Disagreement between rating agencies and bond opacity: a theoretical perspective

Hauck, A ORCID: https://orcid.org/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:	Number Type 10.1016/j.econlet.2014.01.027 DOI S016517651400041X Publisher Item Identifier
Divisions:	Schools > Nottingham Business School
Record created by:	Jonathan Gallacher
Date Added:	22 Feb 2019 08:27
Last Modified:	22 Feb 2019 08:28
URI:	https://irep.ntu.ac.uk/id/eprint/35790

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