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The Credibility of Credit Ratings: Does a Timely Relation between Credit Ratings and Credit Risk exist for the Financial Services? - Couverture souple

Schipperus, Arjan

 
9783848448425: The Credibility of Credit Ratings: Does a Timely Relation between Credit Ratings and Credit Risk exist for the Financial Services?
Couverture souple
ISBN 10 : 3848448424 ISBN 13 : 9783848448425
Editeur : LAP LAMBERT Academic Publishing, 2012

Synopsis

This work examines the possible relation between credit risk and credit ratings, and the timeliness of this relation for the financial services. Investors and regulators use credit ratings as part of their decision making process and it is important to understand to which extend credit ratings reflect actual credit risk. This research focuses on the financial services because of the increasing credit risk over the years 2003 till 2007 and the strong commercial interests of credit rating agencies in this industry. A distorted relation between credit risk and credit ratings is most likely to become apparent in the financial services. Six financial metrics are used as a proxy for credit risk and two variables are used to measure changes in credit ratings. Based on the data and analyses the relation between credit ratings and credit risk is – at best – weak for the research period. The most significant relations are lagged by three or four years, which means that credit ratings are responding three or four years after changes in credit risk occur.

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Présentation de l'éditeur

This work examines the possible relation between credit risk and credit ratings, and the timeliness of this relation for the financial services. Investors and regulators use credit ratings as part of their decision making process and it is important to understand to which extend credit ratings reflect actual credit risk. This research focuses on the financial services because of the increasing credit risk over the years 2003 till 2007 and the strong commercial interests of credit rating agencies in this industry. A distorted relation between credit risk and credit ratings is most likely to become apparent in the financial services. Six financial metrics are used as a proxy for credit risk and two variables are used to measure changes in credit ratings. Based on the data and analyses the relation between credit ratings and credit risk is – at best – weak for the research period. The most significant relations are lagged by three or four years, which means that credit ratings are responding three or four years after changes in credit risk occur.

Biographie de l'auteur

Studied Master in Accounting and Control at the University of Amsterdam. Works since 10 years as independent consultant. Currently studies Master in Law at VU Univeristy Amsterdam.

Les informations fournies dans la section « A propos du livre » peuvent faire référence à une autre édition de ce titre.

Éditeur
LAP LAMBERT Academic Publishing
Date d'édition
2012
Langue
anglais
ISBN 10 
3848448424
ISBN 13 
9783848448425
Reliure
Broché
Nombre de pages
84
Coordonnées du fabricant
non disponible
Personne responsable
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