de supervivencia. En el presente documento, se realiza una aplicación del modelo de riesgos proporcionales de Cox para identificar algunas variables explicativas del riesgo de incumplimiento de los nuevos deudores de créditos corporativos y a grandes empresas. Las características del deudor (sector económico, endeudamiento, rentabilidad, tamaño de la empresa), del crédito (saldo inicial, porcentaje en moneda extranjera, porcentaje de garantías), la agrupación de la entidad y el índice de confianza empresarial fueron identificados como factores de riesgo significativos para ...

The purpose of this paper is to estimate the energy savings and greenhouse gas emission reductions from energy rating and disclosure policies in New York City. During the first six year of the policy, the City saw a cumulative energy savings of 10.8% and cumulative GHG reductions of 8.5%. However, these gross changes cannot necessarily be attributed to the benchmarking and transparency policies. In order to estimate the “counterfactual” scenario – what would have happened if the policy was not implemented, we use a combination of Difference-in-Difference Estimation and Propensity Score Matching. Based on this model, we conclude that the disclosure of Energy Star Scores to the public did not have a significant effect on energy savings and GHG emissions reductions for multifamily buildings.