Konkurencyjność agencji ratingowych

Patrycja Chodnicka-Jaworska

Published : 2017-04-30

Vol. 73 No. 2 (2017)

Competition among Credit Rating Agencies

Patrycja Chodnicka-Jaworska

Abstract

The aim of the paper is to analyze the credit rating agencies (CRA) market, bringing out the unique characteristics of the agencies' activity, and to outline the major trends observable in the European market. The paper sets out from a literature review, to proceed to a discussion of the effects that changes in credit rating have on the financial market. Based on 2009-2015 data on the credit rating agencies market supplied by the European Commission, a hypothesis is put forth that increased competition in the CRA market is contingent on issuers' interest in credit ratings awarded by the agencies. The hypothesis is validated by examining a body of relevant source data and through a comparative study of the European and American markets.(original abstract)

Keywords:

Rating agency, Rating, Competition, Market risk

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Chodnicka-Jaworska, P. (2017). Competition among Credit Rating Agencies. Zeszyty Naukowe Wyższej Szkoły Bankowej W Poznaniu, 73(2). Retrieved from https://journals.wsb.poznan.pl/index.php/znwsb/article/view/831

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References

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