| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5062723 | Economics Letters | 2006 | 9 Pages |
Abstract
This study presents the first empirical analysis of the impact of bond ratings changes during periods of significant economic instability. Using the Korean financial crisis as the experimental stimulus, the study documents that changes in Korean bond ratings during the financial crisis resulted in dramatically stronger changes in stock prices than ratings changes of identical magnitude announced either before or after the crisis.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Sang Lyong Joo, Stephen W. Pruitt,