A Corporate Credit Rating Model Using Support Vector Domain Combined with Fuzzy Clustering Algorithm

Table 2

Table of selected variables.

No.	Description	Definition
X1	Shareholders’ equity	A firm’s total assets minus its total liabilities
X2	Sales	Sales
X3	Total debt	Total debt
X4	Sales per employee	Sales/the number of employees
X5	Net income per share	Net income/the number of issued shares
X6^*	Years after foundation	Years after foundation
X7	Gross earning to total asset	Gross earning/total Asset
X8	Borrowings-dependency ratio	Interest cost/sales
X9	Financing cost to total cost	Financing cost/total cost
X10	Fixed ratio	Fixed assets/(total assets-debts)
X11^*	Inventory assets to current assets	Inventory assets/current assets
X12	Short-term borrowings to total borrowings	Short-term borrowings/total borrowings
X13	Cash flow to total assets	Cash flow/total assets
X14	Cash flow from operating activity	Cash flow from operating activity

∗Indicates variables excluded in China data set.