商品簡介
Credit rating agencies play an essential role in the modern financial system and are relied on by creditors and investors on the market. In the recent financial crisis, their power and reliability were often questioned, yet a simple rating downgrade could threaten to bankrupt a whole country.
This book examines the governance of credit rating agencies, as expressed by their ability to fairly, ethically and consistently assign higher rates to issuers having lesser default risks. However, factors such as the drive for increased revenue and market share, the inadequate business model, the inadequate methodology of assessing risk, opacity and inadequate internal monitoring have all been identified as critical governance failures for credit agencies. This book explores these issues, and proposes some potential solutions and improvements.
This will be of interest to researchers and advanced students of corporate finance, finance, financial economics, risk management, investment management, and banking.
作者簡介
Ahmed Naciri is currently Professor at the School of Business at UQAM; he is former Chairman of the Accountancy Department at the UQAM and the founding Chair of the International Centre for Governance. He is internationally recognized for his work on governance and has published four books, two of them with Routledge, as well as sixty research papers in first class international journals. This work has earned him the Award of Excellence from the Canadian Association of Administrative Sciences.
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