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Asset Opaqueness and Split Bond Ratings

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  • Miles Livingston
  • Andy Naranjo
  • Lei Zhou

Abstract

We examine the relation between asset opaqueness and split ratings. We find that firms with asset opaqueness problems are more likely to receive split bond ratings from Moody s and S&P rating agencies. Our results suggest that there is a causal link between asset opaqueness and split ratings.

Suggested Citation

  • Miles Livingston & Andy Naranjo & Lei Zhou, 2007. "Asset Opaqueness and Split Bond Ratings," Financial Management, Financial Management Association International, vol. 36(3), pages 49-62, September.
    • Handle: RePEc:bla:finmgt:v:36:y:2007:i:3:p:49-62
    DOI: 10.1111/j.1755-053X.2007.tb00080.x
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    References listed on IDEAS

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