Credit rating and structral capital

... direct effects of credit ratings on capital structure decisions, significant research has been conducted examining how credit ratings affect stock and bond valuations Hand, Holthausen and Leftwich ... with a credit rating in Compustat at the beginning of a particular year The credit rating used is Standard & Poor’s Long-Term Domestic Issuer Credit Rating (Compustat data...

Ngày tải lên: 04/10/2015, 10:15

... exploit rating- based arbitrage between the credit rating of the securities they purchase as assets, and the rating of the liabilities that they issue The credit rating arbitrage is higher when liabilities ... with two snapshots of credit rating at the tranche level,: (i) the rating at the issue date, and (ii) the rating as of January 2008 We measure...

Ngày tải lên: 16/02/2014, 03:20

... credit rating announcements by Moody’s are anticipated by participants in the credit default swap market THE RELATIONSHIP BETWEEN CREDIT DEFAULT SWAP SPREADS, BOND YIELDS, AND CREDIT RATING ANNOUNCEMENTS ... THE RELATIONSHIP BETWEEN CREDIT DEFAULT SWAP SPREADS, BOND YIELDS, AND CREDIT RATING ANNOUNCEMENTS Abstract A company’s...

Ngày tải lên: 16/02/2014, 03:20

Ngày tải lên: 06/03/2014, 04:21

... between credit ratings and capital structure The Credit Ratings and Capital Structure 1055 Table IV Credit Rating Impact on Capital Structure Decisions—POM Coefficients by Year Coefficients and standard ... only and 0.0030 for net equity only, and both are statistically significant at 1% Credit Ratings and Capital Structure 1059 Table V Credit Ratin...

Ngày tải lên: 06/03/2014, 08:20

... REGULATION (EU) No …/… OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL On amending Regulation (EC) No 1060/2009 on credit rating agencies (Text with EEA relevance) THE EUROPEAN PARLIAMENT AND THE COUNCIL ... of the breach, the duration of the breach and the economic capacity of the credit rating agency concerned The a...

Ngày tải lên: 15/03/2014, 07:20

... 1995, Brookings Papers on Economic Activity:1, (Washington: Brookings Institution Setty G and Dodd R (2003) Credit Rating Agencies: Their Impact on Capital Flows to Developing Countries, Financial ... Ital Rating DCR SPA Fitch IBCA Duff and Phelps Credit Rating Agency Dominion Bond Rating Service (DBRS) Canadian Bond Rating Service ( BRS) Table 2: Rating agenc...

Ngày tải lên: 15/03/2014, 07:20

... Sparkassenstiftung für internationale Kooperation “Village Banks (Village Savings and Credit Groups) in Vientiane Capital, Laos” – Roadmap Scenarios for a Sustainable Future by Prof Dr Hans Dieter Seibel ... (savings banks) and development aid In the mid 60s the German Sparkassen-Finanzgruppe (Savings Banks Finance Group) was first approached...

Ngày tải lên: 15/03/2014, 10:20

... Best’s Credit Rating Process – Holding Company Analysis Best’s Credit Rating Methodology 21 Global Life and Non -Life Insurance Edition Key Components of Best’s Credit Rating ... Supervision/Liquidation Best’s Credit Rating Methodology _ Global Life and Non -Life Insurance Edition Short-Term Issuer Credit Ratings and Short-Term Debt Ratin...

Ngày tải lên: 29/03/2014, 06:21

... good predictor of long-run rates of economic growth, capital accumulation and productivity improvements It has been shown elsewhere (Arestis and Demetriades, 1997) that although King and Levine ... Demetriades, O.P and Fattouh, B (2003), “Financial Policies and the Aggregate Productivity of the Capital Stock”, Eastern Economic Journal, 29(2), pp 217-242 Arestis, P., P Demet...

Ngày tải lên: 24/10/2012, 08:50

... Act and the Legislative Reform (Consumer Credit) Order 200815, and the Consumer Credit (Exempt Agreements) Order 200716 Agreements secured on land 3.2 The Act does not regulate: • • 3.3 a regulated ... Section 82(3) EXEMPT AGREEMENTS 3.1 The principal exemptions are set out in section 16 of the Act and the Consumer Credit (Exempt Agreements) Order 1989 as amended (...

Ngày tải lên: 06/09/2013, 05:48

... đến tình hình kinh doanh, tài doanh nghiệp hoạt động Phương pháp xếp hạng tín nhiệm Các hạng Mức Hệ Số Tín Nhiệm công cụ nợ dài hạn Chỉ số Tín Nhiệm theo S&P Chỉ số Tín Nhiệm theo Phân loại Chất ... dự báo hạng mức tín nhiệm, cách dự phòng báo báo cáo tài tương lai xếp hạng lại xây dựng mô hình toán học để dự báo hạng mức tín nhiệm doanh nghiệp...

Ngày tải lên: 15/12/2013, 09:15

... Cadenillas, Abel, Jaksa Cvitanic, and Fernando Zapatero, 2003, Dynamic principal-agent problems with perfect information, Working paper, USC Clementi, Gian Luca, and Hugo A Hopenhayn, 2002, A ... 1998, Agency costs, risk management, and capital structure, Journal of Finance 53, 1213-1243 Leland, Hayne E., and Klaus.B Toft, 1996, Optimal capital structure, endogenous ba...

Ngày tải lên: 12/01/2014, 22:16

... efficient industrial capital accumulation The study owes a great deal to the reflection recently offered by Rajan and Zingales (1999) on the issue of financial development and industrial change ... allocation and asset pricing under incomplete trust In section the model is used to analyze the effect of financial infrastructural development on industrial capital accu...

Ngày tải lên: 27/01/2014, 11:20

... Account and Financial Sector in the early 1990s Liberalization of the Capital Account Liberalization of the Financial System IV Consequences of the Liberalization of the Capital Account and the Financial ... to the Regulatory Regime in the Aftermath of the Liberalization of the Financial System and the Capital Account Financial secto...

Ngày tải lên: 27/01/2014, 11:20