Credit rating, financing and stock price: evidence from Indian healthcare industry
نویسندگان
چکیده
منابع مشابه
Credit Rating Changes, Information Acquisition and Stock Price Informativeness
How do rating changes affect investor behavior and price informativeness? In a model with endogenous information acquisition and investors with limited attention, we show that the returns to information and the informativeness of the price system increase after a downgrade, but should not experience a significant change after an upgrade. Using a sample of U.S. publicly traded firms that experie...
متن کاملIntra-Industry Credit Contagion Evidence from the Credit Default Swap Market and the Stock Market
By exploiting a comprehensive dataset of Credit Default Swaps (CDS), we investigate the intra-industry credit contagion effect in the context of Chapter 11 bankruptcy, Chapter 7 liquidation, and other credit events defined by extreme jumps in the CDS spread. Our analysis suggests the following findings: First, the credit contagion effect dominates the competitive effect surrounding Chapter 11 r...
متن کاملCredit Rating in China’s Bond Market: Evidence from Short-Term Financing Bonds
In recent years, the Chinese government has highly emphasized the development of bond market, which plays an important role during the development of macro-economy and finance sector in China, especially on some crucial steps concerning national economy and the people’s livelihood, as well as reforms in banking industry and the financial innovations. However, the bond market is smaller compared...
متن کاملAnalyzing the Impact of Credit Ratings on Firm Performance and Stock Returns: Evidence from Taiwan
The respective study covers three aspects; factors determining credit rating, credit rating impact on performance of entities and the relation between stock returns and credit rating. The study focuses on the firms listed in Taiwan Stock Exchange (TSE) of Taiwan. The empirical analysis uses the data of 50 firms rated by Taiwan Ratings Corporation (TRC) for the period 2010-2015. Two estimation t...
متن کاملLong-Run and Short-Run Causality between Stock Price and Gold Price: Evidence of VECM Analysis from India
The prime objective of the study is to identify the long-run and short-run relationship between Indian stock price viz., BSE SENSEX (hereafter named as BSE) and gold price (GOLD) in India. The daily closing price data were collected for the period of ten years ranging from 1st April 2004 to 31st March 2014 with 2490 observations. The study employed two models: Model one us...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: International Journal of Financial Services Management
سال: 2020
ISSN: 1460-6712,1741-8062
DOI: 10.1504/ijfsm.2020.113163