Bank Rating Changes and Bank Stock Returns—Puzzling Evidence from the Emerging Markets

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 positive returns. More important, stock prices... READ MORE...

Publication date: November 1999
ISBN 9781451857016
$15.00

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