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Showing result 21 - 25 of 102 essays matching the above criteria.

  1. 21. Firm internationalization and the Debt Cost of Capital: Evidence from publicly traded debt in the US

    University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

    Author : Andreas Danielsson; Arne Rubin; [2020]
    Keywords : Internationalization; Cost of Debt; Multi-nationality; MNCs;

    Abstract : This paper examines the association between the firm internationalization and the cost of debt using bond credit ratings and bond credit spreads. Replicating the paper by Reeb, Mansi and Allee (2001) and then extending the study with more recent data from the period 2002-2019, we confirm their findings that higher levels of firm international activity are associated with a lower debt cost of capital. READ MORE

  3. 22. How much new information does a credit rating announcement convey to the financial markets? : A comparison before and after the 2008 global financial crisis

    University essay from Linnéuniversitetet/Institutionen för nationalekonomi och statistik (NS)

    Author : Simon Otterberg; August Zetterberg; [2020]
    Keywords : Event study; finance; credit rating; credit rating agency; information content; stock market;

    Abstract : Background: The credit rating agencies have been heavily contested and criticized. In addition to this, other informational sources may potentially deliver the information that the CRA is intended to provide. This may have changed their role in reducing information asymmetry in the financial market. READ MORE

  4. 23. Enterprise Risk Management Implementation and Default Risk: Evidence of Bank Industry in China and Nordic Countries

    University essay from Lunds universitet/Nationalekonomiska institutionen

    Author : Jiabao Yan; Junyu Wang; [2020]
    Keywords : Enterprise Risk Management; chief risk officer; bank performance; text-based method; LASSO; Business and Economics;

    Abstract : With the development of the global economy in the 21st century, enterprise risk management (ERM) has been more impactfully implemented by firms. Academics have studied the relationship between ERM and firms’ performance, yet few studies have covered the relationship between ERM and default risk, let alone the comparison study between banks in China and banks in Nordic countries, the two important markets in Asia and Europe. READ MORE

  5. 24. The Effect of Credit Rating Announcements

    University essay from Lunds universitet/Företagsekonomiska institutionen

    Author : Elisabeth Ekstedt; Hampus Hammarstrand; [2019]
    Keywords : Credit ratings; Abnormal returns; Event study; Financial crisis; Market comparison.; Business and Economics;

    Abstract : The purpose of this study is to further deepen the knowledge surrounding credit rating announcements and their impact on companies’ stock prices. Furthermore, the authors want to investigate whether the potential impacts differ between the US market and the European market, as well as previous to the financial crisis compared to post the financial crisis of 2007- 2009. READ MORE

  6. 25. Time Series Variation in Corporate Credit Rating Standards from 1986 to 2017

    University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

    Author : Jason Gans; [2019]
    Keywords : Credit Rating Agencies; Ratings Conservatism; Standard Poor s;

    Abstract : The average rating of US Corporate debt has trended downward since the mid-80s. Existing research [Blume et al (1998), Baghai et al (2014)] argues that this trend was caused by an increase in conservatism on the part of rating agencies. When holding firm characteristics constant, ratings appear to deteriorate from the period between 1985 and 2007. READ MORE