Do personal connections improve sovereign credit ratings?
Research output: Contribution to journal › Article › peer-review
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- 2020 Personal connections
Accepted author manuscript, 835 KB, PDF document
Licence: CC BY-NC-ND Show licence
DOI
In a large sample of sovereign debt issues, we show that a personal connection between senior executives in credit rating agencies and leading politicians in the sovereign results in an improved rating. A test on bond yields suggest that the personal connection reflects a favorable treatment of the issuer.
Keywords
- Information asymmetries, Personal connections, Sovereign credit ratings
| Original language | English |
|---|---|
| Article number | 101194 |
| Journal | Finance Research Letters |
| Volume | 33 |
| Early online date | 20 May 2019 |
| DOIs | |
| Publication status | Published - Mar 2020 |
| Externally published | Yes |
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