Standards are poor: On competence and professional integrity at the leading rating agency
Competence behind sovereign ratings is crucial, given that the government bond market may be vulnerable to multiple equilibria and self-fulfilling prophecies. With this in mind, this paper reviews and scrutinises official Standard & Poor's publications that address key issues surrounding th...
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| Veröffentlicht in: | Inter economics 2014-11, Vol.49 (6), p.340-347 |
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| container_title | Inter economics |
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| creator | Gärtner, Manfred |
| description | Competence behind sovereign ratings is crucial, given that the government bond market may be vulnerable to multiple equilibria and self-fulfilling prophecies. With this in mind, this paper reviews and scrutinises official Standard & Poor's publications that address key issues surrounding the government bond market and the role of ratings. It presents a lack of competence, revealed in an inadequate grasp of crucial concepts such as multiple equilibria and self-fulfilling prophecy, obliviousness to Standard and Poor's own rating methodology, and a nonchalant treatment of facts that casts a poor light on the agency's integrity. |
| doi_str_mv | 10.1007/s10272-014-0517-8 |
| format | Article |
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| source | PAIS Index; Elektronische Zeitschriftenbibliothek - Frei zugängliche E-Journals; Springer Nature - Complete Springer Journals |
| subjects | Bewertung Bias Bond ratings Credit ratings Default Developing countries Economic Policy Economic theory Economics Economics and Finance Equilibrium European Integration Government bonds Labor Economics LDCs Länderrisiko Politics Prophecies Quality standards Rating services Ratingagentur Ratings & rankings Social Policy Solvency Sovereign debt Standard and Poor's Corporation <New York, NY> USA Öffentliche Anleihe |
| title | Standards are poor: On competence and professional integrity at the leading rating agency |
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