Abad, Pilar; Robles Fernandez, M. Dolores - Facultad de Ciencias Económicas y Empresariales, … - 2014
Risk-averse investors take into consideration risk-return tradeoff for decide their new position after the release of relevant information. This paper analyzes the informational content of rating change announcements focusing on the joint reaction they cause on the risk-return binomial. Our...