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The Independence of Credit Rating Agencies: How Business Models and Regulators Interact

The Independence of Credit Rating Agencies: How Business Models and Regulators Interact

Hardcover

AccountingInvesting & Finance

ISBN10: 0124045693
ISBN13: 9780124045699
Publisher: Academic Press
Published: Nov 11 2013
Pages: 200
Weight: 1.00
Height: 0.60 Width: 6.00 Depth: 9.10
Language: English

The Independence of Credit Rating Agencies focuses on the institutional and regulatory dynamics of these agencies, asking whether their business models give them enough independence to make viable judgments without risking their own profitability.

Few have closely examined the analytical methods of credit rating agencies, even though their decisions can move markets, open or close the doors to capital, and bring down governments. The 2008 financial crisis highlighted their importance and their shortcomings, especially when they misjudged the structured financial products that precipitated the collapse of Bear Stearns and other companies.

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