Standard explanatory variables that determine credit ratings do not achieve significant effects in a sample of 100 US …-established macroeconomic effects of credit ratings found by Blume et al. (1998) and highlights the influence of the rating agencies' through …

We report on the current state and important older findings of empirical studies on corporate credit ratings and their … relationship to ratings of other entities. Specifically, we consider the results of three lines of research: The correlation of … credit ratings and corporate default, the influence of ratings on capital markets, and the determinants of credit ratings and …

the assignment of sovereign credit ratings, using the Eurozone sovereign debt crisis of 2009-2012 as a natural laboratory … two more US-tied peers, assigned on average more favourable ratings to Eurozone issuers during the crisis. However, Fitch …'s better ratings for Eurozone issuers seem to be neglected by investors as they rather follow the rating actions of Moody's and …

We analyze a rating agency's incentives to distort ratings in a model with a monopolistic profit maximizing rating …

threatened by tighter regulations, they have felt incentives to improve the quality and timeliness of their ratings. However …

sovereign ratings and government bond yields. While the individual equations resemble Pesaran-type cointegration models, we … allow for different long-run relationships in both equations, nonlinearities in the level effect of ratings, and asymmetric … effects in changes of ratings and yields. We find that the interest rate equation and the rating equation imply significantly …