Poon, Winnie P. H.; Chan, Kam C. - Asian Development Bank Institute, Asian Development Bank - 2010
We conducted a global study of the long-term issuer ratings of nonfinancial firms from Standard and Poor's Ratings Services (S&P) for the period 1998–2003. Specifically, we focused on the solicited versus unsolicited ratings and sample-selection bias in the analysis. Unlike the literature, we...