Credit rating agencies' roles have to be reassessed
Rahim, Mia Mahmudur (2010) Credit rating agencies' roles have to be reassessed. Law and Financial Markets Review, 4(4), pp. 433-438.
With the disintermediation of the financial markets, credit rating agencies filled the informational need of investors on the creditworthiness of borrowers. They acquired their privileged position in the financial market through their intellectual technology and reputational capital. To a large extent, they have gradually dissipated the authority of state regulators and supervisory authorities with their increasing reliance on credit ratings for regulatory purposes. But the recent credit crisis revives the question on whether states should retake their authorities and how far rating agencies should be subjected to competition, transparency and accountability constraints imposed by the public and the market on state regulators and supervisory authorities. Against this backdrop, this article critically explores the key concerns with credit rating agencies' functions to regulate financial market for further assessment
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|Item Type:||Journal Article|
|Keywords:||financial markets credit rating agencies|
|Subjects:||Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000)
Australian and New Zealand Standard Research Classification > LAW AND LEGAL STUDIES (180000)
|Divisions:||Current > QUT Faculties and Divisions > QUT Business School
Current > Schools > School of Accountancy
|Deposited On:||09 May 2013 23:23|
|Last Modified:||15 Jul 2013 04:13|
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