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Sovereign Rating, Macroeconomic Indicators and Firm Performance: Evidence from Latin America
Research on humanities and social sciences, 2021 The research is financed by Minas Gerais State Research Support Foundation Abstract The purpose of this paper is to investigate the relationship between sovereign rating, financial leverage, macroeconomic indicators and the performance of non-financial ...
Duterval Jesuka +2 more
semanticscholar +1 more source
Are sovereign ratings by CRAs consistent? [PDF]
Panoeconomicus, 2015 This study is an attempt to compare and contrast the credit ratings granted by prominent agencies, the so-called Big Three namely S&P, Moody?s and Fitch, that dominate the market. The sovereign ratings are proven to motivate the CDS figures of countries empirically, and low ratings are known to increase the interest paid to liabilities ...
Saka Hami, Orhan Mehmet
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BAR: Brazilian Administration Review, 2023 This study analyzed the effects of sovereign rating and corporate governance (CG) on the capital structure of Latin American companies. A multilevel regression model was used for 823 companies listed on major Latin American stock exchanges over the ...
Duterval Jesuka +1 more
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The Home Bias in Sovereign Ratings [PDF]
Journal of the European Economic Association, 2013 Using data on 143 sovereigns provided by nine agencies based in six countries, we estimate the determinants of sovereign ratings to test whether agencies assign higher ratings to their respective home countries, as well as to economically, geopolitically, and culturally aligned countries.
Fuchs, Andreas, Gehring, Kai
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Sovereign rating methodologies, ESG and climate change risk: an overview
, 2021 We review the sovereign credit rating methodologies of three credit rating agencies (Moody’s, S&P and Fitch) and analyze how they currently accommodate climate change risk and ESG considerations.
Denitsa Angelova +3 more
semanticscholar +1 more source
Subjectivity in Sovereign Credit Ratings [PDF]
SSRN Electronic Journal, 2017 Abstract A sovereign creditrating is a function of hard and soft information that should reflect the creditworthiness and the probability of default of a country. We propose an alternative characterisation for the subjective component of a sovereign credit rating – the parts related to the ratee’s lobbying effort or its familiarity from a United ...
De Moor, Lieven +3 more
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Indonesian Capital Market Review, 2013 Getting sovereign credit rating upgrades and achieving investment grade status are main goals for countries in order to gain lower yield spread and cost of borrowing.
Dwi Anggi Novianti +1 more
doaj +1 more source
Do changes in sovereign credit ratings contribute to financial contagion in emerging market crises? [PDF]
, 2003 Credit rating changes for long-term foreign currency debt may act as a wake-up call with upgrades and downgrades in one country affecting other financial markets within and across national borders. Such a potential (contagious) rating effect is likely to
Kräussl, Roman
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Determinants and Impact of Sovereign Credit Ratings [PDF]
SSRN Electronic Journal, 1996 n recent years, the demand for sovereign credit rat-ings—the risk assessments assigned by the creditrating agencies to the obligations of central govern-ments—has increased dramatically. More govern-ments with greater default risk and more companiesdomiciled in riskier host countries are borrowing in inter-national bond markets.
Richard Cantor, Frank Packer
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CREDIT RATING AGENCIES AND THEIR EFFECTS: AN ANALYSIS ON BALKAN COUNTRIES
Journal of Process Management and New Technologies, 2021 The financial structure in the world has become more complex with the increase in global capital movements. For this reason, credit rating agencies have emerged as an important component of the financial structure.
Nuh Ekrem Yıldırım +2 more
doaj +1 more source