Information content of unsolicited credit rating changes.

• Main Authors: Hong, Junming., Suk, Jack., Lim, Qingzhong.
• Other Authors: Tan, Kok Hui
• Format: Final Year Project
• Published: 2008
• Subjects: DRNTU::Business::Finance
• Online Access: http://hdl.handle.net/10356/10481
• Institution: Nanyang Technological University

This paper examines the informational content of rating changes in the Japanese market by analyzing stock price reactions before, during, and after announcements of unsolicited rating changes by Standard and Poor’s (S&P). Data from 1996 to 2005 are examined, and findings in this paper suggest th...