Disagreement between rating agencies and bond opacity: a theoretical perspective

Hauck, A. ORCID: 0000-0002-6949-6732 and Neyer, U., 2014. Disagreement between rating agencies and bond opacity: a theoretical perspective. Economics Letters, 123 (1), pp. 82-85. ISSN 0165-1765

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Abstract

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.

Item Type: Journal article
Publication Title: Economics Letters
Creators: Hauck, A. and Neyer, U.
Publisher: Elsevier
Date: 2014
Volume: 123
Number: 1
ISSN: 0165-1765
Identifiers:
NumberType
10.1016/j.econlet.2014.01.027DOI
S016517651400041XPublisher Item Identifier
Divisions: Schools > Nottingham Business School
Depositing User: Jonathan Gallacher
Date Added: 22 Feb 2019 08:27
Last Modified: 22 Feb 2019 08:28
URI: http://irep.ntu.ac.uk/id/eprint/35790

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