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Sovereign debt and credit rating bia...
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  • Sovereign debt and credit rating bias[electronic resource] /
  • 紀錄類型: 書目-語言資料,印刷品 : Monograph/item
    杜威分類號: 336.34
    書名/作者: Sovereign debt and credit rating bias/ by David F. Tennant, Marlon R. Tracey.
    作者: Tennant, David F.
    其他作者: Tracey, Marlon R.
    出版者: New York : : Palgrave Macmillan US :, 2016.
    面頁冊數: ix, 125 p. : : ill., digital ;; 23 cm.
    Contained By: Springer eBooks
    標題: Debts, Public.
    標題: Credit ratings.
    標題: Finance.
    標題: Risk Management.
    標題: Banking.
    標題: Public Finance.
    標題: Business Finance.
    標題: Accounting/Auditing.
    標題: Development Economics.
    ISBN: 9781137391506
    ISBN: 9781349679546
    摘要、提要註: Sovereign Debt and Credit Rating Bias rejects the notion that credit rating agencies' rigorous and transparent determination of ratings leaves no room for bias, and debunks the myth that the value CRAs place on their reputational capital precludes prolonged biases. To determine the extent of CRAs' biased actions, Tennant and Tracey apply a rigorous methodology to a well-established economic model of the determinants of sovereign debt quality. They present strong evidence of bias against poor countries and demonstrate how biased rating changes could disadvantage such countries and the companies operating therein as they seek access to international capital markets. They discuss plausible explanations for the bias and suggest remedial measures that would help ensure balance in credit rating changes. This book fills an important gap by rigorously examining a long-standing but often ignored concern about the rating practices of credit rating agencies.
    電子資源: http://dx.doi.org/10.1057/9781137391506
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