Disagreement between rating agencies and bond opacity: A theoretical perspective
2014
Hauck, Achim | Neyer, Ulrike
In this paper, we explicitly model a bond rating process under varying degrees of bond opacity and derive conditions under which disagreements between rating agencies (rating splits) can serve as a useful proxy for opacity in empirical analyses.
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Bibliographic information
Publisher
Elsevier B.V.
Other Subjects
Empirical research; G30; Ratings; Opacity; G20; Opaque assets; G24; Rating agencies; Rating splits
Language
English
Type
Journal Article; Text
2024-02-27
MODS
Data Provider
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