ISSN: 2450-7741
eISSN: 2300-4460
OAI
DOI: 10.18276/frfu.2016.81-05
Issue archive /
3/2016 (81)
Wpływ ratingów kredytowych na kurs akcji
(The Influence of Credit Rating on the Stock Prices)
| Authors: | Patrycja Chodnicka-Jaworska |
| Keywords: | credit rating event study rate of return |
| Data publikacji całości: | 2016 |
| Page range: | 7 (49-55) |
Abstract
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.
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