haku: @author Ederington, L. H. / yhteensä: 8
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| Tekijä: | Ederington, L. H. Yawitz, J. B. Roberts, B. E. |
| Otsikko: | The informational content of bond ratings. |
| Lehti: | Journal of Financial Research
1987 : FALL, VOL. 10:3, p. 211-226 |
| Asiasana: | BONDS RATING SCALES INFORMATION TRANSFER |
| Kieli: | eng |
| Tiivistelmä: | An exploration of the risk structure of interest rates, whether yields on industrial bonds indicate that the market participants base their evaluations on a bond issue's default risk on agency ratings or publicly available financial statistics. A non-linear least squares procedure is used, yield-to-maturity related to Moody's rating, standard and Poor's rating, and accounting measures of creditworthiness such as coverage and leverage. The analysis also reviews ratings as equally reliable measures of risk or whether the market attaches more weight to one agency's ratings than the other. |
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