The economic literature analyzing credit risk has been one of the most dynamic areas of recent financial academic studies and within this broader area of research, a body of literature investigates the roles, procedures and influence of credit ratings and rating agencies. In the aftermath of the financial crisis that began in 2007, in fact, a growing interest has arisen about credit rating issues. In this paper, I present a systematization of the academic contributions on credit ratings and credit rating agencies, with a focus on selected academic papers published in leading journals of business and finance. This paper has the intended aim of capturing the principal inquires and the specific findings of the related literature. Finally, I discuss the results and point out potential avenues for future researches.
Credit rating agencies: recent academic studies and key practical implications
Cafarelli, Alessandro
2018
Abstract
The economic literature analyzing credit risk has been one of the most dynamic areas of recent financial academic studies and within this broader area of research, a body of literature investigates the roles, procedures and influence of credit ratings and rating agencies. In the aftermath of the financial crisis that began in 2007, in fact, a growing interest has arisen about credit rating issues. In this paper, I present a systematization of the academic contributions on credit ratings and credit rating agencies, with a focus on selected academic papers published in leading journals of business and finance. This paper has the intended aim of capturing the principal inquires and the specific findings of the related literature. Finally, I discuss the results and point out potential avenues for future researches.File | Dimensione | Formato | |
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