The authors conduct the first systematic analysis of the determinants and impact of the sovereign
credit ratings assigned by the two leading US agencies, Moody's Investor Services and …

Investors and regulators have been increasing their reliance on the opinions of the credit
rating agencies. This article shows that although the ratings provide accurate rank-orderings of …

Financing of investments through green bonds has grown rapidly in recent years. But definitions
of what makes a bond" green" vary. Various certification mechanisms have evolved to …

Many regulations use private sector credit ratings to determine investment prohibitions and
capital requirements for institutional portfolio investments. These regulations implicitly …

The presence of venture capital in the ownership structure of US firms going public has been
associated with both improved long-term performance and superior “certification” at the …

This paper investigates the spillover effects of money market turbulence in 2007–08 on the
short-term covered interest parity (CIP) condition between the US dollar and the euro through …

This paper investigates dislocations in the foreign exchange (FX) swap market between the
US dollar and three major European currencies. After the failure of Lehman Brothers in …

Do banks price the risks of climate policy change? Combining syndicated loan data with
carbon intensity data (CO 2 emissions relative to revenue) of borrowers across a wide range of …

A the credit rating agencies. At the same time, the number of rating agencies operating in the
United States and abroad has risen sharply. Together, these trends have prompted market …

We analyse the spillover of the turmoil in money markets in the second half of 2007 to FX
swap and long-term cross-currency basis swap markets. We find that the use of swap markets …