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Risk-return efficiency, financial distress risk, and bank financial strength ratings
Hua, Changchun; Liu, Li-gang - 2010
This paper investigates whether there is any consistency between banks' financial strength ratings (bank rating) and … higher efficiency score on average tend to obtain favorable ratings. It appears that rating agencies generally encourage …
Persistent link: https://www.econbiz.de/10008732356
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Risk-Return Efficiency, Financial Distress Risk, and Bank Financial Strength Ratings
Hua, Changchun; Liu, Li-Gang - 2010
This paper investigates whether there is any consistency between banks’ financial strength ratings (bank rating) and … higher efficiency score on average tend to obtain favorable ratings. It appears that rating agencies generally encourage …
Persistent link: https://www.econbiz.de/10014192502
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The synergy of rating agencies' efforts : Russian experience
Karminsky, Alexander - In: Financial econometrics and empirical market microstructure, (pp. 93-109). 2015
Persistent link: https://www.econbiz.de/10011326704
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The Wisdom of Crowds in FinTech : Evidence from Initial Coin Offerings
Lee, Jongsub - 2019
Certification by online analysts and early investors can generate excitement among potential token investors, leading to successful initial coin offerings (ICOs). We test the general notion of "wisdom of crowds" using novel data on nearly 3,400 ICOs, including sequential investor subscriptions...
Persistent link: https://www.econbiz.de/10012899037
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Partisan Professionals : Evidence from Credit Rating Analysts
Kempf, Elisabeth; Tsoutsoura, Margarita - 2021
Partisan perception affects the actions of professionals in the financial sector. Linking credit rating analysts to … rating actions of Democratic and Republican analysts around the 2016 presidential election. Our results show analysts …
Persistent link: https://www.econbiz.de/10013251649
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How Do Financial Analysts Implement the Sum-of-the-Parts (SOTP) Valuation Framework?
Chlomou, Grigoria - 2020
In this study, we investigate how financial analysts implement the Sum-of-the-Parts (SOTP) valuation framework. Although SOTP constitutes a popular valuation approach among sophisticated practitioners and investors, it is mostly ignored by researchers and academics. We adopt a structured content...
Persistent link: https://www.econbiz.de/10012848771
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To Be Rated, or Not to Be Rated?
Uzmanoglu, Cihan - 2022
Economic theory predicts that credit ratings provide monitoring and certification benefits that can lower the cost of borrowing. This study that compares offering yield spreads of rated and unrated corporate bonds does not find support for this prediction, when controlling for issuers’ credit...
Persistent link: https://www.econbiz.de/10014235892
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Manager- und transaktionsspezifische Determinanten der Performance von Arbitrage CLOs
Scholz, Julia - 2011
Eigenschaften des CLO-Managers und der Transaktionscharakteristika als mögliche Einflussfaktoren der Rating Performance. Es wird … Erfahrung bzw. der Größe eines CLO-Managers und der Rating Performance festgestellt. Der Einfluss des Managers auf die … Untersuchungszeitraum kein signifikanter Einfluss auf die Rating Performance nachgewiesen. …
Persistent link: https://www.econbiz.de/10008903410
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Valuation of a Cashflow CDO Without Monte Carlo Simulation
Gallagher, Donal A. - 2009
Unlike tranches of synthetic CDOs, that depend only on the defaults of the underlying securities, tranches of cashflow CDOs also depend on the interest cash flows from the coupons of the securities. Whilst fast, accurate, (semi-)analytic methods exist for pricing synthetic CDO tranches (Hull and...
Persistent link: https://www.econbiz.de/10013156360
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Revolving Rating Analysts and Ratings of MBS and ABS : Evidence from LinkedIn
Jiang, John (Xuefeng) - 2017
This study examines whether credit rating analysts who transition from major rating agencies to issuers are associated … with any rating inflation in the issuers' mortgage-backed securities (MBS) or asset-backed securities (ABS). Using … professional profiles posted on LinkedIn to identify revolving rating analysts with structured finance rating experience, we find …
Persistent link: https://www.econbiz.de/10012973188