Do personal connections improve sovereign credit ratings?

Klusak, Patrycja, Thornton, John and Uymaz, Yurtsev (2020) Do personal connections improve sovereign credit ratings? Finance Research Letters, 33. ISSN 1544-6123

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Abstract

In a large sample of sovereign debt issues, we show that a personal connection between senior executives in credit rating agencies and leading politicians in the sovereign results in an improved rating. A test on bond yields suggest that the personal connection reflects a favorable treatment of the issuer.

Item Type: Article
Uncontrolled Keywords: information asymmetries,personal connections,sovereign credit ratings,finance ,/dk/atira/pure/subjectarea/asjc/2000/2003
Faculty \ School: Faculty of Social Sciences > Norwich Business School
Related URLs:
Depositing User: LivePure Connector
Date Deposited: 21 May 2019 15:30
Last Modified: 13 Jul 2020 23:53
URI: https://ueaeprints.uea.ac.uk/id/eprint/71087
DOI: 10.1016/j.frl.2019.05.012

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