Do Credit Ratings Really Affect Capital Structure?
نویسندگان
چکیده
منابع مشابه
Credit Ratings and Capital Structure
This paper examines to what extent credit ratings directly affect capital structure decisions. The paper outlines discrete costs/benefits associated with firm credit rating level differences, and tests whether concerns for these costs/benefits directly affect debt and equity financing decisions. The tests find that firms near a rating upgrade or downgrade issue less debt relative to equity than...
متن کاملFaculty Attitudes Towards Student Ratings: Do the Student Rating Scores Really Matter?
Faculty Attitudes Towards Student Ratings: Do the Student Rating Scores Really Matter? Abdolhussein Shakurnia1 Abstract Introduction: Survey on faculty attitudes towards student ratings can reveal the strengths and weaknesses of faculty evaluation and be considered as an effective measure leading to higher quality. The purpose of this study was to investigate the effect of faculty evalua...
متن کاملCredit Risk, Credit Crunch and Capital Structure
A firm partially financed by debt is considered. The firm is subject to two types of shocks: macro-shocks modeled as a finite state Markov chain, and idiosyncratic shocks. The dynamics of the latter may depend on the state of the macroeconomy; the state of the economy is determined not only by fundamentals but the market sentiment as well. The lenders are competitive and debt is rolled over unt...
متن کاملDo Consumers Really Want Credit Card Reform ?
E arlier this year, several bills were introduced in Congress to curb what many consumer advocates have described as abusive credit card practices. These bills were intended to keep credit card issuers from penalizing consumers for paying their card balances in full each month. In unveiling one of the measures, Congressman John LaFalce declared, [Consumers] should not be tricked or trapped int...
متن کاملCredit ratings and the BIS capital adequacy reform agenda ¬リニ
In this paper, we have revised and updated our earlier study in order to analyze the most recent (second) draft of the BIS’s proposed reforms of bank capital requirements. We conduct Monte-Carlo experiments using data on defaults and severity rates on publicly-traded US corporate bonds over the 1981–1999 period. Analyzing the whole period and various sub-periods, it is clear that the most recen...
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: Financial Review
سال: 2013
ISSN: 0732-8516
DOI: 10.1111/fire.12016