Disagreement between rating agencies and bond opacity: A theoretical perspective

Achim Hauck, Ulrike Neyer

Research output: Contribution to journalArticle

5 Citations (Scopus)
30 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 languageEnglish
Pages (from-to)82-85
Number of pages4
JournalEconomics Letters
Volume123
Issue number1
Early online date1 Feb 2014
DOIs
Publication statusPublished - 1 Apr 2014

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Opacity
Rating agencies
Rating
Bond ratings

Keywords

  • Opaque assets
  • Ratings
  • Rating agencies
  • Rating splits

Cite this

Disagreement between rating agencies and bond opacity : A theoretical perspective. / Hauck, Achim; Neyer, Ulrike.

In: Economics Letters, Vol. 123, No. 1, 01.04.2014, p. 82-85.

Research output: Contribution to journalArticle

Hauck, Achim ; Neyer, Ulrike. / Disagreement between rating agencies and bond opacity : A theoretical perspective. In: Economics Letters. 2014 ; Vol. 123, No. 1. pp. 82-85.
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