LEADER 04764nam 22009015 450 001 9910258355303321 005 20200629233535.0 010 $a1-137-39151-0 010 $a1-137-39150-2 024 7 $a10.1057/9781137391506 035 $a(CKB)3710000000607550 035 $a(SSID)ssj0001691670 035 $a(PQKBManifestationID)16539331 035 $a(PQKBTitleCode)TC0001691670 035 $a(PQKBWorkID)15043362 035 $a(PQKB)25078954 035 $a(DE-He213)978-1-137-39150-6 035 $a(MiAaPQ)EBC4947483 035 $a(MiAaPQ)EBC4965050 035 $a(Au-PeEL)EBL4965050 035 $a(CaONFJC)MIL877058 035 $a(OCoLC)1027132354 035 $a(PPN)203854047 035 $a(EXLCZ)993710000000607550 100 $a20170815d2016 u| 0 101 0 $aeng 135 $aurnn|008mamaa 181 $ctxt 182 $cc 183 $acr 200 10$aSovereign Debt and Rating Agency Bias$b[electronic resource] /$fby D. Tennant, M. Tracey 205 $a1st ed. 2016. 210 1$aNew York :$cPalgrave Macmillan US :$cImprint: Palgrave Pivot,$d2016. 215 $a1 online resource (150 p.) 225 1 $aPalgrave pivot 300 $aBibliographic Level Mode of Issuance: Monograph 311 $a1-349-67954-2 311 $a1-137-39710-1 320 $aIncludes bibliographical references and index. 327 $aCover -- 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. 330 $aSovereign Debt and Credit Rating Bias rejects the notion that credit rating agencies' rigorous and transparent determination of ratings leaves no room for bias, and debunks the myth that the value CRAs place on their reputational capital precludes prolonged biases. To determine the extent of CRAs' biased actions, Tennant and Tracey apply a rigorous methodology to a well-established economic model of the determinants of sovereign debt quality. They present strong evidence of bias against poor countries and demonstrate how biased rating changes could disadvantage such countries and the companies operating therein as they seek access to international capital markets. They discuss plausible explanations for the bias and suggest remedial measures that would help ensure balance in credit rating changes. This book fills an important gap by rigorously examining a long-standing but often ignored concern about the rating practices of credit rating agencies. 410 0$aPalgrave pivot. 606 $aRisk management 606 $aBanks and banking 606 $aFinance, Public 606 $aBusiness enterprises?Finance 606 $aAccounting 606 $aBookkeeping  606 $aDevelopment economics 606 $aRisk Management$3https://scigraph.springernature.com/ontologies/product-market-codes/612040 606 $aBanking$3https://scigraph.springernature.com/ontologies/product-market-codes/626010 606 $aPublic Finance$3https://scigraph.springernature.com/ontologies/product-market-codes/611000 606 $aBusiness Finance$3https://scigraph.springernature.com/ontologies/product-market-codes/512000 606 $aAccounting/Auditing$3https://scigraph.springernature.com/ontologies/product-market-codes/511000 606 $aDevelopment Economics$3https://scigraph.springernature.com/ontologies/product-market-codes/W42000 615 0$aRisk management. 615 0$aBanks and banking. 615 0$aFinance, Public. 615 0$aBusiness enterprises?Finance. 615 0$aAccounting. 615 0$aBookkeeping . 615 0$aDevelopment economics. 615 14$aRisk Management. 615 24$aBanking. 615 24$aPublic Finance. 615 24$aBusiness Finance. 615 24$aAccounting/Auditing. 615 24$aDevelopment Economics. 676 $a336.34 700 $aTennant$b D$4aut$4http://id.loc.gov/vocabulary/relators/aut$0987264 702 $aTracey$b M$4aut$4http://id.loc.gov/vocabulary/relators/aut 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910258355303321 996 $aSovereign Debt and Rating Agency Bias$92256431 997 $aUNINA