2023
DOI: 10.1111/jbfa.12695
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An empirical analysis of the effects of the Dodd–Frank Act on determinants of credit ratings

Abstract: We study the effects of the Dodd–Frank Act (“Dodd–Frank”) on determinants of credit ratings. We predict that the increase in regulatory oversight and litigation risk prompted by Dodd–Frank, as well as requirements for improved disclosures and governance, motivated credit rating agencies (CRAs) to increase the reliance on verifiable quantitative fundamental information in determining ratings. We find that the power of firm fundamentals in explaining credit ratings increases significantly after Dodd–Frank. Furth… Show more

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Cited by 2 publications
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References 48 publications
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