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

Heinrich Heine University Düsseldorf

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

8 Citations (Scopus)

171 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

Access to Document

10.1016/j.econlet.2014.01.027

HAUCK_2014_cright_EL_Disagreement_between_rating_agencies_and_bond_opacity

Cite this

@article{ccce73e59beb4ac88d7ee49e18aa8a89,

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.",

keywords = "Opaque assets, Ratings, Rating agencies, Rating splits",

author = "Achim Hauck and Ulrike Neyer",

year = "2014",

month = apr,

day = "1",

doi = "10.1016/j.econlet.2014.01.027",

language = "English",

volume = "123",

pages = "82--85",

journal = "Economics Letters",

issn = "0165-1765",

publisher = "Elsevier B.V.",

number = "1",

}

TY - JOUR

T1 - Disagreement between rating agencies and bond opacity

T2 - A theoretical perspective

AU - Hauck, Achim

AU - Neyer, Ulrike

PY - 2014/4/1

Y1 - 2014/4/1

N2 - 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.

AB - 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.

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

M3 - Article

SN - 0165-1765

VL - 123

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

Access to Document

Fingerprint

Cite this