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1、Enl~etpqatenc¢I'Epeuvet/OperationalResearch.AnInternationalJoumal.Vol.4,No,1(2004),pp.29-44AnempiricalstudyforcreditcardapprovalsintheGreekbankingsectorMariaMavriandGeorgeIoannou{mania,ioannou@aueb.gr}ManagementSciencesLaboratoryDepartmentofManagementScience&TechnologyAthensUniversityof
2、Economics&BusinessEvelpidon47A&Lefkados33,113-62Athens,GreeceAbstractAdvancementsintechnologyarechangingthetraditionalwayoffinancialtransactions.Thecashorientedsocietyistransformedintoa"plasticmoney"society.Duringthelastfewyears,creditcardusagehasexpandedrapidlyworldwide.Customersusethe
3、ircardsforanumberofreasonssuchaspayingregularbills,emergencies,spontaneousspendingetc.Thecreditcardsindustryisinthegrowthstageofitsproductlifecycleanditisaprofitablebusinessforbanks.Inthispaper,basedonadatasamplefromalargeGreekbank,weidentifyfactorsthatareimportantforabank'smanagementin
4、ordertoapproveorrejectanapplicationforacreditcard,whileatthesametimeattemptingtoretaintheinstitution'sclientele.Wemodelmultivariatecategoricaldatausingthelogisticregressionmodel.Tomotivateourchoicemodelweassumethattheapprovalofanapplicationdependsonanumberofexplanatoryvariables,andourpr
5、incipleobjectiveistounderstandthepotentialfactorsthatcontributeinthefinaldecisionandtoidentifytheimportantcovariatesinpredictingthebinaryoutputs.Keywords:CreditCards,LogisticRegressionModel1.IntroductionTheneweconomyintheinformationsocietycreatesanewbusinessenvironment.Whatisdifferentis
6、thatmoreandmorebusinessgetstransactedinacomputer-mediatedenvironment.Transactions,billpayments,purchasing,reservations(hotels,travelorcinematickets)aredoneelectronically.ACreditCardisanelectronicpaymentsystemthatisusedmorethantwodecades.Sincethebeginningofthe80sthecreditcardindustryhase
7、xpandedworldwidebothintermsofnewcardaccountsandofcreditcardusage.AggregateoutstandingcreditcardreceivablesatUScommercialbanksrosefromjustover$1billionin1967tomorethan$200billionduringthelatterhalfofthe1990s(FDIC,2000)exhibitinganannualgrowthratethataveragedover19%from1970to1980
