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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
Ratings, Rating Agencies and the Global Financial System

Ratings, Rating Agencies and the Global Financial System

Levich, Richard M.
Majnoni, Giovanni
Reinhart, Carmen

Hardcover

Series: The New York University Salomon Center Financial Markets and Institutions, Book 9

AccountingInvesting & Finance

ISBN10: 1402070160
ISBN13: 9781402070167
Publisher: Springer Nature
Published: Aug 31 2002
Pages: 379
Weight: 1.69
Height: 1.03 Width: 6.30 Depth: 9.78
Language: English
Ratings, Rating Agencies and the Global Financial System brings together the research of economists at New York University and the University of Maryland, along with those from the private sector, government bodies, and other universities. The first section of the volume focuses on the historical origins of the credit rating business and its present day industrial organization structure. The second section presents several empirical studies crafted largely around individual firm-level or bank-level data. These studies examine (a) the relationship between ratings and the default and recovery experience of corporate borrowers, (b) the comparability of credit ratings made by domestic and foreign rating agencies, and (c) the usefulness of financial market indicators for rating banks, among other topics. In the third section, the record of sovereign credit ratings in predicting financial crises and the reaction of financial markets to changes in credit ratings is examined. The final section of the volume emphasizes policy issues now facing regulators and credit rating agencies.

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