منابع مشابه
The Optimal Regulation of Credit Rating Agencies
Credit rating agencies (CRAs) very often have been criticized for announcing inaccurate credit ratings and are suspected of being exposed to conicts of interest. Despite these objections CRAs remained largely unregulated. Based on Pagano & Immordino (2007), we study the optimal regulation of CRAs in a model where rating quality is unobservable and enforcing regulation is costly. The model show...
متن کاملBarriers and restrictions on the activity of credit rating agencies of Tehran Secutities (in order to develop the capital market)
Abstract Credit ratings reflect the publisher's ability and willingness to fulfill its financial obligations fully and in a timely manner, leading to increased confidence in listed corporations (publishers). The main purpose of the plan is to identify and present the obstacles and limitation...
متن کاملA “sarbanes-oxley” for Credit Rating Agencies? a Comparison of the Roles Auditors’ and Credit Rating Agencies’ Conflicts of Interests Played in Recent Financial Crises
Both auditors and credit rating agencies have been linked to financial scandals in recent history. In the early 2000’s, several of the “big five” accounting firms issued favorable audit opinions to public companies employing deceptive accounting practices. Some of these companies even committed outright fraud. Once the investing public caught wind of these accounting irregularities, it lost tru...
متن کاملeconomics of employment agencies
employment agencies have gained an increasing significance in matching employment and vacancies in the economy. solo searches by workers, and shorterperiods of employment, have necessarilyadded to the need for third party agents for the matching process in labour markets. thus the existence of these agents and sole agent searches has created a multiplicity of wages across labour . markets. we d...
متن کاملDo Global Credit Rating Agencies Think Globally? The Information Content of Firm Ratings around the World
What is the information content of firm ratings? We disentangle the relative contribution to firms’ ratings of sovereign risks and individual firms’ performance indicators, reportedly employed by rating agencies. We reach three conclusions. First, sovereign risks’ contribution is disproportionately greater in developing countries vis-à-vis developed countries. Second, even controlling for the “...
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ژورنال
عنوان ژورنال: Foundations and Trends® in Finance
سال: 2017
ISSN: 1567-2395,1567-2409
DOI: 10.1561/0500000048