Please use this identifier to cite or link to this item:
https://hdl.handle.net/10419/30175
Full metadata record
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Bannier, Christina E. | en |
dc.contributor.author | Behr, Patrick | en |
dc.contributor.author | Güttler, André | en |
dc.date.accessioned | 2010-03-10 | - |
dc.date.accessioned | 2010-03-10T12:54:46Z | - |
dc.date.available | 2010-03-10T12:54:46Z | - |
dc.date.issued | 2009 | - |
dc.identifier.pi | urn:nbn:de:101:1-2009110909 | en |
dc.identifier.uri | http://hdl.handle.net/10419/30175 | - |
dc.description.abstract | This paper examines why unsolicited ratings tend to be lower than solicited ratings. Both self-selection among issuers and strategic conservatism of rating agencies may be reasonable explanations. Analyses of default incidences of non-U.S. borrowers between January 1996 and December 2006 show that rating conservatism may play a role for industrial firms, but self-selection cannot be fully rejected. Neither can it for insurance companies, though data restrictions impede further conclusions. For unsolicited bank ratings, however, we find strong evidence that rating conservatism is an important cause. The downward bias also appears to increase along with banks’ opaqueness. | en |
dc.language.iso | eng | en |
dc.publisher | |aFrankfurt School of Finance & Management |cFrankfurt a. M. | en |
dc.relation.ispartofseries | |aFrankfurt School - Working Paper Series |x133 | en |
dc.subject.jel | G15 | en |
dc.subject.jel | G24 | en |
dc.subject.ddc | 330 | en |
dc.subject.keyword | Unsolicited Ratings | en |
dc.subject.keyword | Self-Selection | en |
dc.subject.keyword | Conservatism | en |
dc.subject.keyword | Opaqueness | en |
dc.title | Rating opaque borrowers: why are unsolicited ratings lower? | - |
dc.type | Working Paper | en |
dc.identifier.ppn | 614142490 | en |
dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | en |
dc.identifier.repec | RePEc:zbw:fsfmwp:133 | en |
Files in This Item:
Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.