Informational Quality of Financial Systems and Economic Development: An Indicators Approach for East Asia

Chan-Lee, James H.; Ahn, Sanghoon

doi:10.2139/ssrn.276670

Cited by 12 publications

(11 citation statements)

References 48 publications

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“…Risk refers to the factors that affect customer mentality and the possibility of using social commerce 50 ; therefore, we propose the following:…”

Section:  Functional Riskmentioning

confidence: 99%

“…This risk refers to the customers' concerns about these subjects 50 ; therefore, we propose the following:…”

Section:  Time Riskmentioning

confidence: 99%

“…Private information can be tracked and used on the Internet in order to share with others 9 . If the user's private data is collected and used without their consciousness, the use and popularity of this network will reduce 50 ; therefore, we propose the following:…”

Section:  Privacy Riskmentioning

confidence: 99%

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The Effects of Perceived Risk on Social Commerce Adoption Based on Tam Model

2017

IJECS

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With the emergence of electronic commerce, the development of social networks has introduced the concept of social commerce. Since accepting new technology can be somewhat challenging for Internet users, this study examines the effect of perceived risk on the adoption of social commerce from their perspective. For this purpose, a conceptual model based on the Technology Acceptance Model (TAM) has been created to take into account different types of risks, including financial, functional, social, time, psychological, and privacy risks. The results of the study, which applied a structural equation modelling (SEM) approach and partial least squares (PLS), revealed that, among 277 active users of social media, perceived risk has a significant impact on the perceived usefulness of social commerce. Moreover, among the different constructs of risk, psychological and social risks have no noticeable effect on commerce adoption.

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“…Risk refers to the factors that affect customer mentality and the possibility of using social commerce 50 ; therefore, we propose the following:…”

Section:  Functional Riskmentioning

confidence: 99%

“…This risk refers to the customers' concerns about these subjects 50 ; therefore, we propose the following:…”

Section:  Time Riskmentioning

confidence: 99%

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The Effects of Perceived Risk on Social Commerce Adoption Based on Tam Model

2017

IJECS

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“…Chan- Lee and Ahn (2001) Notes: BankScope: Fitch IBCA BankScope CD- ROM (2002ROM ( , 2003ROM ( , 2004ROM ( , 2005ROM ( , 2006ROM ( , 2007ROM ( , 2008 …”

Section: Icrg Disclosementioning

confidence: 99%

Asymmetric benchmarking in bank credit rating

Shen

Huang

Hasan

2012

Journal of International Financial Markets, Institutions and Mo

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a b s t r a c tThis study proposes an information asymmetry hypothesis to examine why bank credit ratings vary among countries even when bank financial ratios remain constant. Countries are divided among those with low and high information asymmetry. The former include high-income countries, those in North America and West Europe regions, and those with strong institutional environment quality, whereas the latter group possess the opposite characteristics. This study hypothesizes that the influences of financial ratios on ratings are enhanced in low information asymmetry countries but reduced in countries with high information asymmetry. The sample includes the long-term credit ratings issued by Standard and Poor's from 86 countries during 2002-2008. The estimated results show that the effects of financial ratios on ratings are significantly affected by information asymmetries. Countries wishing to improve the credit ratings of their banks thus should reduce information asymmetry.

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“…The second "tightness" measure between the firm and sovereign ratings we use is the ratio of the standard deviation between the two ratings and the level of the sovereign rating (STDEVSORAT). Indeed, both measures of the closeness between the firm and sovereign risks can be well explained by the rule of law index developed by Transparency International (2000) and the information quality index recently developed by Chan-Lee (2001). 20 The results indicate that the higher is the rule of law index, the higher the dispersion between the firm and sovereign ratings.…”

Section: Information Quality and Firm Rating Quality Across Countriesmentioning

confidence: 88%

How Do Global Credit-Rating Agencies Rate Firms from Developing Countries?

Ferri¹,

Liu²

2003

Asian Economic Papers

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. This paper seeks the relative contribution of sovereign risks and firm-level credit risks in a firm's rating assignment. The findings reveal that sovereign risks contribute to a major part of firms' ratings in developing countries, whereas such risks play a negligible role in assigning ratings in developed countries. Terms of use: Documents inThe authors show that this result for developing countries partly depends on the "country ceiling effect"-private ratings are bound upwards by their sovereign rating-but in these countries idiosyncratic information is irrelevant even for firms whose rating would lie anyhow well below their sovereign. They also document that the information content of firm ratings is much smaller in developing countries than in developed countries. Finally, the paper suggests that cross-country indicators of information quality, rule of law and other institutional quality indicators help explain this unsatisfactory situation but do not solve the puzzle entirely. ADB Institute Research Paper SeriesNo. 26 III PREFACEThe ADB Institute aims to explore the most appropriate development paradigms for Asia composed of well-balanced combinations of the roles of markets, institutions, and governments in the post-crisis period.Under this broad research project on development paradigms, the ADB Institute Research Paper Series will contribute to disseminating works -in-progress as a building block of the project and will invite comments and questions.I trust that this series will provoke constructive discussions among policymakers as well as researchers about where Asian economies should go from the last crisis and current recovery. Masaru Yoshitomi Dean ADB Institute IV ABSTRACTWhat is the relative contribution of sovereign risks and firm-level credit risks in a firm's rating assignment? Or, stated otherwise, what is the information content of these components in a firm's rating? This paper intends to examine this issue, which has not been adequately addressed so far, using a tailor-made firm-level database, matching sovereign and firm ratings with firm performance indicators reportedly used by rating agencies. The paper decomposes factors contributing to a firm's credit rating by measuring each factor's relative weight. By matching a firm's credit risk indicators with its corresponding sovereign risk, we are able to disentangle the relative importance of each factor in a firm's rating assignment.We make three contributions. First, our findings ...

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Informational Quality of Financial Systems and Economic Development: An Indicators Approach for East Asia

Cited by 12 publications

References 48 publications

The Effects of Perceived Risk on Social Commerce Adoption Based on Tam Model

The Effects of Perceived Risk on Social Commerce Adoption Based on Tam Model

Asymmetric benchmarking in bank credit rating

How Do Global Credit-Rating Agencies Rate Firms from Developing Countries?

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