Are rating agencies still credible after the subprime crisis?
نویسندگان
چکیده
منابع مشابه
RATING AGENCIES Harold Cole
For decades credit rating agencies were viewed as trusted arbiters of creditworthiness and their ratings as important tools for managing risk. The common narrative is that the value of ratings was compromised by the evolution of the industry to a form where issuers pay for ratings. In this paper we show how credit ratings have value in equilibrium and how reputation insures that, in equilibrium...
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ژورنال
عنوان ژورنال: Corporate Ownership and Control
سال: 2017
ISSN: 1810-3057,1727-9232
DOI: 10.22495/cocv14i2art8