Do personal connections improve sovereign credit ratings?

Research output: Contribution to journal › Article › peer-review

Standard Standard

Do personal connections improve sovereign credit ratings? / Klusak, Patricia; Thornton, John; Uymaz, Yurtsev.
In: Finance Research Letters, Vol. 33, 101194, 03.2020.

Research output: Contribution to journal › Article › peer-review

HarvardHarvard

Klusak, P, Thornton, J & Uymaz, Y 2020, 'Do personal connections improve sovereign credit ratings?', Finance Research Letters, vol. 33, 101194. https://doi.org/10.1016/j.frl.2019.05.012

APA

Klusak, P., Thornton, J., & Uymaz, Y. (2020). Do personal connections improve sovereign credit ratings? Finance Research Letters, 33, Article 101194. https://doi.org/10.1016/j.frl.2019.05.012

CBE

Klusak P, Thornton J, Uymaz Y. 2020. Do personal connections improve sovereign credit ratings?. Finance Research Letters. 33:Article 101194. https://doi.org/10.1016/j.frl.2019.05.012

MLA

Klusak, Patricia, John Thornton and Yurtsev Uymaz. "Do personal connections improve sovereign credit ratings?". Finance Research Letters. 2020. 33. https://doi.org/10.1016/j.frl.2019.05.012

VancouverVancouver

Klusak P, Thornton J, Uymaz Y. Do personal connections improve sovereign credit ratings? Finance Research Letters. 2020 Mar;33:101194. Epub 2019 May 20. doi: 10.1016/j.frl.2019.05.012

Author

Klusak, Patricia ; Thornton, John ; Uymaz, Yurtsev. / Do personal connections improve sovereign credit ratings?. In: Finance Research Letters. 2020 ; Vol. 33.

RIS

TY - JOUR

T1 - Do personal connections improve sovereign credit ratings?

AU - Klusak, Patricia

AU - Thornton, John

AU - Uymaz, Yurtsev

PY - 2020/3

Y1 - 2020/3

N2 - 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.

AB - 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.

KW - Information asymmetries

KW - Personal connections

KW - Sovereign credit ratings

U2 - 10.1016/j.frl.2019.05.012

DO - 10.1016/j.frl.2019.05.012

M3 - Article

VL - 33

JO - Finance Research Letters

JF - Finance Research Letters

SN - 1544-6123

M1 - 101194

ER -