A relationship between banks and firms that emphasizes the qualitative aspects of the enterprises may represent a response to the increasing difficulties of the credit system in financing a business system in which the intangible assets are the main source of value. In this view, an empirical...

Purpose – The purpose of this paper is to theoretically develop the idea that the intangible value of the collaboration between firms and the banking system can influence the probability of default (PD) on the part of firms and, therefore, their rating. The authors also propose that...