|
Welcome
Welcome to the Credit Management Research Centre. The CMRC was established at Leeds University Business School in 1998, with funding from the Institute of Credit Management, commercial sponsors from the credit industry and government departments. CMRC has enjoyed ten years of continual support from the credit profession and government. The unique focus of CMRC is to engage in a research program that combines academic rigour with practitioner and policy relevance.
CMRC’s mandate, to create and disseminate knowledge, goes hand in hand with building strong relationships with the credit industry and policy makers. Given our location in the fastest growing credit and financial services centre in the UK, it stands to reason that we consider industry partnerships as a critical factor in our commitment to dynamic and relevant research, innovative teaching, and exceptional post graduate courses.
"Recent worldwide events have demonstrated that Credit Management Research could not be more topical nor important than it is today. This leading edge team will continue to make key advances that will inform industry and have a global impact"
Professor Michael Arthur, Vice-Chancellor, University of Leeds
News
Conference Presentations
Nick Wilson and Ali Altanlar presented a paper at the London Business School Conference "Private Equity at the Crossroads" on June 5th. The paper, "Private Equity, Buy-outs, Leverage and Failure" represents a collaboration between CMRC and CMBOR (Nottingham) and is co-authored with Professor Mike Wright. Paper available from the authors.
New Research on Governance, Ownership and Insolvency Risk
A Research paper shortly to be released by CMRC shows that having a balance of skills and gender on the Board of companies significantly reduces insolvency risk. The research analyses data on over 900,000 companies including 17,500 insolvencies in 2008. Abstract Director Characteristics
CMRC Insolvency Forecasts for 2009 and beyond
At the end of 2007 the CMRC corporate insolvency forecasting model predicted a 20% increase in insolvencies for 2008. We now have the actual data (2007 - 24,157 insolvencies; 2008- 29,126 insolvencies) and the actual increase is 20.5 %. Our forecasts for 2009 (in total and by sector) are now available. Forecasts
New Forecasts will be available in July 2009 'Risk and Insolvency Report Q2'
Industry sector and regional insolvency forecasts produced by CMRC in collaboration with CreditScorer.com have been reported in The Financial Times, The Daily Telegraph and Radio 4’s Today Program.
Credit 100 Professor Wilson was included in the Credit Today Magazine 'Credit 100'. A list of the 100 people that have had "the greatest impact on the credit industry" (Credit Today, December 2008)
FInance and Risk Professor Wilson presented a keynote address on corporate risk and the financial crisis at the '10th International Science Conference on Finance and Risk' in Bratislava. The conference was hosted by the University of Economics, Bratislava and attracted delegates from Slovakia, Czech Republic, Romania, Poland and the Ukraine.
Managing Tax Debt The National Audit Office have published a report on HMRC Management of Tax Debt. Professor Wilson played an important role in the compilation of this report. NAO Study
Research
CMRC is currently analysing the relationship between corporate debt levels and insolvency. In particular we are tracking the performance of private equity backed companies and a large sample of MBO's during the period 1995-2008.
The working paper on modeling Small Company Risk is now available: Ed Altman, G Sabato and N Wilson (2008) (see Publications)
