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Should more local governments purchase a bond rating?

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  • Arthur Allen

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  • George Sanders

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  • Donna Dudney

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    Abstract

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    File URL: http://hdl.handle.net/10.1007/s11156-008-0095-6
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    Bibliographic Info

    Article provided by Springer in its journal Review of Quantitative Finance and Accounting.

    Volume (Year): 32 (2009)
    Issue (Month): 4 (May)
    Pages: 421-438

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    Handle: RePEc:kap:rqfnac:v:32:y:2009:i:4:p:421-438

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    Web page: http://springerlink.metapress.com/link.asp?id=102990

    Related research

    Keywords: Ratings; Municipal bonds; Selection bias; G12; G24; H74;

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    References

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    1. Ingram, Robert W & Brooks, Leroy D & Copeland, Ronald M, 1983. " The Information Content of Municipal Bond Rating Changes: A Note," Journal of Finance, American Finance Association, vol. 38(3), pages 997-1003, June.
    2. Heckman, James, 2013. "Sample selection bias as a specification error," Applied Econometrics, Publishing House "SINERGIA PRESS", vol. 31(3), pages 129-137.
    3. Thompson, G Rodney & Vaz, Peter, 1990. "Dual Bond Ratings: A Test of the Certification Function of Rating Agencies," The Financial Review, Eastern Finance Association, vol. 25(3), pages 457-71, August.
    4. Cantor, Richard & Packer, Frank, 1997. "Differences of opinion and selection bias in the credit rating industry," Journal of Banking & Finance, Elsevier, vol. 21(10), pages 1395-1417, October.
    5. Lovely, Mary E. & Wasylenko, Michael J., 1992. "State Taxation of Interest Income and Municipal Borrowing Costs," National Tax Journal, National Tax Association, vol. 45(1), pages 37-52, March.
    6. moon, Choon-Geol & Stotsky, Janet G., 1993. "Municipal bond rating analysis : Sample selectivity and simultaneous equations bias," Regional Science and Urban Economics, Elsevier, vol. 23(1), pages 29-50, March.
    7. Reeve, James M. & Herring, Hartwell C., 1986. "An examination of nonrated municipal bonds," Journal of Economics and Business, Elsevier, vol. 38(1), pages 65-76, February.
    8. Roden, Peyton Foster & Bassler, John, 1996. "Effect of Underwriter Prestige on the Interest Cost of Municipal Bond Offerings," The Financial Review, Eastern Finance Association, vol. 31(3), pages 641-66, August.
    9. Loviscek, Anthony L & Crowley, Frederick D, 1990. "What Is in a Municipal Bond Rating?," The Financial Review, Eastern Finance Association, vol. 25(1), pages 25-53, February.
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