Using the Tools of Industrial Organisation to Illuminate the Credit Rating Industry

IF 16.4 1区化学 Q1 CHEMISTRY, MULTIDISCIPLINARY

Accounts of Chemical Research Pub Date : 2019-08-06 DOI:10.1111/jere.12238

Lawrence J. White

引用次数: 2

Abstract

Until slightly more than a decade ago, the credit rating industry was largely a little-recognised and little-understood part of the financial system “plumbing”. This obscurity changed with the financial crisis of 2008 and its aftermath. After a few years of intensive attention, however, the CRAs have retreated back to semi-obscurity and attract little media or political attention. The tools of industrial organisation can help us understand this industry: its structure; its behaviour; and its outcomes; and the public policies that are likely to improve its functioning.

查看原文本刊更多论文

用产业组织的工具来阐释信用评级行业

直到十多年前，信用评级行业在很大程度上还是金融体系“管道”中一个不被认可、也不被理解的部分。随着2008年金融危机及其余波的爆发，这种默默无闻的状态发生了改变。然而，经过几年的密切关注，评级机构已经退回到半默默无闻的状态，很少吸引媒体或政治关注。产业组织的工具可以帮助我们理解这个产业:它的结构;其行为;以及它的结果;以及可能改善其运作的公共政策。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

Accounts of Chemical Research 化学-化学综合

CiteScore

31.40

自引率

1.10%

发文量

312

审稿时长

2 months

期刊介绍： Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance. Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.