Journal of Economics and Finance
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Published By Springer-Verlag

1938-9744, 1055-0925

Author(s):  
Kunal Saha ◽  
Vinodh Madhavan ◽  
G. R. Chandrashekhar


Author(s):  
Cuiyuan Wang ◽  
Tao Wang ◽  
Changhe Yuan ◽  
Jane Yihua Rong


Author(s):  
Russell E. Triplett ◽  
Nilufer Ozdemir ◽  
Paul M. Mason


Author(s):  
Heidrun Hoppe-Wewetzer ◽  
Christian Siemering

AbstractThis paper investigates the incentives of a credit rating agency (CRA) to generate accurate ratings under an advertisement-based business model. To this end, we study a two-period endogenous reputation model in which a CRA can increase the precision of its ratings by exerting effort. The CRA receives a revenue not from rating fees, as is standard in the literature, but through online advertising. We show that the advertisement-based business model provides sufficient incentives for the CRA to improve the precision of signals at intermediate levels of reputation. Furthermore, we identify conditions under which truthful reporting is incentive compatible.





Author(s):  
George A. Waters ◽  
Thuy Bui
Keyword(s):  


Author(s):  
Anokye M. Adam ◽  
Kwabena Kyei ◽  
Simiso Moyo ◽  
Ryan Gill ◽  
Emmanuel N. Gyamfi


Author(s):  
Carmen Cotei ◽  
Joseph Farhat ◽  
Indu Khurana


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