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2020 | OriginalPaper | Buchkapitel

Structure Evolvement and Equilibrium Analysis of International Credit Rating Market

verfasst von : Huang Xuewei, Wang Jianling

Erschienen in: Smart Service Systems, Operations Management, and Analytics

Verlag: Springer International Publishing

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Abstract

The purposes of this paper are (1) to introduce the process of structure evolvement of international credit rating market in chronological order, (2) to analyze S and P, Moody’s, and Fitch’s rating patterns and rating services, and (3) based on the content stated before, to conclude the characteristics of the evolvement of international credit rating market and analyze the cause of them. By using correlation analysis and statistical analysis we emphasized on doing research on the ratings released by S and P, Moody’s, and Fitch (the Big Three) in 5 rating categories, financial institutions, insurance companies, corporate bonds, asset-backed securities, and government securities and gave our own opinion for causes of the current monopoly by the Big Three in credit rating market.7.

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Literatur
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Zurück zum Zitat R Zhang, Functional Disorder and Reform of Credit Ratings Mechanism, China Money, No. 7, pp. 20–25 (2010). 张锐: “国际信用评级机构的功能扭曲与改革前景”, 中国货币市场, No. 7, pp. 20–25 (2010) R Zhang, Functional Disorder and Reform of Credit Ratings Mechanism, China Money, No. 7, pp. 20–25 (2010). 张锐: “国际信用评级机构的功能扭曲与改革前景”, 中国货币市场, No. 7, pp. 20–25 (2010)
2.
Zurück zum Zitat Y. Jin, Break the Monopoly Pattern. China Urban Finance, No. 10, pp. 14–17 (2010). 金言: “打破垄断格局创建信用评级新秩序——国际信用评级体系改革与中国评级业发展展望”, 中国城市金融, No. 10, pp. 14–17 (2010) Y. Jin, Break the Monopoly Pattern. China Urban Finance, No. 10, pp. 14–17 (2010). 金言: “打破垄断格局创建信用评级新秩序——国际信用评级体系改革与中国评级业发展展望”, 中国城市金融, No. 10, pp. 14–17 (2010)
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Zurück zum Zitat K. Boehm, Credit rating agencies: The EU regulatory framework assessment. Bachelor of business administration international business and logistics thesis, Helsinki Metropolita University of Applied Science, May 2013 K. Boehm, Credit rating agencies: The EU regulatory framework assessment. Bachelor of business administration international business and logistics thesis, Helsinki Metropolita University of Applied Science, May 2013
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Zurück zum Zitat V. Ivashina, B. Becker, Cyclicality of Credit Supply: Firm Level Evidence (Harvard Business School Finance Working Paper, 2011), pp. 10–107 V. Ivashina, B. Becker, Cyclicality of Credit Supply: Firm Level Evidence (Harvard Business School Finance Working Paper, 2011), pp. 10–107
6.
Zurück zum Zitat P. Bolton, X. Freixas, J. Shapiro, The credit ratings game. J. Financ. 67(1), 85–111 (2012)CrossRef P. Bolton, X. Freixas, J. Shapiro, The credit ratings game. J. Financ. 67(1), 85–111 (2012)CrossRef
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Zurück zum Zitat B. Becker, T. Milbourn, Reputation and Competition: Evidence from the Credit Rating Industry (Harvard Business School, 2008) B. Becker, T. Milbourn, Reputation and Competition: Evidence from the Credit Rating Industry (Harvard Business School, 2008)
Metadaten
Titel
Structure Evolvement and Equilibrium Analysis of International Credit Rating Market
verfasst von
Huang Xuewei
Wang Jianling
Copyright-Jahr
2020
DOI
https://doi.org/10.1007/978-3-030-30967-1_28

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