This paper studies the stock market response to corporate downgrades by S&P, Moody's and Fitch between 1999 and 2011. The empirical evidence shows that cumulative abnormal returns around downgrades become significantly smaller (in absolute value) after the release in 2003 of the Securities and Exchange Commission’s Report on credit rating agencies. The Report addresses concerns related to the agencies and marks a turning point in the attitude of U.S. regulators towards a more critical approach. This has a strong impact on investors that respond by reacting less to downgrades
This chapter contributes to a better understanding of stock market reactions to downgrades and of th...
The thesis examines whether the role of credit rating prior to the announcement of credit rating cha...
This study investigates whether a change in credit ratings lead to a change in daily excess stock re...
This paper studies the stock market response to corporate downgrades by S&P, Moody's and Fitch b...
We investigate time-varying credit risk information flow from the CDS market to the stock market for...
The first purpose of this research is to study which are the main determinants of the changes of Bra...
This thesis investigates the effect of credit rating change announcements on stock returns. Most of ...
This thesis analyses stock market reaction of European stock markets to sovereign credit rating down...
The study examines whether a change in credit rating results in a change in daily excess stock retur...
This study investigates the aggregate stock market impact of sovereign rating changes. Consistent wi...
This Paper analyses the response of stock and credit default swap (CDS) markets to rating announceme...
The global financial crisis brought increased attention to the importance of rating agencies. The br...
none3siWe investigate how shocks to the reputation of credit rating agencies and the subsequent intr...
This study examines the impacts of rating change timing differences between the two leading agencies...
This dissertation analyses the effect of credit rating decisions on stock returns for the US Marke...
This chapter contributes to a better understanding of stock market reactions to downgrades and of th...
The thesis examines whether the role of credit rating prior to the announcement of credit rating cha...
This study investigates whether a change in credit ratings lead to a change in daily excess stock re...
This paper studies the stock market response to corporate downgrades by S&P, Moody's and Fitch b...
We investigate time-varying credit risk information flow from the CDS market to the stock market for...
The first purpose of this research is to study which are the main determinants of the changes of Bra...
This thesis investigates the effect of credit rating change announcements on stock returns. Most of ...
This thesis analyses stock market reaction of European stock markets to sovereign credit rating down...
The study examines whether a change in credit rating results in a change in daily excess stock retur...
This study investigates the aggregate stock market impact of sovereign rating changes. Consistent wi...
This Paper analyses the response of stock and credit default swap (CDS) markets to rating announceme...
The global financial crisis brought increased attention to the importance of rating agencies. The br...
none3siWe investigate how shocks to the reputation of credit rating agencies and the subsequent intr...
This study examines the impacts of rating change timing differences between the two leading agencies...
This dissertation analyses the effect of credit rating decisions on stock returns for the US Marke...
This chapter contributes to a better understanding of stock market reactions to downgrades and of th...
The thesis examines whether the role of credit rating prior to the announcement of credit rating cha...
This study investigates whether a change in credit ratings lead to a change in daily excess stock re...