本文探討影響台灣中小企業信用評等模型的因子。回顧2010年全球經濟概況，似乎已從金融風暴的陰霾中復甦。國際景氣好轉和亞洲新興國家維持擴張，企業及消費已逐漸好轉，2010年隨著我國商品出口之需求逐季升溫，實質GDP成長率可望回復至金融風暴前的水準。在前景看好之下，支撐我國經濟主體的中小企業與銀行間的交易會更為頻繁。也由於各國開始重視風險的控管，這也顯示一個良好的信用評等模型的重要性。
本研究樣本為2006年至2009年上市之公開發行之化學業、電機機械業、半導體業公司共208間公司。並探討兩個重要因子：門檻與產業別，對於TCRI信用評等模型下的迴歸式有何影響。
由本研究分析結果得知，在TCRI模型下，設立門檻會明顯的降低各項財務比率對於評等等級的解釋能力，但對於等級轉移的穩定性有幫助；若依照產業別去計算最終信用評等等級，則各項財務比率對於平等等級的解釋能力皆不如原本TEJ之TCRI模型。且不同的產業間各項財務比率對於評等等級的解釋能力有所差別，其中以樣本數最少的化學工業其財務變數的解釋能力最差。

This paper examines the factors which affect the regression results of Taiwan Credit Risk Index (TCRI) model. Reviewed 2010 overview of the global economy, it seems get rid of the haze from financial crisis and liquidity crunch. Economic recovered in countries. Under this prospects, the transactions between small and medium corporations and banks will be more frequently. Banks need put attention on credit risk from their lending to small and medium corporations.
In this study, we collect 208 firms from TEJ database including three different industries which are chemical industry, electrical machinery industry and semiconductor industry from 2006 to 2009. We use four difference processes to examine the threshold effect and industry effect.
The results from this study indicate that, When we remove the threshold limit, the regression model of credit risk ranks has great difference and fit better than original model. But the transition matrix results are worst than original model.；When we calculate firm’s basic score sort out different industries, both transition matrix results and regression results are worst than original TCRI model.

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