IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Log in (now much improved!) to save this article

Credit Rating Changes and Subordinated Bond Spread: Evidence from China

Listed author(s):
  • Robin Hang Luo
  • Jiaji Hao

We examine the bond spread reaction to subordinated bond rating changes during the sample period of 2006 to 2011 and find that bond spread reacted positively to downgrades, big in magnitude, but not statistically significant. The bond spread reaction to upgrades, however, was mixed and statistically insignificant, and small in magnitude. We conjecture that the insignificant statistical results regarding the effect of rating changes may be due to the lack of informational content of the ratings assigned to the subordinated bonds by Chinese credit rating agencies (CRAs).

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://www.macrothink.org/journal/index.php/ifb/article/view/7548/6199
Download Restriction: no

File URL: http://www.macrothink.org/journal/index.php/ifb/article/view/7548
Download Restriction: no

Article provided by Macrothink Institute in its journal International Finance and Banking.

Volume (Year): 2 (2015)
Issue (Month): 1 (June)
Pages: 1-14

as
in new window

Handle: RePEc:mth:ifb888:v:2:y:2015:i:1:p:1-14
Contact details of provider: Web page: http://ifb.macrothink.org

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

as
in new window


  1. James W. Wansley & Terrence M. Clauretie, 1985. "The Impact Of Creditwatch Placement On Equity Returns And Bond Prices," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 8(1), pages 31-42, March.
Full references (including those not matched with items on IDEAS)

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:mth:ifb888:v:2:y:2015:i:1:p:1-14. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Technical Support Office)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.