Disagreement between rating agencies and bond opacity: a theoretical perspective

Achim Hauck, Ulrike Neyer

Research output: Contribution to journalArticlepeer-review

270 Downloads (Pure)

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.
Original languageEnglish
Pages (from-to)82-85
Number of pages3
JournalEconomics Letters
Volume123
Issue number1
DOIs
Publication statusPublished - Apr 2014

Keywords

  • Opaque assets
  • ratings
  • rating agencies
  • rating splits

Fingerprint

Dive into the research topics of 'Disagreement between rating agencies and bond opacity: a theoretical perspective'. Together they form a unique fingerprint.

Cite this