Credit ratings and information asymmetry on the Chinese syndicated loan market

Autor:	Timo Korkeamäki, Salla Pöyry, Maiju Suo
Přispěvatelé:	Hanken School of Economics, Finance, Helsinki
Rok vydání:	2014
Předmět:	Economics and Econometrics ta511 KOTA2014 media_common.quotation_subject Credit reference Financial system Syndicate Syndicated loan Credit rating Information asymmetry 511 Economics Criticism Quality (business) Business 512 Business and Management China ta512 Finance media_common
Zdroj:	China Economic Review. 31:1-16
ISSN:	1043-951X
DOI:	10.1016/j.chieco.2014.08.001
Popis:	We study whether local credit ratings alleviate information asymmetry inherent in the fast growing Chinese market by examining the syndicate structure of loans issued by Chinese borrowers in 2003–2011. Despite the common criticism regarding the quality of Chinese credit ratings, our results suggest that they serve an important role in reducing information asymmetry in the market between corporate insiders and outside borrowers.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_dedup___::3fcc631004e87b7ebc3af8be3680fa6a https://doi.org/10.1016/j.chieco.2014.08.001 Zobrazit plný text záznamu Full Text from ScienceDirect