Sökning: "credit rating announcements"

Visar resultat 6 - 10 av 22 uppsatser innehållade orden credit rating announcements.

1. 6. Altman versus Merton - Are corporate credit rating changes new information?

   Magister-uppsats, Lunds universitet/Företagsekonomiska institutionen

   Författare :Anton Andersson; Joakim Brunnhage; [2016]
   Nyckelord :Credit ratings; Credit rating changes; Merton model; Altman Z-score; Business and Economics;

   Sammanfattning : With the relative performance between accounting-based and option-based approaches for default prediction being a key subject in previous research, combined with criticism against the rating agencies’ timeliness in assigning credit ratings, surprisingly few attempts have been made to investigate the models’ usefulness in predicting corporate credit ratings. This thesis is the first to investigate the Merton and Altman’s Z-score models’ relative performance in predicting future credit rating changes. LÄS MER

3. 7. The effect of credit rating announcements in the Nordic stock market

   Magister-uppsats, Lunds universitet/Nationalekonomiska institutionen

   Författare :Ingibjörg Magnúsdóttir; Lisbet Randefelt; [2016]
   Nyckelord :Nordic countries; credit rating agencies; abnormal returns; event study.; Business and Economics;

   Sammanfattning : Credit rating agencies’ influence on capital markets has been a highly debated topic in the last decades, as their power and impact have not been established with clarity. Different characteristics have been found especially between larger and smaller markets, which makes it interesting to investigate how the Nordic market as a smaller market reacts to credit changes. LÄS MER

4. 8. Credit Rating Changes and Post-M&A Firm Value: Assessing the importance of credit ratings changes as a motive for successful M&A

   Magister-uppsats, Lunds universitet/Företagsekonomiska institutionen

   Författare :Cameron Andrews; Emiliano Varrasi; [2015]
   Nyckelord :Credit Rating; Credit Rating Agency; Mergers Acquisitions; Firm Value; Event Study; Long Term Operating Performance; M A; Credit Rating Change; Business and Economics;

   Sammanfattning : This research shows the impact of credit rating change (thereafter CRC) announcements on the combined entities following mergers and acquisitions. In looking at the effect of CRC announcements on share prices, we measure the level of influence that a credit upgrade or downgrade has on the equity value of firms. LÄS MER

5. 9. Post- Credit Announcement Drift- An Empirical Assessment of Credit Rating Announcements and Their Influence on the US Equity Market

   D-uppsats, Handelshögskolan i Stockholm/Institutionen för redovisning och finansiering

   Författare :Ebba Lilliehöök; Oliver Peldius; [2015]
   Nyckelord :Post-Credit Announcement Drift; Market Efficiency; Abnormal Returns; Credit Rating Changes; Credit Rating Agencies;

   Sammanfattning : The aim of this study is twofold; (i) to investigate whether credit rating announcements result in a drift in stock prices on the US equity market and, if proven, (ii) how the drift is affected by firm size and the presence of extreme credit rating announcements. Using a sample of 2 922 credit rating announcements, this study examines the long-run stock performance subsequent to credit rating announcements, i. LÄS MER

7. 10. Market Reaction to Seasoned Equity Offerings by European Banks during the Recent Financial Crisis

   D-uppsats, Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

   Författare :Pierdomenico Polito; Jannes Pietschmann; [2015]
   Nyckelord :European banks; Capital ratio; Crisis; Seasoned equity offerings;

   Sammanfattning : This thesis attempts to assess the short-term costs of raising new equity for European banks during the recent crisis. We analyze the effect of seasoned equity offerings (SEOs) on stock prices and CDS spreads, using an event study methodology. LÄS MER