Surveys on the use of agency credit ratings reveal that some investors believe that rating
agencies are relatively slow in adjusting their ratings. A well-accepted explanation for this …

This paper studies the influence of the state of the business cycle on credit ratings. In
particular, we assess whether rating agencies are excessively procyclical in their …

In this topical book, Boudewijn de Bruin examines the ethical'blind spots' that lay at the heart
of the global financial crisis. He argues that the most important moral problem in finance is …

We examine how small and medium‐sized enterprises (SMEs) may signal their quality and
growth orientation to the market and the effect on the cost of bond funding, which is often …

This research investigates the relationships among financial disclosure quality (FDQ),
accounting-based risks (ABRs), sukuk, and bond market. Using three samples of different …

This paper gives an extensive overview on the avenues academic research has taken in
exploring the role of credit ratings. In doing so, it relies on a strict methodological approach …

Well-functioning financial markets are crucial for the economic well-being and the justice of
contemporary societies. The Great Financial Crisis has shown that a perspective that naively …

By employing Moody's corporate default and rating transition data spanning the last 90years
we explore how much capital banks should hold against their corporate loan portfolios to …

The financial systems in most developed countries today build up a large amount of model
risk on a daily basis. However, this is not particularly visible as the financial risk …

This paper investigates factors that can explain the dynamics of yield premia on seasoned
high yield bonds of shipping companies. Our analysis utilises 40 seasoned high yield bonds …