Are bond ratings informative? Evidence from regulatory regime changes
The recent Dodd-Frank Act (Section 939B) enacted in 2010 repeals credit rating agencies’ (CRAs) exemption from Regulation Fair Disclosure. We test whether CRAs continue to provide new information to the market after the repeal. We find that the significant pre-repeal stock price responses to rating...
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| Main Authors: | , , , |
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| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
2018
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/lkcsb_research/5921 https://ink.library.smu.edu.sg/context/lkcsb_research/article/6920/viewcontent/Are_Bond_Rating_Informative_2018_wp.pdf |
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| Institution: | Singapore Management University |
| Language: | English |