This paper investigates the incentive of credit rating agencies (CRAs) to bias ratings using a semiparametric, ordered-response model. The proposed model explicitly takes conflicts interest into account and allows depend flexibly on risk attributes through semiparametric index structure. Asymptotic normality for estimator is derived after several correction techniques. Using Moody’s data from 2...

In a recent publication [Galanakis I et al 2006 Phys. Rev. B 74 140408(R)] we have shown that in the case of CrAs and related transition-metal chalcogenides and pnictides, crystallizing in the zinc-blende structure, the excess of the transition-metal atoms leads to half-metallic ferrimagnetism. The latter property is crucial for spintronic applications with respect to ferromagnets due to the lo...

This abstract has a citation (Guyon and Elisseeff, 2003). Lorem ipsum dolor sit amet, consectetuer adipiscing elit. Ut purus elit, vestibulum ut, placerat ac, adipiscing vitae, felis. Curabitur dictum gravida mauris. Nam arcu libero, nonummy eget, consectetuer id, vulputate a, magna. Donec vehicula augue eu neque. Pellentesque habitant morbi tristique senectus et netus et malesuada fames ac tur...

This paper empirically analyzes the effect of competition on rating quality under the "issuerpay" compensation scheme. Using hand-collected data of collateralized debt obligations (CDOs), we specify the competition among credit rating agencies with a discrete game framework and test its influence on the rating quality. We find that competition raised the probability of choosing lenient rating b...

Ratings issued by credit rating agencies (CRAs) play an important role in the global financial environment. Among other issues, past studies have explored the potential for predicting these ratings using a variety of explanatory factors and modeling approaches. This paper describes a multicriteria classification approach that combines accounting data with a structural default prediction model i...

In a bi-directional Community Antenna Television (CATV) Network the use of a Contention Resolutions Algorithm (CRA) is essential in order to allocate the bandwidth of the multiaccess medium in the upstream direction between the active stations. Two of the CRAs known as exponential backoff algorithm and splitting tree algorithm, have recently been adopted by the Digital Video Broadcasting (DVB)/...