Bank Rating Changes and Bank Stock Returns-Puzzling Evidence from the Emerging Markets /
This paper examines the performance of emerging market bank stocks around the time of rating changes by major international agencies. The data suggest that downgrades on average have followed periods of negative cumulative abnormal returns for banks, although upgrades have not followed periods of po...
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| Format: | Tidsskrift |
| Sprog: | English |
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Washington, D.C. :
International Monetary Fund,
1999.
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| Serier: | IMF Working Papers; Working Paper ;
No. 1999/151 |
| Online adgang: | Full text available on IMF |