Showing 211 - 219 of 219
Persistent link: https://www.econbiz.de/10004857573
Purpose – This paper aims to provide an overview of the market for corporate and sovereign credit default swaps (CDS), with particular focus on Europe. It studies whether the subprime crisis of 2007/2008 and, particularly, the European debt crisis 2009/2010 led to a differential development on...
Persistent link: https://www.econbiz.de/10014901981
Persistent link: https://www.econbiz.de/10004860938
Persistent link: https://www.econbiz.de/10004882732
Generally, information provision and certification have been identified as the major economic functions of rating agencies. This paper analyzes whether the "watchlist" (rating review) instrument has extended the agencies' role towards a monitoring position, as proposed by Boot, Milbourn, and...
Persistent link: https://www.econbiz.de/10003750316
This paper examines the financing structure of small and medium-sized enterprises (SMEs) in Germany and questions whether an equity gap - or, more generally, a financing gap -exists. Reviewing the literature and available data sources, we find that financing constraints seem to affect, if at...
Persistent link: https://www.econbiz.de/10003785483
The issuance of sustainability-linked loans (SLLs) has grown exponentially in recent years. Using a scoring methodology, we examine the underlying key performance indicators of a large sample of SLLs and analyze whether their design creates effective incentives for improving corporate...
Persistent link: https://www.econbiz.de/10013554919
The right to ask questions and voice their opinions at annual general meetings (AGMs) represents one of the few avenues for shareholders to communicate directly and publicly with the firm's management. Examining AGM transcripts of U.S. companies between 2007 and 2021, we find that shareholders...
Persistent link: https://www.econbiz.de/10013555431
This paper examines why unsolicited ratings tend to be lower than solicited ratings. Both self-selection among issuers and strategic conservatism of rating agencies may be reasonable explanations. Analyses of default incidences of non-U.S. borrowers between January 1996 and December 2006 show...
Persistent link: https://www.econbiz.de/10003904071