rating on firm valuation. In particular, this paper estimates the effect of the credit rating on stock return and volatility … by employing cross-sectional regressions across listed firms in stock exchanges, some of which possess credit rating …(s) while others do not. The estimation results show that the credit rating reduces the volatility of stock return while it does …

English Abstract: Credit rating provides information predicting firm's future cash flows and risk under uncertainty and … hence represents its intrinsic value. Credit rating plays a role as certifier of credit risk of borrowing firm in financial … credit rating on volatility of debt financing and provides evidence that credit rating reduces the volatility of those while …

financial institution such as credit rating and asset quality rating. This study uses 4,712 company data from 2008 to 2012 for … study credit rating, internal control vulnerability, presence of outside auditors and return on equity are selected major … variables through logic analysis, and asset quality rating, operation cash flow and operating profit ratio are selected …

rating agencies have not been successful in providing proper and timely information on the loan repayment abilities of … debtors. This study analyzes past performance of credit rating agencies in Korea and tries to develop policy implications to … improve the role of credit rating agencies based on the recent discussions on credit rating agencies by academics and the SEC …

English Abstract: Credit rating agencies(CRAs) are accused of failing to provide accurate and fair credit ratings and … hence being responsible for the crisis. This paper tries to add on to the literature on credit rating reform through … examining the CRAs in a model where rating quality is unobservable. We show that unobservability of rating effort results in the …

English Abstract: The purpose of this paper is to present a practical approach to do valuation of rating-triggered bond … issuer's credit rating falls below some predetermined threshold rating. The domestic rating-triggered bonds are classified … into five categories and we stress that there are differences in calculating rating downgrade probability according to five …