Add to ORKGIn response to a wave of structured product downgrades by all three major credit rating agencies in late 2007, I examine the causes of this event by incorporating the market reputational mechanism within the current regulatory environment to create a theoretical composite model. My findings suggest that this wave of downgrades stems from misaligned incentives caused by a transfer of reputation from corporate debt to structured products, which created an opportunity for rating agencies to reap large one time profits without penalty. Going forward I argue that there is no need for further regulation; the incentive to innovate and repair reputation will act as a corrective force
During the recent credit crisis credit rating agencies (CRAs) became increasingly lax in their ratin...
Both in Europe and in the United States, major steps have been taken to render credit rating agencie...
Both in Europe and in the United States, major steps have been taken to render credit rating agencie...
In response to a wave of structured product downgrades by all three major credit rating agencies in ...
In response to a wave of structured product downgrades by all three major credit rating agencies in ...
In response to a wave of structured product downgrades by all three major credit rating agencies in ...
In response to a wave of structured product downgrades by all three major credit rating agencies1 in...
The poor performance of credit ratings on structured finance products has prompted investigation int...
The poor performance of credit ratings of structured finance products in the financial crisis has pr...
Credit rating agencies have for years averred that they would never intentionally issue or maintain ...
Credit rating agencies are considered the gatekeepers to the financial markets; however, these agenc...
Ninety three percent of all AAA-rated subprime mortgage backed securities issued in 2006 were downgr...
Ninety three percent of all AAA-rated subprime mortgage backed securities issued in 2006 were downgr...
Ninety three percent of all AAA-rated subprime mortgage backed securities issued in 2006 were downgr...
During the recent credit crisis credit rating agencies (CRAs) became increas- ingly lax in their ra...
During the recent credit crisis credit rating agencies (CRAs) became increasingly lax in their ratin...
Both in Europe and in the United States, major steps have been taken to render credit rating agencie...
Both in Europe and in the United States, major steps have been taken to render credit rating agencie...
In response to a wave of structured product downgrades by all three major credit rating agencies in ...
In response to a wave of structured product downgrades by all three major credit rating agencies in ...
In response to a wave of structured product downgrades by all three major credit rating agencies in ...
In response to a wave of structured product downgrades by all three major credit rating agencies1 in...
The poor performance of credit ratings on structured finance products has prompted investigation int...
The poor performance of credit ratings of structured finance products in the financial crisis has pr...
Credit rating agencies have for years averred that they would never intentionally issue or maintain ...
Credit rating agencies are considered the gatekeepers to the financial markets; however, these agenc...
Ninety three percent of all AAA-rated subprime mortgage backed securities issued in 2006 were downgr...
Ninety three percent of all AAA-rated subprime mortgage backed securities issued in 2006 were downgr...
Ninety three percent of all AAA-rated subprime mortgage backed securities issued in 2006 were downgr...
During the recent credit crisis credit rating agencies (CRAs) became increas- ingly lax in their ra...
During the recent credit crisis credit rating agencies (CRAs) became increasingly lax in their ratin...
Both in Europe and in the United States, major steps have been taken to render credit rating agencie...
Both in Europe and in the United States, major steps have been taken to render credit rating agencie...