haku: @author Liu, P. / yhteensä: 7
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| Tekijä: | Perry, L. G. Liu, P. Evans, D.A. |
| Otsikko: | Modified bond ratings: further evidence on the effect of split ratings on corporate bond yields |
| Lehti: | Journal of Business Finance and Accounting
1988 : SUMMER, VOL. 15:2, p.231-242 |
| Asiasana: | BONDS STOCK MARKETS |
| Kieli: | eng |
| Tiivistelmä: | A recent study by Billingsley, Lamy, Marr and Thompson (1985) investigated the effect of split ratings on reoffering yields. While that study provides insight into split ratings and reoffering yields, it does not consider the effect of modified ratings which Moody's and Standard and Poor's rating agencies currently use.The findings agree with those of Billingsley, Lamy, Marr and Thompson study when the broad rating categories are used. However, when modified ratings are considered, there is no significant resulting from split ratings. Also, Moody's was found to be more conservative than Standard and Poor in rating the bonds. |
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