Many blame the recent financial market turmoil on malfeasance of ratings agencies, who had incentives to bias their ratings. But these incentives had existed for decades. Why did the ratings bias issue only recently emerge? We model asset issuers who can shop for ratings – observe multiple ratings and disclose only a subset – before auctioning their assets. When assets are simple, agencies’ rat...

The aim of this study was to find evidence whether the ratings prior Russia’s reinvasion Ukraine in 2022 reflected geopolitical risks, and if rating actions taken response aggression accurately informed financial market participants conflict’s spillover impacts, transmitting them credit risk assessment. indicate a considerable shock from underestimation political risks Russia, including autocra...

.................................................................................................................................................. ix Introduction...............................................................................................................................................1 I. The determinants of foreign currency sovereign ratings: theory, data and OLS estimates ...

Sharia compliance is considered the basic component of Islamic financial industry as sharia permissibility one motive for majority customers Financial services. Presently assurance regarding institution given by Advisor or board respective institution. But there no process, similar to credit rating agencies, which provides public an independent assessment commitment different regard follow inju...

Credit ratings assigned by rating agencies to structured credit products have played an important role in the development of the structured credit market, which has been cast into the limelight by the recent credit crisis. This study aims at clarifying some misconceptions related to CDO ratings, their interpretation and their use. We first describe the rating approaches used by major agencies f...

This paper aims to identify the predominant determinants of sovereign credit ratings in Indonesia and its peer countries from 2004 2019 by considering GDP per capita, official reserve, government debt, Current Account Balance, Credit Default Swap (CDS), Sovereign Rating used three major rating agencies. CDS is considered a newly proposed variable with predicting capacity as measure default. rat...