Do personal connections improve sovereign credit ratings?
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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 |
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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: | 15 Dec 2020 00:45 |
URI: | https://ueaeprints.uea.ac.uk/id/eprint/71087 |
DOI: | 10.1016/j.frl.2019.05.012 |
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