Ismail, Ashraf; Oh, Seunghack; Arsyad, Nuruzzaman - In: Review of Financial Economics 24 (2015) C, pp. 36-41
magnitude of split ratings across countries. We finally test for the existence of an optimal debt-signal, which implies that … the ratings split. Our results suggest that firms in emerging markets can use the debt-signal up to a maximal point, after …
