The paper explores the reputational damages suffered by major and minor rating agencies as a consequence of the subprime crisis. The analysis is carried out through a standard event standard methodology on a sample of 1821 rating actions during the period November 2003 – November 2013. The evidence shows a lower market reaction to rating actions, especially when the evaluation is far away from the threshold between investment and speculative grade.
JEL Codes: G12, G14, G24
Total Reviews: 0
After completion purchase and payment you will get an email with download link of book. You can download this book within 24 hours. Be remember you can't download this book after 24 hours.
There are no reviews yet.