As this is a systematic review conducted according to the guidelines by Tranfield et al.(), the review follows a transparent and thorough process aimed at enhancing scientific rigor and at developing a reliable stock of knowledge.This led to an impediment of a precise academic debate in the field, thereby; hindering discovery of possible solutions for CRM.
Hence, the effective assessment of credit risk is an essential component of a comprehensive technique to credit risk assessment and critical to the long-run of not only banking institutions but also the economy as a whole.
The bulk of investment-banking oriented body of literature on risk management usually defines risk in an objective way not differentiating according to the needs of different investors or stakeholders.
On the other hand, there are researchers who consider it to be ‘relative’ rather than an absolute concept (Balzer ). Firstly, due to such differences, there are inconsistencies in conceptualisations of CRA.
Hence, CRM is understood as a process that starts from regulatory level, second, from banks’ strategic levels, then continues to the operational levels.
By referring back to Horneff’s () statement as provided above, this indicates that every level comprises of decision making process, considering risk-return trade-offs and optimising stakeholders’ targets.