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 …

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 …

financing institution for people with poor credit. Because regulatory and supervisory regulations of savings banks are different …. Especially, managers of the savings bank are expected to choose the earnings management method considering resulting costs and …. Empirical evidence indicates that savings bank discretionarily exploit classification of loans assets to smooth earnings …

in the safety net and the integrated risk management over bank and insurance industry. First, the safety net institutions … regulatory regimes over bank and insurance industry may induce the regulatory capital arbitrage chances, and lead to the risk …

English Abstract: This paper examines how global expansion affects the performance of bank headquarters and foreign … years. This move is largely in response to fierce competition between domestic banks. There is, however, a growing concern …

emerging economies in controlling systemic risks. FX-related liquidity risks remain the main driver of credit and market risks … and draws implications for effective macroprudential supervision. Unlike the strains of typical portfolio credit risk …-contingent interactions with financial-macro factors. We employ a two-pronged approach based on portfolio credit risk and factor models to …

countercyclical capital buffers in Korea. The statistical evidence presented in the paper indicates that the credit-to-GDP gap … the central bank …