منابع مشابه
Credit Ratings and Firm Litigation Risk
............................................................................................................................... 3 Acknowledgements ............................................................................................................. 4
متن کاملAnalyzing the Impact of Credit Ratings on Firm Performance and Stock Returns: Evidence from Taiwan
The respective study covers three aspects; factors determining credit rating, credit rating impact on performance of entities and the relation between stock returns and credit rating. The study focuses on the firms listed in Taiwan Stock Exchange (TSE) of Taiwan. The empirical analysis uses the data of 50 firms rated by Taiwan Ratings Corporation (TRC) for the period 2010-2015. Two estimation t...
متن کاملCredit Risk, Credit Derivatives and Firm Value Based Models
∗Schwartz Center for Economic Policy Analysis, New School, New York, and Center for Empirical Macroeconomics, Bielefeld
متن کاملThe Informational Value of Corporate Credit Ratings
This paper examines the quality of credit ratings issued by the three major credit rating agencies Moody’s, Standard and Poor’s and Fitch. If credit ratings are informative, then prices of underlying credit instruments such as fixed-income securities and credit default insurance should change to reflect the new credit risk information. Using data on 246 different major fixed-income securities i...
متن کاملContracting on Credit Ratings : Adding Value to Public Information ∗ Christine
We provide a rationale for the use for credit ratings even when ratings contain no new information about a risky security (such as in the case of sovereign debt). In our model, an investor contracts with an manager who invests in a risky bond. The bond’s return depends in part on the state. The state is known to both investor and manager, but unverifiable to a third party and therefore non-cont...
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ژورنال
عنوان ژورنال: Investment Management and Financial Innovations
سال: 2020
ISSN: 1810-4967,1812-9358
DOI: 10.21511/imfi.17(2).2020.13