04764nam 22009015 450 991025835530332120200629233535.01-137-39151-01-137-39150-210.1057/9781137391506(CKB)3710000000607550(SSID)ssj0001691670(PQKBManifestationID)16539331(PQKBTitleCode)TC0001691670(PQKBWorkID)15043362(PQKB)25078954(DE-He213)978-1-137-39150-6(MiAaPQ)EBC4947483(MiAaPQ)EBC4965050(Au-PeEL)EBL4965050(CaONFJC)MIL877058(OCoLC)1027132354(PPN)203854047(EXLCZ)99371000000060755020170815d2016 u| 0engurnn|008mamaatxtccrSovereign Debt and Rating Agency Bias[electronic resource] /by D. Tennant, M. Tracey1st ed. 2016.New York :Palgrave Macmillan US :Imprint: Palgrave Pivot,2016.1 online resource (150 p.) Palgrave pivotBibliographic Level Mode of Issuance: Monograph1-349-67954-2 1-137-39710-1 Includes bibliographical references and index.Cover -- Half-Title -- Title -- Copyright -- Dedication -- Contents -- List of Figures -- List of Tables -- Acknowledgments -- 1 Credit Rating Agencies as Gatekeepers -- 2 Establishing the Determinants of Sovereign Debt Ratings: Is There Really Room for Bias? -- 3 Resilience in Spite of Controversy: Conditions for Bias in the Credit Rating Industry -- 4 Trends in Sovereign Debt Ratings: Are There any Preliminary Signs of Bias? -- 5 Introducing Greater Rigor-Methodological Approach -- 6 Are Poorer Countries Disadvantaged by the CRAs? Empirically Establishing a Bias -- 7 Now That We Have Found Bias, What Are We Going to Do with It? -- References -- Index.Sovereign Debt and Credit Rating Bias rejects the notion that credit rating agencies' rigorous and transparent determination of ratings leaves no room for bias, and debunks the myth that the value CRAs place on their reputational capital precludes prolonged biases. To determine the extent of CRAs' biased actions, Tennant and Tracey apply a rigorous methodology to a well-established economic model of the determinants of sovereign debt quality. They present strong evidence of bias against poor countries and demonstrate how biased rating changes could disadvantage such countries and the companies operating therein as they seek access to international capital markets. They discuss plausible explanations for the bias and suggest remedial measures that would help ensure balance in credit rating changes. This book fills an important gap by rigorously examining a long-standing but often ignored concern about the rating practices of credit rating agencies.Palgrave pivot.Risk managementBanks and bankingFinance, PublicBusiness enterprises—FinanceAccountingBookkeeping Development economicsRisk Managementhttps://scigraph.springernature.com/ontologies/product-market-codes/612040Bankinghttps://scigraph.springernature.com/ontologies/product-market-codes/626010Public Financehttps://scigraph.springernature.com/ontologies/product-market-codes/611000Business Financehttps://scigraph.springernature.com/ontologies/product-market-codes/512000Accounting/Auditinghttps://scigraph.springernature.com/ontologies/product-market-codes/511000Development Economicshttps://scigraph.springernature.com/ontologies/product-market-codes/W42000Risk management.Banks and banking.Finance, Public.Business enterprises—Finance.Accounting.Bookkeeping .Development economics.Risk Management.Banking.Public Finance.Business Finance.Accounting/Auditing.Development Economics.336.34Tennant Dauthttp://id.loc.gov/vocabulary/relators/aut987264Tracey Mauthttp://id.loc.gov/vocabulary/relators/autMiAaPQMiAaPQMiAaPQBOOK9910258355303321Sovereign Debt and Rating Agency Bias2256431UNINA