Konkurencyjność agencji ratingowych

• Autorzy: Patrycja Chodnicka-Jaworska

Warianty tytułu

Competition among Credit Rating Agencies

• Języki publikacji: PL

Abstrakty

Celem artykułu jest analiza rynku agencji ratingowych, ich specyfiki działania oraz głównych trendów zachodzących na rynku europejskim. W tym celu dokonano przeglądu literaturowego przedmiotu. Omówiono wpływ zmian not ratingowych na funkcjonowanie rynku finansowego. Na podstawie danych pozyskanych z Komisji Europejskiej, dotyczących funkcjonowania rynku agencji ratingowych w latach 2009-2015, postawiono hipotezę: Wzrost konkurencji na rynku agencji ratingowych uwarunkowany jest zainteresowaniem emitentów nadawanymi notami ratingowymi. Hipotezę zweryfikowano, przeprowadzając analizę danych źródłowych oraz badanie porównawcze rynku europejskiego i rynku amerykańskiego.(abstrakt oryginalny)

EN

The aim of the paper is to analyze the credit rating agencies (CRA) market, bringing out the unique characteristics of the agencies' activity, and to outline the major trends observable in the European market. The paper sets out from a literature review, to proceed to a discussion of the effects that changes in credit rating have on the financial market. Based on 2009-2015 data on the credit rating agencies market supplied by the European Commission, a hypothesis is put forth that increased competition in the CRA market is contingent on issuers' interest in credit ratings awarded by the agencies. The hypothesis is validated by examining a body of relevant source data and through a comparative study of the European and American markets.(original abstract)

Słowa kluczowe

PL

Agencje ratingowe; Rating; Konkurencja; Ryzyko rynkowe

EN

Rating agency; Rating; Competition; Market risk

• Czasopismo: Zeszyty Naukowe Wyższej Szkoły Bankowej w Poznaniu
• Rocznik: 2017
• Tom: 73 nr 2 Innowacyjność i zmiana jako wyzwania dla współczesnych finansów
• Strony: 25--40

Twórcy

autor

Patrycja Chodnicka-Jaworska

• Uniwersytet Warszawski

Bibliografia

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