Yamori, Nobuyoshi (contributor); Asai, Yoshihiro (contributor) - 2006
was characterized as a bank-centered economy, but the banking system did not function well in the 1990's. Responding to … between credit rating companies (i.e., Moody's and Standard and Poor's) over new issued bonds to measure the difficulty in … evaluating firms' risks. In this paper, we follow Morgan (2002) and investigate whether credit rating companies likely agreed on …