@article{article_418729, title={PERFORMANCE EVALUATION OF UNDERWRITING IN SHIP FINANCING}, journal={Marmara İktisat Dergisi}, volume={2}, pages={43–74}, year={2018}, author={Aslanoğlu, Erhan and Erkmen, Tansel}, keywords={Finance insurance,Risk-adjusted value of underwriting,Reserve effects,Underwriting effects,Credit rating,Default}, abstract={<p> <span style="font-size:12px;">The subject of this paper is the performance evaluation of the shipping finance underwriting. Insurance  </span> <span style="font-size:12px;">included in shipping finance is crucial for the financier to obtain as little credit as possible and we  </span> <span style="font-size:12px;">examine how the financing ship is sufficiently protected by the ship finance insurance. The complexity  </span> <span style="font-size:12px;">of ratios reports provides a perception of profitability in terms of percentages. This will be suitable  </span> <span style="font-size:12px;">for comparing companies and default ratios over time within the shipping business. The result of  </span> <span style="font-size:12px;">the model is formulated based on shipping companies in the world. We have analyzed the financial  </span> <span style="font-size:12px;">information based on the end result at companies’ fiscal year of all shipping firms since 2011 till at the  </span> <span style="font-size:12px;">end of 2016, according to their financial statements. Our approach provides confidence intervals for  </span> <span style="font-size:12px;">the default probability of each rating. The probability of default interval can be adjusted by choosing an  </span> <span style="font-size:12px;">appropriate level of confidence. </span> </p>}, number={1}, publisher={Marmara Üniversitesi}