Disagreement between rating agencies and bond opacity: a theoretical perspective

Achim Hauck; Ulrike Neyer

doi:10.1016/j.econlet.2014.01.027

Disagreement between rating agencies and bond opacity: a theoretical perspective

Achim Hauck
, Ulrike Neyer

Research output: Contribution to journal › Article › peer-review

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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.

Original language	English
Pages (from-to)	82-85
Number of pages	3
Journal	Economics Letters
Volume	123
Issue number	1
DOIs	https://doi.org/10.1016/j.econlet.2014.01.027
Publication status	Published - Apr 2014

Keywords

Opaque assets
ratings
rating agencies
rating splits

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10.1016/j.econlet.2014.01.027

HAUCK_2014_cright_EL_Disagreement between rating agencies and bond opacity
http://www.elsevier.com/journal-authors/author-rights-and-responsibilities
Accepted author manuscript (Post-print), 8.56 MBLicence: CC BY-NC-SA

http://www.sciencedirect.com/science/article/pii/S016517651400041X

Cite this

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title = "Disagreement between rating agencies and bond opacity: a theoretical perspective",

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. ",

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KW - Opaque assets

KW - ratings

KW - rating agencies

KW - rating splits

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DO - 10.1016/j.econlet.2014.01.027

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JO - Economics Letters

JF - Economics Letters

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Disagreement between rating agencies and bond opacity: a theoretical perspective

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Keywords

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