# Proportional Hazard Model

From Open Risk Manual

## Definition

Credit Scorecards based on **Proportional Hazard Models** (also Cox Models)

This entry serves as the Abstract Risk Model specification of a Proportional Hazards Model

## Model Context

A population of borrowers characterised by individual features (characteristics, attributes) associated with each obligor and assumed to represent credit score factors, that is, indicators of propensity to default. The population is modelled statistically for the likelihood for defaulting (or not) over a defined period of time (the Risk Horizon).