Essays about: "Credit Rating Agency"
Showing result 6 - 10 of 12 essays containing the words Credit Rating Agency.
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6. Credit Rating Changes and Post-M&A Firm Value: Assessing the importance of credit ratings changes as a motive for successful M&A
University essay from Lunds universitet/Företagsekonomiska institutionenAbstract : This research shows the impact of credit rating change (thereafter CRC) announcements on the combined entities following mergers and acquisitions. In looking at the effect of CRC announcements on share prices, we measure the level of influence that a credit upgrade or downgrade has on the equity value of firms. READ MORE
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7. PIGS or Lambs revisited: Reassessing the Role of Rating Agencies in the European Sovereign Debt Crisis
University essay from Handelshögskolan i Stockholm/Institutionen för nationalekonomiAbstract : This paper examines whether credit rating agencies have indeed played as active a role in the Euro crisis as previously asserted. Using panel data methods for a set of 11 EMU countries, it assesses the robustness of an earlier analysis to the inclusion of additional explanatory variables. READ MORE
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8. Validation Techniques for Credit Risk Models - Applying New Methods on Nordea’s Corporate Portfolio
University essay from KTH/Skolan för teknikvetenskap (SCI)Abstract : Nordea, being the largest corporate group of its kind in Northern Europe, has a great need of evaluating its customers ability to repay a debt as well as the probability of bankruptcy. The evaluation is done by different statistically derived internal rating models, based on logistic regression. READ MORE
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9. Stock Market Impact of Sovereign Credit Rating Announcements: The Case of GIIPS and BRIC countries during the European Sovereign Debt Crisis of 2009-2013
University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomiAbstract : In this study, we analyse the effects of sovereign credit rating reviews on national stock market performances in GIIPS and BRIC countries during the European Sovereign Debt Crisis of 2009-2013. Through an event study, we test the Null Hypothesis that cumulative abnormal returns on national stock market indices are zero and find that sovereign debt downgrades produce negative cumulative abnormal returns for GIIPS countries, the effect being larger for small economies compared to big economies. READ MORE
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10. Has S&P's impact on equity returns changed due to the financial crisis?
University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomiAbstract : Since the financial crisis, rating agencies have taken a lot of negative criticism, when skewed incentive systems may have led to overrated securities causing asymmetric information in the market. Despite this criticism, CRAs still play an essential role in the market place today. READ MORE