Almanya da Ortaboy İşletmeler İçin Derecelendirme Sorunu

Abstract

This study examines the rating problems in medium-size companies in Germany. The rating models employed by international rating agencies are in general not applicable for medium-size companies. Therefore, ratings made by international agencies using their conventional criteria would hardly give good results for small and medium size firms. The capital needs of medium-size companies encourage the development of services of new rating agencies in Germany which consider medium size companies as the targets of their services. The need for external capital is greater and there are stronger ties between management and capital ownership in medium size companies. On the other hand, rating becomes so crucial when they plan to go public.. Rating is useful not only for investors, creditors and customers but for management as well. Rating has not yet become a popular concept in Turkey. Those firms - mostly commercial banks- that want to be rated apply to international rating agencies for their services.