Cross-sectional variation in the stock market reaction to bond rating changes

Quarterly Review of Economics and Finance

Volumn 39, Issue 1, 1999, Pages 101-112

  Goh, Jeremy C ^b   Ederington, Louis H ^a  

^a UNIVERSITY OF OKLAHOMA   (United States)

^b DREXEL UNIVERSITY   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0033096457     PISSN: 10629769     EISSN: None     Source Type: Journal    
DOI: 10.1016/S1062-9769(99)80006-4     Document Type: Article

References (10)

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3. Elayan, Fayez, Brian Maris, and Philip Young. 1996. "The effect of commercial paper rating changes and creditwatch placement on common stock prices." The Financial Review, 31: 149-158.
4. Goh, Jeremy C., and Louis Ederington. 1993. "Is a bond rating downgrade good news, bad news, or no news to stockholders?" Journal of Finance, 48: 2001-2008.
5. Hand, John, Robert Holthausen, and Richard Leftwich. 1992. "The effect of bond rating agency announcements on bond and stock prices." Journal of Finance, 47: 733-752.
6. Holthausen, Robert, and Richard Leftwich. 1986. "The effect of bond rating changes on common stock prices." Journal of Financial Economics, 17: 57-89.
7. Matolcsy, Z. P., and T. Liano. 1995. "The incremental information content of bond rating revisions: The australian evidence." Journal of Banking and Finance, 19: 891-902.
8. Nayar, Nandkumar, and Michael Rozeff. 1994. "Ratings, commercial paper, and equity returns." Journal of Finance, 49: 1431-1449.
9. Wansley, James, and Joseph Clauretie. 1985. "The impact of credit watch placement on equity returns and bond prices." Journal of Financial Research, 8: 31-42.
10. Wansley, James, Fayez Elayan, and Brian Maris. 1990. "Preferred stock returns, credit-watch, and preferred stock rating changes." The Financial Review, 25: 265-286.