IDEAS home Printed from https://ideas.repec.org/p/hal/journl/halshs-00809462.html
   My bibliography  Save this paper

Les effets de la notation financière sur les stratégies d'internationalisation des firmes multinationales européennes

Author

Listed:
  • Francois Lantin

    (Laboratoire de Recherche Magellan - UJML - Université Jean Moulin - Lyon 3 - Université de Lyon - Institut d'Administration des Entreprises (IAE) - Lyon)

Abstract

Firms have to manage their debt level, which are revealed by their credit rating, if they want to pursue an internationalization strategy. These companies need to manage their debt level in order to maintain their rating. The analysis of 402 rating changes announced by Standard and Poor's for 182 European multinational companies reveals on average an asymmetric reaction of the stock market: a decrease in stock prices following downgrades but no reaction following upgrades. However, individual reactions are strongly negative in half the downgrade cases and null or positive for the other half. Results are symmetric for upgrades.

Suggested Citation

  • Francois Lantin, 2012. "Les effets de la notation financière sur les stratégies d'internationalisation des firmes multinationales européennes," Post-Print halshs-00809462, HAL.
    • Handle: RePEc:hal:journl:halshs-00809462
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hal:journl:halshs-00809462. See general information about how to correct material in RePEc.

    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.

    We have no bibliographic references for this item. You can help adding them by using 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: CCSD (email available below). General contact details of provider: https://hal.archives-ouvertes.fr/ .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.