Top management tournament incentives and credit ratings
Sign Up to like & getrecommendations! Published in 2019 at "Review of Quantitative Finance and Accounting"
DOI: 10.1007/s11156-019-00859-8
Abstract: This paper investigates whether the current level of tournament incentives for top executives is related to the firm’s future credit rating. Greater pay dispersion (our proxy for tournament incentives) has been found to be associated… read more here.
Keywords: credit ratings; tournament incentives; credit; pay dispersion ... See more keywords
Are investors fixated on credit ratings? Reinterpreting the municipal bond recalibration
Sign Up to like & getrecommendations! Published in 2020 at "Finance Research Letters"
DOI: 10.1016/j.frl.2020.101449
Abstract: Abstract Cornaggia, Cornaggia and Israelsen (2017) construe positive investor reactions to Moody's 2010 recalibration as evidence that credit ratings matter. However, the purpose of recalibration was officially discussed by Moody's as early as 2002. Furthermore,… read more here.
Keywords: fixated credit; credit ratings; ratings reinterpreting; investors fixated ... See more keywords
Sovereign credit ratings: Discovering unorthodox factors and variables
Sign Up to like & getrecommendations! Published in 2020 at "Global Finance Journal"
DOI: 10.1016/j.gfj.2020.100548
Abstract: Abstract The presence of different rating agencies and nuanced viewpoints on the determinants of sovereign credit ratings has led to convoluted and contested narratives; hence a need to arrive at common ground on both the… read more here.
Keywords: credit ratings; sovereign credit; factors variables; unorthodox factors ... See more keywords
Do sovereign credit ratings matter for foreign direct investments
Sign Up to like & getrecommendations! Published in 2018 at "Journal of International Financial Markets, Institutions and Money"
DOI: 10.1016/j.intfin.2018.01.003
Abstract: Abstract This paper examines the relationship between sovereign credit ratings and FDI flows from 31 OECD donor countries to 72 recipient (OECD and non-OECD) countries over the period of 1985–2012. There are three main findings… read more here.
Keywords: credit; credit ratings; sovereign credit; credit rating ... See more keywords
The reputational effects of analysts' stock recommendations and credit ratings: Evidence from operational risk announcements in the financial industry
Sign Up to like & getrecommendations! Published in 2018 at "International Review of Financial Analysis"
DOI: 10.1016/j.irfa.2017.10.011
Abstract: This paper investigates whether more favorable stock recommendations and higher credit ratings serve as a reputational asset or reputational liability around reputation-damaging events. Analyzing the reputational effects of operational risk announcements incurred by financial institutions,… read more here.
Keywords: credit; credit ratings; based reputational; stock recommendations ... See more keywords
A new approach to credit ratings
Sign Up to like & getrecommendations! Published in 2021 at "Journal of Banking and Finance"
DOI: 10.1016/j.jbankfin.2021.106097
Abstract: Abstract Credit ratings are fundamental in assessing the credit risk of a security or debtor. The failure of the Collateralized Debt Obligation (CDO) ratings during the financial crisis of 2007-2008 and the massive undervaluation of… read more here.
Keywords: finance; new approach; credit ratings; approach credit ... See more keywords
Sovereign credit ratings and bank funding cost: Evidence from Africa
Sign Up to like & getrecommendations! Published in 2017 at "Research in International Business and Finance"
DOI: 10.1016/j.ribaf.2017.07.024
Abstract: Abstract This paper aims to examine the relationship between sovereign credit ratings and funding costs of banks and also the relationship between sovereign credit ratings. Using over 300 banks operating in Africa from 2006 to… read more here.
Keywords: credit ratings; sovereign credit; sovereign; funding ... See more keywords
Credit ratings and corporate disclosure behaviour: evidence from regulation fair disclosure in Korea
Sign Up to like & getrecommendations! Published in 2017 at "Applied Economics"
DOI: 10.1080/00036846.2016.1262521
Abstract: ABSTRACT This article provides evidence that firms with high market expectations disclose more information to investors, utilizing the fair disclosure regulation in Korea to proxy for their disclosure choices. This finding is consistent with the… read more here.
Keywords: credit ratings; evidence; disclosure; fair disclosure ... See more keywords
Do Credit Ratings Determine Capital Structure?
Sign Up to like & getrecommendations! Published in 2021 at "International Journal of the Economics of Business"
DOI: 10.1080/13571516.2021.1961563
Abstract: Abstract This paper examines whether the possession of a credit rating has an impact on firms leverage ratio. The issue of access to alternative sources of debt finance has received special attention in the wake… read more here.
Keywords: capital structure; credit ratings; finance; credit ... See more keywords
Rating Politics? Partisan Discrimination in Credit Ratings in Developed Economies
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DOI: 10.1177/0010414017710263
Abstract: How does government partisanship influence sovereign credit ratings of developed countries? Given the convergence of fiscal and monetary outcomes between left and right governments in the past decades, credit rating agencies (CRAs) should in principle… read more here.
Keywords: credit; ratings developed; credit ratings; partisan discrimination ... See more keywords
Provincial Governance Quality and Earnings Management: Empirical Evidence from Vietnam
Sign Up to like & getrecommendations! Published in 2020 at "Journal of Asian Finance, Economics and Business"
DOI: 10.13106/jafeb.2020.vol7.no2.43
Abstract: The paper investigates the mechanism through which corporate credit ratings affect dividend payments by decomposing the mean difference of dividends into a part that is explained by the determinants of dividends and a residual part… read more here.
Keywords: credit; credit ratings; rated firms; firm characteristics ... See more keywords