Luppi, Barbara; Marzo, Massimiliano; Scorcu, Antonello - In: Applied Financial Economics Letters 4 (2008) 3, pp. 199-203
We estimate a model of credit risk for portfolios of small and medium-sized enterprises, conditional on being a nonprofit (NP) or for-profit (FP) firms. The estimation is based on a unique data set on Italian firms provided by a large commercial bank. We show that the main variables to identify...