This study examines empirically whether corporate ratings by the credit rating agency Standard & Poor's reflect fundamental and publicly observable shocks to the credit quality of companies. This serves to assess the degree of information sensitivity of external ratings, and the timeliness of...

This issue carries five papers selected from the 9th World Valuation Congressheld in Singapore from 26-28 April 2001. A total of 40 papers were presented,including three keynote and four plenary papers. While the main focus was onproperty valuation, a diverse range of topics was covered,...