Skip to main navigation Skip to main content
info(at)avldigital.remove-this.de
Deutsch English
Narrow Search
Search narrowed by
Last searches

Results for *

Displaying results 1 to 2 of 2.

  1. A closer look at credit rating processes
    uncovering the impact of analyst rotation
    Author: Dinkelaker, Kilian R.; Mattig, Andreas; Morkoetter, Stefan
    Published: August 2019
    Publisher:  School of Finance, University of St. Gallen, St. Gallen

    We investigate the effect of credit analyst rotation in the context of long-term ratings of S&P 500 issuers between 2002 and 2015. We find that analyst rotation in the coverage of issuers is associated with higher rating activity and a lower credit... more

    Access:
    Verlag (kostenfrei)

    Location:
    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
    Inter-library loan:
    No inter-library loan

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 314
    Inter-library loan:
    No inter-library loan

     

    We investigate the effect of credit analyst rotation in the context of long-term ratings of S&P 500 issuers between 2002 and 2015. We find that analyst rotation in the coverage of issuers is associated with higher rating activity and a lower credit risk assessment (e.g., rating downgrades) following the appointment of a new credit analyst. Our results provide empirical support for policies relating to mandatory credit analyst rotation programs

     
    Export to reference management software   RIS file
      BibTeX file
    Content information
    Volltext (kostenfrei)
    Volltext (kostenfrei)
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    Series: Working papers on finance ; no. 2019, 11
    University of St.Gallen, School of Finance Research Paper ; No. 2019/11
    Subjects: Rating agencies; credit ratings; credit analysts; rotation policy; analyst bias
    Scope: 1 Online-Ressource (circa 41 Seiten), Illustrationen
  2. Information asymmetry and the pricing of privately placed debt
    Author: Dinkelaker, Kilian R.; Mattig, Andreas; Morkoetter, Stefan
    Published: January 19th, 2021
    Publisher:  School of Finance, University of St. Gallen, St. Gallen

    Based on a dataset including 11,636 private debt placements issued globally between 1999 and 2016, we investigate the association between borrower-lender information asymmetry and the cost of debt for issuers. We observe that information asymmetry... more

    Access:
    Resolving-System (kostenfrei)
    Verlag (kostenfrei)

    Location:
    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
    Inter-library loan:
    No inter-library loan

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 314
    Inter-library loan:
    No inter-library loan

     

    Based on a dataset including 11,636 private debt placements issued globally between 1999 and 2016, we investigate the association between borrower-lender information asymmetry and the cost of debt for issuers. We observe that information asymmetry due to being a private or unrated firm is associated with higher cost of private debt. Our results equally inform corporate financing decisions and government initiatives aimed at promoting private debt markets in order to expand funding sources for the private sector

     
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    Series: Working papers on finance ; no. 2021, 03
    Subjects: Private placement; cost of debt; information asymmetry; corporate structure
    Scope: 1 Online-Ressource (circa 26 Seiten), Illustrationen