This study examines the role of Corporate Social Responsibility (CSR) and Broad-Based Black Economic Empowerment (BBBEE) approaches in South Africa for the country’s transformation process towards a more sustainable and equitable development. The main focus of the empirical part of the survey...

This paper presents a first empirical examination of all available German mini-bond offerings between 2010 and 2015. We compare the default probability according to a mini-bond's initial rating with that implied by credit risk models, and show that rating agencies can create rating inflation by...