576
Views
18
CrossRef citations to date
0
Altmetric
Article

Are Credit Ratings Relevant in China’s Corporate Bond Market?

&

References

  • Allen, A.C., and D.M. Dudney. 2008. The impact of rating agency reputation on local government bond yields. Journal of Financial Services Research 33: 57–76.
  • Altman, E.I. 1968. Financial ratios, discriminant analysis, and the prediction of corporate bankruptcy. Journal of Finance 23: 589–609.
  • Bierman Jr., H., and J.E. Hass. 1975. Analytical model of bond risk differentials. Journal of Financial and Quantitative Analysis 10: 757–773.
  • Campbell, T.S. 1980. On the extent of segmentation in the municipal securities market. Journal of Money, Credit, and Banking 12: 71–83.
  • Cantor, R., and F. Packer. 1995. The credit rating industry. Journal of Fixed Income 5, no. 3: 10–34.
  • ———. 1997. Differences of opinion and selection bias in the credit rating industry. Journal of Banking and Finance 21: 1395–1417.
  • Ederington, L.H. 1986. Why split ratings occur. Financial Management 15: 37–47.
  • Elton, E.J.; M.J. Gruber; D. Agrawal; and C. Mann. 2001. Explaining the rate spreads on corporate bonds. Journal of Finance 56: 247–277.
  • Fisher, L. 1959. Determinants of risk premiums on corporate bonds. Journal of Political Economy 67: 217–237.
  • Fung, W.K.H., and A. Rudd. 1986. Pricing new corporate bonds issues: An analysis of issue cost and seasoning effects. Journal of Finance 41: 633–643.
  • Helwege, J., and C.M. Turner. 1999. The slope of the credit yield curve for speculative-grade issuers. Journal of Finance 54: 1869–1884.
  • Hickman, W.B. 1958. Corporate bond quality and investor experience. Princeton: Princeton University Press.
  • Horrigan, J.O. 1966. Determination of long-term credit standing with financial ratios. Journal of Accounting Research 4: 44–62.
  • Jewell, J., and M. Livingston. 1998. Split ratings, bond yields, and underwriter spreads. Journal of Financial Research 21: 185–204.
  • Kao, C., and C. Wu. 1990. Two-step estimation of linear-models with ordinal unobserved variables: The case of corporate bonds. Journal of Business and Economic Statistics 8: 317–325.
  • Kaplan, R.S., and G. Urwitz. 1979. Statistical models of bond ratings: A methodological inquiry. Journal of Business 52: 231–261.
  • Kennedy, S. 2008. China’s emerging credit rating industry: The official foundations of private authority. China Quarterly 193: 65–83.
  • Kidwell, D.S.; M.W. Marr; and G.R. Thompson. 1985. Eurodollar bonds: Alternative financing for U.S. companies. Financial Management 14: 18–27.
  • Lamy, R.E., and G.R. Thompson. 1988. Risk premia and the pricing of primary bond issues. Journal of Banking and Finance 12: 585–601.
  • Liu, P., and A.V. Thakor. 1984. Interest yields, credit ratings, and economic characteristics of state bonds: An empirical analysis. Journal of Money, Credit, and Banking 16: 344–351.
  • Pogue, T.F., and R.M. Soldofsky. 1969. What’s in a bond rating? Journal of Financial and Quantitative Analysis 4: 201–228.
  • Poon, W., and K. Chan. 2008a. An empirical examination of the informational content of credit ratings in China. Journal of Business Research 61: 790–797.
  • ———. 2008b. The effects of credit ratings on stock returns in China. Chinese Economy 41, no. 2: 34–55.
  • Qing, W. 2002. When will the credit rating industry proudly hold its head up? China Business Times September 2 (article and publication title translated).
  • West, R.R. 1973. Bond ratings, bond yields and financial regulation: Some findings. Journal of Law and Economics 16: 159–168.

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.