The paper highlights the reputational damages suffered by major and minor rating agencies as a consequence of the subprime crisis. The analysis is based on a standard event standard methodology on a sample of 1821 announcements during the period November 2003 - November 2013. The evidence shows a lower market reaction to rating actions, especially when the evaluation is far away from the threshold between investment and speculative grade.

Aftermath of the suprime crisis: reputational damages suffered by major and minor rating agencies

DE VINCENTIIS, Paola;PIA, Patrizia
2014

Abstract

The paper highlights the reputational damages suffered by major and minor rating agencies as a consequence of the subprime crisis. The analysis is based on a standard event standard methodology on a sample of 1821 announcements during the period November 2003 - November 2013. The evidence shows a lower market reaction to rating actions, especially when the evaluation is far away from the threshold between investment and speculative grade.
3rd European Business Research Conference
Roma
4-5 settembre 2014
Proceedings of the 3rd European Business Research Conference
World Business Institute Australia
1
11
http://www.wbiworldconpro.com/
credit rating agencies
DE VINCENTIIS, Paola; Pia, Patrizia
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/2318/148386
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