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A Century of Bond Ratings as a Business

Author

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  • Ludovic Moreau

    (EconomiX - EconomiX - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique)

Abstract

Historical accounting datasets about a leader of the bond rating industry have been gathered in order to provide an unprecedented long term view on this business. To better judge of the dynamics at play, similar data for representatives of older and broader business fields is also introduced. Overall, this empirical discussion plays down the importance of regulatory « licenses » given to bond rating firms and puts forward the coming of a « modern » business model where issuers pay for ratings.

Suggested Citation

  • Ludovic Moreau, 2009. "A Century of Bond Ratings as a Business," Working Papers hal-04140839, HAL.
    • Handle: RePEc:hal:wpaper:hal-04140839
    Note: View the original document on HAL open archive server: https://hal.science/hal-04140839
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    References listed on IDEAS

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    1. Thomas R. Atkinson, 1967. "Trends in Corporate Bond Quality," NBER Books, National Bureau of Economic Research, Inc, number atki67-1.
    2. Giovanni Favero, 2007. "Weather forecast or rain-dance? On inter-war business barometers," Working Papers 2007_14, Department of Economics, University of Venice "Ca' Foscari".
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