After the crisis of 2008, and the important losses and shortfall in capital that it revealed, regulators conducted massive stress testing exercises in order to test the resilience of financial institutions in times of stress conditions. In this context, and considering the impact of these...

After the crisis of 2008, new regulatory requirements have emerged with supervisors strengthening their position in terms of requirements to meet IRBA standards. Low Default Portfolios (LDP) present specific characteristics that raise challenges for banks when building and implementing credit...

Investors are being encouraged after the global crisis to reduce their dependence on the largest credit rating agencies for risk assessments of companies and securities. Comparing risk assessments from different sources rapidly becomes non-trivial when more than three credit rating agencies are...

Some scholars have suggested that offering a middle alternative on a rating scale is necessary to measure opinions accurately, whereas other scholars have suggested that middle alternatives offer "easy outs" to respondents who want to avoid taking sides on an issue. In this paper, we evaluate...

Valuation studies have favoured standard gamble (SG) and time trade off techniques (TTO) over visual analogue scales (VAS). The lack of observable trade off properties of VAS precludes preferences being measured on a cardinal scale. The inferences, and indeed the premise, of many perceived VAS...

Investors are being encouraged after the global crisis to reduce their dependence on the largest credit rating agencies for risk assessments of companies and securities. Comparing risk assessments from different sources rapidly becomes non-trivial when more than three credit rating agencies are...