An analysis of the credit rating system of firms in Vietnam

This study builds a credit rating model of small, medium and large firms in Vietnam the period 2008-2018 using 39,162 firms drawn from the Orbis database. Besides, the credit rating models in this study includes ten classes of dependent variable which use three main methodologies such as Artificial Neural Networks, Multiple Discriminant Analysis and Ordered Logistics Regression. Finally, this research analyses the effect of the new accounting system on credit rating models. This thesis contributes significantly to not only the existing literature, but also Vietnamese commercial banks and Vietnamese financial markets in several ways.