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  • When do stock analysts find bond rating changes informative? /
Tác giả CN Boochun, Jung.
Nhan đề When do stock analysts find bond rating changes informative? /Boochun Jung, Konduru Sivaramakrishnan & Naomi Soderstrom
Mô tả vật lý p3-p30
Tóm tắt Credit rating agencies (CRAs) have considerable privileged access to corporate management and are therefore a potentially important source of information to the equity market. We study how stock analysts incorporate bond ratings in their earnings forecasts. We develop an economic framework to explain why equity analysts might look to CRAs as an information source, especially after Regulation Fair Disclosure. Using this framework, we characterize the association between ratings changes and earnings forecast revisions surrounding these changes. We examine whether the extent to which equity analysts glean information from ratings changes is related to the extent and importance of information conveyed in the ratings change and analysts’ information uncertainty. We find that characteristics we examine are strongly related to stock analysts’ use of information in rating downgrades
Đề mục chủ đề Kế toán--Nghiên cứu--TV ĐHHN
Đề mục chủ đề Tài chính--Nghiên cứu--TV ĐHHN
Thuật ngữ không kiểm soát Debt rating changes.
Thuật ngữ không kiểm soát Regulation Fair Disclosure.
Thuật ngữ không kiểm soát Equity analysts.
Thuật ngữ không kiểm soát Analyst forecast revisions.
Tác giả(bs) CN Konduru, Sivaramakrishnan.
Tác giả(bs) CN Soderstrom. Naomi.
Nguồn trích Acounting and business research- 2016, Vol46, N.1
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039|a20241209092023|bidtocn|c|d|y20160830152240|zkhiembt
0410|aeng
1000|aBoochun, Jung.
24510|aWhen do stock analysts find bond rating changes informative? /|cBoochun Jung, Konduru Sivaramakrishnan & Naomi Soderstrom
300|ap3-p30
3620|aVol 46 (January 2016)
520|aCredit rating agencies (CRAs) have considerable privileged access to corporate management and are therefore a potentially important source of information to the equity market. We study how stock analysts incorporate bond ratings in their earnings forecasts. We develop an economic framework to explain why equity analysts might look to CRAs as an information source, especially after Regulation Fair Disclosure. Using this framework, we characterize the association between ratings changes and earnings forecast revisions surrounding these changes. We examine whether the extent to which equity analysts glean information from ratings changes is related to the extent and importance of information conveyed in the ratings change and analysts’ information uncertainty. We find that characteristics we examine are strongly related to stock analysts’ use of information in rating downgrades
65017|aKế toán|xNghiên cứu|2TV ĐHHN
65017|aTài chính|xNghiên cứu|2TV ĐHHN
653|aDebt rating changes.
653|aRegulation Fair Disclosure.
6530|aEquity analysts.
6530 |aAnalyst forecast revisions.
7000|aKonduru, Sivaramakrishnan.
7001|aSoderstrom. Naomi.
7730|tAcounting and business research|g2016, Vol46, N.1
890|a0|b0|c0|d0

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