Körner, Finn Marten; Fieberg, Christian; Varmaz, Armin; … - ZenTra - Center for Transnational Studies - 2013
We study the information content of about 3,300 global bank rating changes before and after the Lehman shock in September 2008 from an equity investor's perspective. Based on a multi-model event study approach, we find that while upgrades are not associated with significant abnormal bank stock...