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 …

dramatically increased during the period of financial shocks such as IT bubble in 2000, crisis resulted from credit card in 2003 …

English Abstract: This paper tests the informational efficiency of capital market by investigating the effect of credit … 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 …

corporate tax affect a corporate investment. Considering the heterogenous companies which rely on internal financing or external … determine the size and duration of responses of investment decision to the impacts on corporate income tax. The main results we … investment changes to the corporate tax shock. Secondly, when we divided the firms into the two groups, higher and lower bank …

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 …