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In this study, we begin by assessing the ability of sovereign credit ratings to anticipate crises. In addition, given the wave of sovereign credit ratings downgrades that have followed the crises in Asia, we investigate formally the extent to which credit ratings are reactive. Along the way, we...
Persistent link: https://www.econbiz.de/10008531919
evaluating Japanese regional banks from 2000 to 2009. We extend and enhance previous studies, including Gonis and Taylor (2009 … rate Japanese regional banks more stringently during this period, perhaps because they wished not to repel clients and …
Persistent link: https://www.econbiz.de/10009004159
communication between micro prudential supervisors (usually national financial supervisors and central banks) and macro prudential …
Persistent link: https://www.econbiz.de/10009147711
The present paper reviews the causes that led to the financial crisis. Unlike other interpretations, this paper does not place main significance on a single source or on a set of causes. I consider all major standpoints highlighted by research and media prior, during and after the financial...
Persistent link: https://www.econbiz.de/10009294924
proposals have been welcomed, there has been growing realization since the aftermath of the recent Financial Crisis that banks …
Persistent link: https://www.econbiz.de/10009283808
Credit ratings have assumed an increasingly formidable and important role over the years. An increased role and revisions to its foundations, have been triggered, not only in view of the shortcomings of credit ratings based criteria, as revealed through the recent Financial Crisis, but also the...
Persistent link: https://www.econbiz.de/10011111545
This paper examines what types of Japanese regional banks are more likely to obtain credit ratings at the present time … when disclosures by financial institutions are becoming more and more important. We found that banks in more competitive … also revealed that regional banks in the same region (prefecture) as other banks that go bankrupt often feel it necessary …
Persistent link: https://www.econbiz.de/10008596358
This paper aims to highlight why the harmonization of two major legislative frameworks, namely, Basel III and the Dodd Frank Act, will contribute immensely to resolving future global as well as regional financial crises. More specifically, the paper also aims to highlight the significance and...
Persistent link: https://www.econbiz.de/10009402049
Persistent link: https://www.econbiz.de/10004981627
Recently, credit ratings have been enhancing the influence on issuers as well as the national economy. This paper explains the historical development and several current features of the Japanese bond market, and discusses why credit ratings gained a significant role in the 1990s. We also present...
Persistent link: https://www.econbiz.de/10005105705