Disagreement between rating agencies and bond opacity: A theoretical perspective

Achim Hauck; Ulrike Neyer

doi:10.1016/j.econlet.2014.01.027

Disagreement between rating agencies and bond opacity: A theoretical perspective

Achim Hauck, Ulrike Neyer

School of Economics, Finance and Accounting

Heinrich Heine University Düsseldorf

Research output: Contribution to journal › Article › peer-review

8 Citations (Scopus)

160 Downloads (Pure)

Abstract

In this paper, we explicitly model a bond rating process under varying degrees of bond opacity and derive conditions under which disagreements between rating agencies (rating splits) can serve as a useful proxy for opacity in empirical analyses.

Original language	English
Pages (from-to)	82-85
Number of pages	4
Journal	Economics Letters
Volume	123
Issue number	1
Early online date	1 Feb 2014
DOIs	https://doi.org/10.1016/j.econlet.2014.01.027
Publication status	Published - 1 Apr 2014

Keywords

Opaque assets
Ratings
Rating agencies
Rating splits

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10.1016/j.econlet.2014.01.027

HAUCK_2014_cright_EL_Disagreement_between_rating_agencies_and_bond_opacity

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title = "Disagreement between rating agencies and bond opacity: A theoretical perspective",

abstract = "In this paper, we explicitly model a bond rating process under varying degrees of bond opacity and derive conditions under which disagreements between rating agencies (rating splits) can serve as a useful proxy for opacity in empirical analyses.",

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KW - Opaque assets

KW - Ratings

KW - Rating agencies

KW - Rating splits

U2 - 10.1016/j.econlet.2014.01.027

DO - 10.1016/j.econlet.2014.01.027

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SP - 82

EP - 85

JO - Economics Letters

JF - Economics Letters

IS - 1

ER -

Disagreement between rating agencies and bond opacity: A theoretical perspective

Abstract

Keywords

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