haku: @indexterm credit rating / yhteensä: 52
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Tekijä:Duff, A.
Einig, S.
Otsikko:Understanding credit ratings quality: evidence from UK debt market participants
Lehti:British Accounting Review
2009 : JUN, VOL. 41:2, p. 107-119
Asiasana:credit rating
agencies
quality
debt
financial crises
United Kingdom
Kieli:eng
Tiivistelmä:The paper aims to identify the demand for corporate bond ratings provided by credit ratings agencies (hereafter as: CRAs); how issuers select CRAs; and to better understand ratings quality. Interviews identify the principal source of demand for rating information is to reduce agency conflicts between issuers and investors; the former typically engage between one and three credit rating agencies to rate their debt, implying a heterogeneous demand for rating services, and different levels of ratings quality. Nonetheless, ratings quality extends beyond competence and independence to include factors relating to professional judgment, communication, transparency, and the quality and continuity of analytic staff. The findings of the study were discussed in the light of the ongoing international policy debate concerning CRAs.
SCIMA tietueen numero: 270914
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