DID FOREIGN OWNERSHIP OF KOREAN CREDIT RATING AGENCIES IMPROVE THEIR RATINGS?

被引：6
|
作者：
Joe, Denis Yongmin [1 ]
Oh, Frederick Dongchuhl [1 ]
机构：
[1] Korea Adv Inst Sci & Technol, KAIST Coll Business, Seoul 130722, South Korea
来源：
CONTEMPORARY ECONOMIC POLICY | 2017年 / 35卷 / 01期
关键词：
INVESTMENT;
D O I：
10.1111/coep.12176
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
In this study, we investigate whether foreign equity participation fostered the growth of Korea's credit rating industry during the 2002-2013 period. We find that the rating quality deteriorated steadily even though the foreign ownership of Korea's credit rating agencies increased: Rating levels went up. Our analysis indicates that the Korean government's policy of gradually relaxing the restrictions on foreign ownership of local credit rating agencies was ineffectual.
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页码：193 / 200
页数：8
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