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1、中文3620字本科畢業(yè)論文（設(shè)計(jì)）外文翻譯外文出處UniversityRobertSchuman,StrasbourgIIIInstitutd’EtudesPolitiques外文作者BrigitteGodbillon原文：CreditRiskManagementinBanks:HardInformation,SoftInformationandManipulationIntroductionInformationremainsacrucialinputforthebankingindustry.Banksareconfrontedtoinformation’sasymmetryproble
2、msbecauseofborrowers’informationalopacity.Thisopacityvariesborrower’stype,SMEsbeingconsideredasthemostopaque(becauseoflackofpublicinformation).Inordertoresolvethisinformationalasymmetry,thebankcanacquiretwotypesofinformation:hardinformation,whichisexternal,viapublicinformation(balancesheetdata,rati
3、ng,scoring.),andsoftinformation,whichisinternal,viabank-borrowerrelationship(judgement,opinions,notes,reports...).Thisalsoimpliestwolendingtechnologies:transactionlendingversusrelationshipbanking.Arecentstreamofliteratureputsforwarddistinctionstobemadebetweenhardandsoftinformation(Petersen,2004)1.T
4、akingintoaccountsoftinformationinriskanalysiscanincreaseestimation’sprecisionofborrowers’quality(Lehmann,2003;Grunertetal.,2005),buthasthedisadvantageofbeingnonverifiableandthereforemanipulable.Thistypeofinformationcaninfluencecreditriskmanagementinbanks,butmayalsohaveanimpactonbanks’organizational
5、structure,whichshouldbeadaptedtosoftinformationinordertoavoidtheconsequencesandcostsofitsmanipulation.Recentresearchonrisksmanagementinbanksputsforwardtheimportanceofinformation’streatment.Hakenes(2004)considersthebankerasa“specialist”ofinformation’streatmentandrisk’smonitoring.Danielssonetal.(2002
6、)analyzebank’schoiceofrisksmanagementsystem,investigatingdifferentlevelsofpowerdelegationimplyingmoreorlesstransmissionofinformation.However,thisstreamofresearchdoesn’tdistinguishhardandsoftinformation.Therefore,thisarticleinvestigatestheimpactofinformation’stypeonthebalancesheetstructureandorganiz
7、ationintermsofcreditriskmanagementofthebank.Weproposeatheoreticalmodelofthecreditdecisionwithinaprincipal-agentframeworkwithabankdirector(oradirectorofthecreditriskdepartment)andacreditofficer(orabank’sagen
