EconPapers    
Economics at your fingertips  
 

CREDIT RISK OF ICELANDIC MUNICIPALITIES

Stefán B. Gunnlaugsson ()
Additional contact information
Stefán B. Gunnlaugsson: Faculty of Business Administration, University of Akureyri, Iceland

Oradea Journal of Business and Economics, 2017, vol. 2, issue 2, 7-15

Abstract: In this article the results of an extensive research on the credit risk of Icelandic municipalities are presented. The methodology named after Altman was applied and the credit risk of Icelandic municipalities was assessed according to his model. In addition the relationship between financial health and the size of municipalities was examined. Finally a small study was conducted where the financial health of municipalities around the capital area was different from other. The results are that this methodology is useful when evaluating the credit risk of Icelandic municipalities. The findings indicate that Icelandic municipalities have been able to continue functioning financially even though being very weak financially. Smaller municipalities were on average much financially stronger than the larger ones. But there was not a statistical significant difference in the financial strength of municipalities around the capital to other municipalities around the country.

Keywords: Iceland; municipalities; credit risk; Altman Z. (search for similar items in EconPapers)
JEL-codes: G01 G31 G33 G38 (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations Track citations by RSS feed

Downloads: (external link)
http://ojbe.steconomiceuoradea.ro/wp-content/uploads/2017/09/OJBE_22_7-15.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ora:jrojbe:v:2:y:2017:i:2:p:7-15

Access Statistics for this article

More articles in Oradea Journal of Business and Economics from University of Oradea, Faculty of Economics Contact information at EDIRC.
Series data maintained by Tomina SAVEANU ().

 
Page updated 2017-12-05
Handle: RePEc:ora:jrojbe:v:2:y:2017:i:2:p:7-15