Christine Parlour , Uday Rajan Dec 28,2016
Working Paper No.00012-00
We provide a novel interpretation of the role of credit ratings when contracts between investors and portfolio managers are incomplete.... Read More
Jonathan Cohn , Günter Strobl Uday Rajan Dec 28,2016
Working Paper No.00003-00
We study a model in which an issuer can manipulate information obtained by a credit rating agency (CRA) seeking to... Read More