The shift in the ideological winds toward a" free-market" economy has brought profound
effects in urban areas. The Neoliberal City presents an overview of the effect of these …

This paper examines the determinants of external credit ratings attained by insurance firms
in the United Kingdom (UK) and of the likelihood that insurers will have such an assessment …

This paper will explore how the financial regulatory structure propelled three credit rating
agencies—Moody's, Standard & Poor's (S&P), and Fitch—to the center of the US bond …

Credit rating agencies (CRAs) play a central role in the debt (bond) markets of many
countries. CRAs have also attracted a considerable amount of public and policy attention …

Listen to a short interview with Rawi AbdelalHost: Chris Gondek| Producer: Heron & Crane
The rise of global financial markets in the last decades of the twentieth century was …

In this survey we provide an overview of the subprime mortgage securitization process and
the seven key informational frictions which arise. We discuss how market participants work …

This paper examines whether firms that deviate from an empirically modeled (“expected”)
credit rating engage in earnings management activities, as measured by abnormal accruals …

This paper presents a new approach to modeling conditional credit loss distributions. Asset
value changes of firms in a credit portfolio are linked to a dynamic global macroeconometric …

I exploit Moody's 1982 credit rating refinement to examine its effects on firms' credit market
access, financing decisions, and investment policies. While firms' ex ante yield spread can …

Many regulations use private sector credit ratings to determine investment prohibitions and
capital requirements for institutional portfolio investments. These regulations implicitly …