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Association between automated brain volumetry and visual classification of hippocampal atrophy in MRI. [PDF]
Neuroimage RepGarrafiel FN +10 more
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International Journal of Theoretical and Applied Finance, 2008 In this paper, we show that an individual optimal credit rating exists for firms and empirically test whether firms strive to achieve their optimal rating. For this purpose, we consider the structural model by Leland [12], which balances the benefits of debt in the form of the tax-deductibility of interest payments against bankruptcy costs in order to
SEBASTIAN HERZOG +2 more
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The Credit Rating Industry [PDF]
The Journal of Fixed Income, 1995 Investors and regulators have been increasing their reliance on the opinions of the credit rating agencies. This article shows that although the ratings provide accurate rank-orderings of default risk, the meaning of specific letter grades varies over time and across agencies.
Richard Cantor, Frank Packer
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Are Credit Ratings Procyclical?
SSRN Electronic Journal, 2003Abstract This paper studies the influence of the state of the business cycle on credit ratings. In particular, we assess whether rating agencies are excessively procyclical in their assignment of ratings. Our analysis is based on a model of ratings determination that takes into account factors that measure the business and financial risks of firms ...
C. H. Furfine, Jeffery D. Amato
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SSRN Electronic Journal, 2011
This contribution to the Working Paper Series of the Dutch central bank critically reviews the academic debate on the position and power of Credit Rating Agencies (CRAs) and, in the light thereof, analyses the European regulatory approach to CRAs, thereby combining insights from economics and law.
Jakob De Haan, Fabian Amtenbrink
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This contribution to the Working Paper Series of the Dutch central bank critically reviews the academic debate on the position and power of Credit Rating Agencies (CRAs) and, in the light thereof, analyses the European regulatory approach to CRAs, thereby combining insights from economics and law.
Jakob De Haan, Fabian Amtenbrink
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Credit Ratings and Credit Rating Agencies
SSRN Electronic Journal, 2011The present chapter discusses the characteristics of credit rating agencies and their credit ratings. In describing the role they both play on the global financial markets, it focuses in particular on the increasing importance that legal regulation has gained in the context of credit ratings, both due to the increase in regulation through credit ...
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2010
Bond rating and the establishment of formal CRAs began in 1909 when John Moody began rating US railroad bonds, soon expanding to utility and industrial bonds. Poor’s Publishing Company followed in 1916 and Fitch Publishing Company in 1924. The business was characterised by the investor-pays model, where investors bought reports from the CRAs containing
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Bond rating and the establishment of formal CRAs began in 1909 when John Moody began rating US railroad bonds, soon expanding to utility and industrial bonds. Poor’s Publishing Company followed in 1916 and Fitch Publishing Company in 1924. The business was characterised by the investor-pays model, where investors bought reports from the CRAs containing
openaire +2 more sources
Valuation of credit contingent interest rate swap with credit rating migration
International Journal of Computer Mathematics, 2020In this paper, a flexible pricing model for Credit Contingent Interest Rate Swap (CCIRS) with credit rating migration is proposed, which is sensitive to stochastic interest rates and counterparty d...
Jin Liang, Hongchun Zou
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