Stakes Sensitivity and Credit Rating: A New Challenge for Regulators
Abstract
The ethical practices of credit rating agencies (CRAs), particularly following the 2008 financial crisis, have been subject to extensive analysis by economists, ethicists, and policymakers. We raise a novel issue facing CRAs that has to do with a problem concerning the transmission of epistemic status of ratings from CRAs to the beneficiaries of the ratings (investors, etc.), and use it to provide a new challenge for regulators. Building on...
Paper Details
Title
Stakes Sensitivity and Credit Rating: A New Challenge for Regulators
Published Date
Sep 17, 2019
Journal
Volume
169
Issue
1
Pages
169 - 179
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