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The DCiF Model and Credit Evaluation on Korean Construction Companies  

Park Tong-Kyu (한양대학교 경영대학원)
Publication Information
Korean Journal of Construction Engineering and Management / v.5, no.4, 2004 , pp. 97-106 More about this Journal
Abstract
Credit evaluation by domestic financial institutions on Korean construction companies has had many problems with its tools and criteria ignoring the industrial characteristics. This study develops the DCiF(discounted cash inflow) model as a solution and discusses its usage in construction financing. It also examines the significance of the DCiF indices through regressions and statistical comparison with the other credit evaluation estimates. The results show its clear significance and consistent fitness. Based on the empirical results, implications and methodology are provided for the effective use of the indices in credit evaluation on the construction companies.
Keywords
The DCiF model; The DCiF indices; Credit evaluation on the construction companies; Construction financing;
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