NAME
Uday Rajan
INSTITUTION
University of Michigan
OFFICE PHONE NUMBER
734-764-2310
EMAIL
urajan@umich.edu
ADDRESS
Ross School of Business, University of Michigan, 701 Tappan St., Ann Arbor, MI 48105
We provide a novel interpretation of the role of credit ratings when contracts between investors and portfolio managers are incomplete....
We study a model in which an issuer can manipulate information obtained by a credit rating agency (CRA) seeking to...