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Sustainability Rating Agencies vs Credit Rating Agencies
Palgrave Studies in Impact Finance, 2021Daniel Cash
exaly +2 more sources
Rating the Raters: Evaluating how ESG Rating Agencies Integrate Sustainability Principles [PDF]
Environmental, social, and governance (ESG) rating agencies, acting as relevant financial market actors, should take a stand on working towards achieving a more sustainable development. In this context, the objective of this paper is, on the one hand, to
Elena Escrig-Olmedo +2 more
exaly +3 more sources
by issuers paying for ratings is misguided.
Harold L. Cole, Thomas F. Cooley
openaire +2 more sources
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
openaire +7 more sources
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
openaire +7 more sources
Crises and Rating Agencies [PDF]
We analyze a rating agency's incentives to distort ratings in a model with a monopolistic profit maximizing rating agency, a continuum of heterogeneous firms, and a competitive market of risk-neutral investors. Firms sell bonds, the value of a firm's bond is known to the firm and observable by the agency, but not by buyers.
Loerke, Petra, Niedermayer, Andreas
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2023
Abstract Rating agencies form part of the investment intermediation process as a type of market ‘gatekeeper’ that assesses credit risk through the credit rating process. This chapter examines the harmonized EU rules governing rating agencies, including the related administrative rules and the supporting supervisory and enforcement ...
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Abstract Rating agencies form part of the investment intermediation process as a type of market ‘gatekeeper’ that assesses credit risk through the credit rating process. This chapter examines the harmonized EU rules governing rating agencies, including the related administrative rules and the supporting supervisory and enforcement ...
openaire +1 more source
2010
Abstract Ratings seem increasingly central to the regulatory system of modern capitalism and therefore to governments everywhere. Getting credit ratings “right” therefore seems vitally important to many observers. But in pursuing improvement in the rating system one needs to appreciate the challenges and limits to rating.
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Abstract Ratings seem increasingly central to the regulatory system of modern capitalism and therefore to governments everywhere. Getting credit ratings “right” therefore seems vitally important to many observers. But in pursuing improvement in the rating system one needs to appreciate the challenges and limits to rating.
openaire +2 more sources
Rating the Rating Agencies [PDF]
In this study, we begin by assessing the ability of sovereign credit ratings to anticipate crises. In addition, given the wave of sovereign credit ratings downgrades that have followed the crises in Asia, we investigate formally the extent to which credit ratings are reactive.
Reinhart, Carmen +2 more
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