In this essay, we discuss the factors influencing the likelihood of convergence in corporate
sustainability reporting. We identify several factors that negatively influence the probability of …

The market for the credit ratings of Chinese firms is large and growing. We analyse Chinese
firms that have ratings from both domestic and global agencies. Despite the similar symbols …

We explore through both an economics and regulatory lens the frictions associated with
credit rating agencies in the aftermath of the financial crisis. While ratings and other public …

We survey a growing field studying aspects of finance that are potentially illegal, illicit, or
immoral. Some of the literature is investigative in nature to uncover malfeasance that is …

How do changes in a rating agency's reputation affect the ratings market? We study the
dynamics of credit ratings after Standard & Poor's (S&P) was shut out of a large segment of …

Using a unique hand-collected sample of professional connections between finance
ministers and the top executives of the three largest credit rating agencies (CRAs) for 38 …

I review the empirical research on the role of stakeholders in corporate governance with an
emphasis in contributions from the accounting literature. In particular, I focus on the following …

This paper tests whether home bias exists among information producers. We find that credit
analysts are more generous when rating issuers from their home states compared with (a) …

The market for sovereign ratings has been dominated by two agencies but credible new
entrants have emerged. Decreasing market concentration has potentially significant …

Investment mandates of fixed income funds constrain managers' portfolio decisions, often
employing credit ratings to classify asset risk. We categorize US and European fixed income …