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InkLocal credit rating agencies: a new dataset

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  • Marandola, Ginevra

Abstract

Local credit rating agencies are an important phenomenon both in emerging and high income economies. There are over 200 local agencies around the world, which provide ratings for small domestic issuers and their securities. This work presents the first comprehensive collection of information and data on local agencies’ global presence, and on Moody’s, S&P and Fitch’s offices and affiliates around the world. The dataset includes agencies operating in over 60 countries between 1970 and 2012, providing the date of incorporation of the agencies and information about mergers and acquisitions. The paper also discusses and shows empirical evidence on the determinants of the presence of local agencies and global agencies’ branches. Local credit rating agencies are particularly widespread in Asia and Latin America, where governments have promoted their activity. On the other hand global agencies often enter the market by acquiring local agencies or starting joint ventures with them.

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  • Marandola, Ginevra, 2016. "InkLocal credit rating agencies: a new dataset," Research in International Business and Finance, Elsevier, vol. 38(C), pages 83-103.
    • Handle: RePEc:eee:riibaf:v:38:y:2016:i:c:p:83-103
    DOI: 10.1016/j.ribaf.2016.03.006
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    Cited by:

    1. Hung, Mingyi & Kraft, Pepa & Wang, Shiheng & Yu, Gwen, 2022. "Market power and credit rating standards: Global evidence," Journal of Accounting and Economics, Elsevier, vol. 73(2).
    2. Wei Tian & Xiangyun Zhou & Yixiang Tian & Wei Meng, 2020. "Short-term competition and long-term convergence between domestic and global rating agencies: Evidence from China," PLOS ONE, Public Library of Science, vol. 15(5), pages 1-15, May.

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    More about this item

    Keywords

    Credit rating agencies; Financial regulation;

    JEL classification:

    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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