Poon, Winnie P.H.; Chan, Kam C. - In: Journal of Business Research 61 (2008) 7, pp. 790-797
We examine the certification effect of initial rating announcements and the signaling effect of rating downgrade announcements in China using a pooled time-series cross-sectional issuer rating data of 170 companies listed on the Shanghai and Shenzhen Stock Exchanges from 2002 to July 2006. The...