Wpływ ratingów kredytowych na kurs akcji

• Autorzy: Patrycja Chodnicka-Jaworska

Warianty tytułu

The Influence of Credit Rating on the Stock Prices

• Języki publikacji: PL

Abstrakty

Cel - Celem artykułu jest analiza wpływu zmian credit ratingów banków na kursy akcji. Metodologia badania - Do badania wykorzystano długoterminowe credit ratingi banków europejskich nadawane przez Standard & Poor's Investor Service w latach 1980-2015. Jako zmienną zależną obrano stopy zwrotu z akcji. Analizę przeprowadzono przy wykorzystaniu metody event study. Wynik - Przeprowadzone badanie sugeruje istotny wpływ spadku credit ratingu na kursy akcji. Wzrost not ratingowych słabiej oddziałuje na ceny. Oryginalność/wartość - Analizę przeprowadzono dla wszystkich banków krajów europejskich, dla długiego horyzontu czasowego.(abstrakt oryginalny)

EN

Purpose - The aim of the article is to analyse the impact of banks' credit rating changes on share prices. Design/methodology/approach - In the study are used long-term issuer credit ratings of European banks assigned by Standard & Poor's Investor Service in the period of time 1980-2015. As a dependent variable was chosen rate of return of shares. Analysis was performed by using the event study method. Findings - The prepared research suggests a significant impact of the decrease credit rating on the stock prices. The increase in credit rating not less effect on prices. Originality/value - The analysis was performed for all banks in European countries for the long period of time.(original abstract)

Słowa kluczowe

PL

Ocena zdolności kredytowej; Kurs akcji; Analiza zdarzeń; Stopa zwrotu

EN

Credit rating; Share price; Event study; Rate of return

• Czasopismo: Finanse, Rynki Finansowe, Ubezpieczenia
• Rocznik: 2016
• Numer: nr 3 (81) Problemy współczesnej gospodarki światowej
• Strony: 49--55

Twórcy

autor

Patrycja Chodnicka-Jaworska

• Uniwersytet Warszawski

Bibliografia

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Identyfikatory

DOI

10.18276/frfu.2016.81-05