Independence of Credit Rating Agencies

Erscheinungsjahr 2013
ISBN: 978-0-12-404569-9
Verlag: ACADEMIC PRESS

Buch, Englisch, 200 Seiten, Format (B × H): 156 mm x 236 mm, Gewicht: 452 g

The Independence of Credit Rating Agencies focuses on the institutional and regulatory dynamics of these agencies, asking whether their business models give them enough independence to make viable judgments without risking their own profitability.

Few have closely examined the analytical methods of credit rating agencies, even though their decisions can move markets, open or close the doors to capital, and bring down governments. The 2008 financial crisis highlighted their importance and their shortcomings, especially when they misjudged the structured financial products that precipitated the collapse of Bear Stearns and other companies.

This book examines the roles played by rating agencies during the financial crisis, illuminating the differences between U.S. and European rating markets, and also considers subjects such as the history of rating agencies and the roles played by smaller agencies to present a well-rounded portrait.

Zielgruppe

Upper-division undergraduates and graduate students worldwide studying financial institutions, mergers & acquisitions, international finance, and money & banking. Professionals worldwide working in these areas

Autoren/Hrsg.

Mattarocci, Gianluca

Fachgebiete

• Wirtschaftswissenschaften Volkswirtschaftslehre Internationale Wirtschaft Internationale Finanzmärkte
• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Bankwirtschaft
• Wirtschaftswissenschaften Betriebswirtschaft Unternehmensfinanzen Rating, Due Diligence, Unternehmensbewertung
• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Finanzsektor & Finanzdienstleistungen: Allgemeines
• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Internationale Finanzmärkte

Inhaltsverzeichnis

Introduction

1. Rating agencies and the rating service

2. Rating and financial markets

3. The rating market

4. Economic and financial equilibrium of rating agencies

5. Rating agencies' pricing policies

6. Organizational structure and rating agency independence

7. The economic independence of rating agencies

Über Autor(innen)

Mattarocci, Gianluca
Winner of multiple research awards for his investigations in banking and finance, Gianluca Mattrrocci has published on subjects as diverse as real estate finance, bibliometrics, and hedge funds. His work on rating agencies derives from his investigations of the Italian banking industry and their portfolios.