Ismail, Ashraf; Oh, Seunghack; Arsyad, Nuruzzaman - In: Review of Financial Economics 24 (2015) C, pp. 36-41
Split ratings occur when national and international credit rating agencies assign different ratings to the same firm. Employing various proxies for asymmetric information and data from advanced and emerging bond markets, we review the evidence that split ratings are caused by asymmetric...