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The Impact of Rating Agency Reputation on Local Government Bond Yields

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Listed author(s):
  • Arthur Allen

    ()

  • Donna Dudney

    ()

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    Abstract

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    File URL: http://hdl.handle.net/10.1007/s10693-007-0021-4
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    Article provided by Springer & Western Finance Association in its journal Journal of Financial Services Research.

    Volume (Year): 33 (2008)
    Issue (Month): 1 (February)
    Pages: 57-76

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    Handle: RePEc:kap:jfsres:v:33:y:2008:i:1:p:57-76
    DOI: 10.1007/s10693-007-0021-4
    Contact details of provider: Web page: http://www.springer.com

    Web page: http://westernfinance.org/

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    Order Information: Web: http://www.springer.com/journal/10693

    Keywords: G12; G24; Split ratings; municipal bonds; rating agencies; reputation;

    Find related papers by JEL classification:

    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage

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    1. H. Kent Baker & Sattar A. Mansi, 2002. "Assessing Credit Rating Agencies by Bond Issuers and Institutional Investors," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 29(9&10), pages 1367-1398.
    2. Kish, Richard J. & Hogan, Karen M. & Olson, Gerard, 1999. "Does the market perceive a difference in rating agencies?," The Quarterly Review of Economics and Finance, Elsevier, vol. 39(3), pages 363-377.
    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 457-471, August.
    4. Liu, Pu & Moore, William T, 1987. "The Impact of Split Bond Ratings on Risk Premia," The Financial Review, Eastern Finance Association, vol. 22(1), pages 71-85, February.
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    Cited by:

    1. Seung Han & William Moore & Yoon Shin & Seongbaek Yi, 2013. "Unsolicited Versus Solicited: Credit Ratings and Bond Yields," Journal of Financial Services Research, Springer;Western Finance Association, vol. 43(3), pages 293-319, June.
    2. G. Marandola & R. Mossucca, 2016. "When did the stock market start to react less to downgrades by Moody’s, S&P and Fitch?," Working Papers wp1066, Dipartimento Scienze Economiche, Universita' di Bologna.
    3. Gunter Löffler, 2013. "Can Market Discipline Work in the Case of Rating Agencies? Some Lessons from Moody’s Stock Price," Journal of Financial Services Research, Springer;Western Finance Association, vol. 43(2), pages 149-174, April.

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