Paper Spotlight: Do Security Analysts Discipline Credit Rating Agencies?
Credit ratings agencies are important players in financial markets and they could contribute to efficient resource allocations through information generation. Often, though, expectations of this positive impact are not met in reality because of well-documented biases that credit rating agencies suffer from. Such issues can be due to revolving doors, home biases, and political beliefs of credit analysts. These biases can ultimately have a… Read More »Paper Spotlight: Do Security Analysts Discipline Credit Rating Agencies?