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Applied Economics Letters Volume 27, 2020 - Issue 10
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Articles

Revisiting the time-varying credit rating policy: a new test of procyclicality

Daniel HwangSchool of Management, University at Buffalo, Buffalo, NY, USA
&
Yongjun KimCollege of Business Administration, University of Seoul, Seoul, Republic of KoreaCorrespondence[email protected]
ORCID Iconhttps://orcid.org/0000-0001-7615-0847
ORCID Icon
Pages 810-815 | Published online: 12 Aug 2019

References

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  • deHaan, Ed. 2017. “The Financial Crisis and Corporate Credit Ratings”. The Accounting Review 92 (4): 161–189. doi:10.2308/accr-51659.
  • Dilly, M., and T. M¨ahlmann. 2016. “Is There a “boom Bias” in Agency Ratings?” Review of Finance 20 (3): 979–1011. doi:10.1093/rof/rfv023.
  • Fulghieri, P., G. Strobl, and H. Xia. 2014. “The Economics of Solicited and Unsolicited Credit Ratings.” Review of Financial Studies 27 (2): 484–518. doi:10.1093/rfs/hht072.
  • Horrigan, J. O. 1966. “The Determination of Long-Term Credit Standing with Financial Ratios.” Journal of Accounting Research 4: 44–62. doi:10.2307/2490168.
  • Kisgen, D. J. 2006. “Credit Ratings and Capital Structure.” The Journal of Finance 61 (3): 1035–1072. doi:10.1111/j.1540-6261.2006.00866.x.

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