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https://scholarbank.nus.edu.sg/handle/10635/147791
DC Field | Value | |
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dc.title | EXAMINING THE INFORMATIONAL VALUE OF CREDIT RATING REPORTS AND THE IMPACT ON STOCK MARKET RESPONSE | |
dc.contributor.author | SONG HUIZHEN | |
dc.date.accessioned | 2018-09-28T02:36:33Z | |
dc.date.available | 2018-09-28T02:36:33Z | |
dc.date.issued | 2013 | |
dc.identifier.citation | SONG HUIZHEN (2013). EXAMINING THE INFORMATIONAL VALUE OF CREDIT RATING REPORTS AND THE IMPACT ON STOCK MARKET RESPONSE. ScholarBank@NUS Repository. | |
dc.identifier.uri | http://scholarbank.nus.edu.sg/handle/10635/147791 | |
dc.description.abstract | My study examines in detail the informational value of the content of credit rating reports. An in-depth analysis of the content sheds light on which factors within the report investors value. The results of my study indicates that higher level of informational content in credit rating reports results in more positive response to downgrades, reducing the magnitude of negative stock price reaction. In addition, I find strong evidence to show that downgrade credit rating report written with an optimistic tone results in more positive response. My study also reveals that the market only responds significantly to downgrades substantiated by operational and managerial reasons and not by financial and accounting issues or macroeconomics or industry trends. Lastly, I find no evidence of post-announcement reaction of stock market to credit rating changes. | |
dc.type | Thesis | |
dc.contributor.department | NUS Business School | |
dc.contributor.supervisor | VINCENT CHEN YU-SHEN | |
dc.description.degree | Bachelor's | |
dc.description.degreeconferred | BACHELOR OF BUSINESS ADMINISTRATION (ACCOUNTANCY) WITH HONOURS | |
Appears in Collections: | Bachelor's Theses |
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