Dedications. Authors' Biographies. I. Introduction. Opening Remarks and Motivation. Major Concepts and Roadmap Through the Book. II. The Lessons of History. 1. History and the Equity Risk Premium. 2. Stocks, Bonds, Bills and Inflation: Year-by-Year Historical Returns (1926-1974),, Roger G....

This paper explores the economic role credit rating agencies play in the corporate bond market. We consider three existing theories about multiple ratings: information production, rating shopping and regulatory certification. Using differences in rating composition, default prediction and credit...

This paper explores the economic role credit rating agencies play in the corporate bond market. We consider three existing theories about multiple ratings: information production, rating shopping and regulatory certification. Using differences in rating composition, default prediction and credit...