Results 241 to 250 of about 60,078 (296)
Crises and Rating Agencies [PDF]
, 2015 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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SSRN Electronic Journal, 2013 by issuers paying for ratings is misguided.
Harold L. Cole, Thomas F. Cooley
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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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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.
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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 ...
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Rating the Rating Agencies [PDF]
, 2000 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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Credit Ratings and Rating Agencies
2020Credit rating agencies have developed as an information intermediary in the credit market because there are very large numbers of bonds outstanding with many different features. The Securities Industry and Financial Markets Association reports over $20 trillion of corporate bonds, mortgaged-backed securities, and asset-backed securities in the United ...
Miles Livingston, Lei Zhou
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Rating the credit rating agencies
Applied Economics, 2016ABSTRACTWe offer herein several policy tools that can assist the new Office of Credit Ratings within the Securities and Exchange Commission in assessing the quality of past credit ratings and thus measuring the inclusive competency of credit rating agencies.
Dror Parnes, Sagi Akron
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Is There a 'Boom Bias' in Agency Ratings?
SSRN Electronic Journal, 2013Abstract Theory predicts rating agencies’ incentive conflicts to be stronger in boom periods, leading to biased ratings and a reduced level of rating quality. We investigate this prediction empirically based on three different approaches.
Dilly, Mark, Mählmann, Thomas
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2017
Rating agencies have been under the spotlight since the beginning of the century. Financial disasters and the subprime crisis of 2008 brought about the birth of such preoccupations as many investors and regulators became sceptical about their activities.
Raimbourg, Philippe, Salvadè, Federica
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Rating agencies have been under the spotlight since the beginning of the century. Financial disasters and the subprime crisis of 2008 brought about the birth of such preoccupations as many investors and regulators became sceptical about their activities.
Raimbourg, Philippe, Salvadè, Federica
openaire +3 more sources