Are All Rivals Affected Equally by Bond Rating Downgrades?

Are All Rivals Affected Equally by Bond Rating Downgrades?

We use revisions in analysts' earnings forecasts to examine how the bad news associated with a bond rating downgrade gets transferred from the downgraded company to its rivals. In general, we find that stock analysts revise their earnings expectations downward for rivals of companies with downg...

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Bibliographic Details
Main Authors: CATON, Gary L., GOH, Jeremy
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2003
Subjects:
bond-ratings
intra-industry effects
Finance and Financial Management
Portfolio and Security Analysis
Online Access:https://ink.library.smu.edu.sg/lkcsb_research/2206
https://ink.library.smu.edu.sg/context/lkcsb_research/article/3205/viewcontent/AreAllRivalsAffectedEqually_Caton_Goh_2003_av.pdf
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Institution: Singapore Management University
Language: English

Internet

https://ink.library.smu.edu.sg/lkcsb_research/2206
https://ink.library.smu.edu.sg/context/lkcsb_research/article/3205/viewcontent/AreAllRivalsAffectedEqually_Caton_Goh_2003_av.pdf

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