This book provides the conceptual and operational tools for understanding the mechanisms for assigning a rating to a network of companies. In it, the author explores the rating systems of corporate networks and analyses the link between rating and an enterprise network

Strategische Entscheidungen und die Trennung von Eigentum und Kontrolle -- Reputation im Zusammenspiel von Kapitalgebern und Management -- Die Bewertung von M&A-Transaktionen -- Die amerikanische Banken- und Telekommunikationsindustrie -- Empirische Untersuchung -- Fazit und Schlussbemerkungen.

Statistical Methods to Develop Rating Models -- Estimation of a Rating Model for Corporate Exposures -- The Shadow Rating Approach - Experience from Banking Practice -- Estimating Probabilities of Default for Low Default Portfolios -- Transition Matrices: Properties and Estimation Methods -- A...

This paper examines the performance of emerging market bank stocks around the time of rating changes by major international agencies. The data suggest that downgrades on average have followed periods of negative cumulative abnormal returns for banks, although upgrades have not followed periods...

The crisis in Europe has underscored the vulnerability of European bank funding models compared to international peers. This paper studies the drivers behind this fragility and examines the future of bank funding, primarily wholesale, in Europe. We argue that cyclical and structural factors have...

We reconsider the design of welfare-optimal monetary policy when financing frictions impair the supply of bank credit, and when the objectives set for monetary policy must be simple enough to be implementable and allow for effective accountability. We show that a flexible inflation targeting...