We investigate how shocks to the reputation of credit rating agencies and the subsequent
introduction of stricter regulation affect investors' reaction to rating signals. We focus on three …

I compare issuer-paid ratings, represented by Standard & Poor's (S&P) to investor-paid
ratings, represented by Egan-Jones Ratings Company (EJR), after the passage of the Dodd …

We develop a dynamic model of a multi-asset over-the-counter (OTC) market that operates
via search and bargaining and empirically test its implications regarding liquidity in the cross …

We investigate whether the stock market impact of tone in Moody's rating reports depends
on negative news. Reports convey negative news through negative rating actions …

Using both dictionary-based and topic modelling approaches, we examine whether and how
credit analysts use borrowers' qualitative disclosures to extract information pertaining to …

Using univariate and multivariate Mixed Data Sampling (MIDAS) and LASSO estimation
methodologies, we explore whether the US annual average corporate bond default rate can …

In this study, we investigate the operational risk reporting practices of Islamic banking
institutions (IBIs) and conventional banks (CBs) in Saudi Arabia. Moreover, we explore the …

This paper analyzes how reputational shocks and regulatory reforms have affected the value-
relevant information content of rating adjustments announced by the main Credit Rating …

Prior researchers document no significant abnormal returns around upgrades of credit
ratings, suggesting upgrades convey no new information. These studies are limited by lack …

In this paper, we analyze the key drivers of bond covenant prices by employing a novel
measurement approach based on secondary market data. We find that covenant prices vary …