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Credit rating in dynamic response to the nature of firms and the business model of rating agencies: evidence from the Chinese bond market [PDF]
Heliyon, 2022 This paper takes the A-share listed companies that issued credit bonds from 2010 to 2021 as the sample to test the probability and degree of credit rating change throughout the enterprise life cycle using the ordered logit and breakpoint regression ...
Yan Huo, Bangming Gong
doaj +2 more sources
Elements of Credit Rating: A Hybrid Review and Future Research Agenda
Cogent Business and Management, 2021 Creditworthiness is acknowledged worldwide as focal point of debt processing. Credit Rate, an output of credit-rating process, reflects such creditworthiness. We reviewed literature on elements of credit rating, viz.
Prashant Ubarhande +2 more
exaly +2 more sources
Are Credit Ratings Valuable Information? [PDF]
Applied Financial Economics, 2007 Credit ratings are commonly used by lenders to assess the default risk, because every credit is connected with a possible loss. If the probability of a default is above a certain threshold, a credit will not be provided.
Czarnitzki, Dirk, Kraft, Kornelius
core +6 more sources
Sovereign Credit Rating Mismatches
Notas Económicas, 2018 We study the factors behind ratings mismatches in sovereign credit ratings from different agencies, for the period 1980‑‑2015. Using random effects ordered and simple probit approaches, we find that structural balances and the existence of a default in ...
António Afonso, André Albuquerque
doaj +5 more sources
Intellectual capital disclosure practices of financial institutions in an emerging economy [PDF]
PSU Research Review, 2021 Purpose – The purpose of this study is to investigate the intellectual capital disclosure (ICD) practices of financial institutions in an emerging economy of Bangladesh.
Syed Abdulla Al Mamun, Alima Aktar
doaj +1 more source
Determination of Sovereign Credit Rating Model for European Countries [PDF]
Financial Markets, Institutions and Risks, 2021 Credit rating agencies play a key role in financial markets, as they help to reduce asymmetric information among market participants via credit ratings. The credit ratings determined by the credit rating agencies reflect the opinion of whether a country ...
Isik Akin
doaj +1 more source
Credit Rating of Companies listed on the Tehran Stock Exchange and the Effect of Tax Avoidance Using PSO Algorithm [PDF]
Iranian Journal of Accounting, Auditing & Finance, 2021 Credit ratings reflect the relative ability of companies to meet their financial obligations, the relative default probability, and the recovery probability if the debt is not paid.
Hani Gharavi Ahangar +2 more
doaj +1 more source
Credit Ratings and Credit Risk [PDF]
SSRN Electronic Journal, 2012 This paper investigates the information in corporate credit ratings. We examine the extent to which firms' credit ratings measure raw probability of default as opposed to systematic risk of default, a firm's tendency to default in bad times. We find that credit ratings are dominated as predictors of corporate failure by a simple model based on publicly
Jens Hilscher, Mungo Wilson
openaire +1 more source
Do Mutual Funds’ Exposure to Financial Stress Predict Their Future Returns? Evidence From China
SAGE Open, 2021 How macroeconomic risk affects asset prices is an important issue in the academic and industrial fields. This paper measures Chinese financial stress (CFSI) by constructing a new index, and empirically verifies the pricing relationship between financial ...
Sha Zhu, Fujun Lai, Jie Deng, Qian Wang
doaj +1 more source
The Journal of Finance, 2009 ABSTRACTThe collapse of AAA‐rated structured finance products in 2007 to 2008 has brought renewed attention to conflicts of interest in credit rating agencies (CRAs). We model competition among CRAs with three sources of conflicts: (1) CRAs conflict of understating risk to attract business, (2) issuers' ability to purchase only the most favorable ...
Patrick Bolton +2 more
openaire +9 more sources