Poon, Winnie P. H.; Firth, Michael - In: Journal of Business Finance & Accounting 32 (2005-11) 9-10, pp. 1741-1771
-step treatment effects model shows that bank size, profitability, asset quality, liquidity, and sovereign credit risk are important …In recent years credit rating agencies have started rating firms who have not asked for a rating. Recipients of … unsolicited ratings argue that the assigned ratings are too low and reflect a lack of comprehensive knowledge of the rated firms …