Effect of Credit Ratings on Airport Financing and Management

Effect of Credit Ratings on Airport Financing and Management

This paper analyzes the effect of airport ownership structure on management efficiency as reflected through their credit ratings. A game-theoretical model is proposed to examine the role of credit ratings in mitigating the moral hazard problem of public-owned airports. The analytical results derived...

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Bibliographic Details
Main Authors: KATO, Kazusei, TEZUKA, Koichiro, LOW, Joyce M. W.
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2010
Subjects:
Airport
Ownership
Revenue Bond
Credit Rating
Incentive Contract
Moral hazard
Hidden Action
Management Efficiency
Operations and Supply Chain Management
Transportation
Online Access:https://ink.library.smu.edu.sg/lkcsb_research/3265
https://ink.library.smu.edu.sg/context/lkcsb_research/article/4264/viewcontent/02185.pdf
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Institution: Singapore Management University
Language: English

Internet

https://ink.library.smu.edu.sg/lkcsb_research/3265
https://ink.library.smu.edu.sg/context/lkcsb_research/article/4264/viewcontent/02185.pdf

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