Dynamique de la Notation et Performance Financière de l'Entreprise

Meriem Seffar, Bernard Olivero () and Philippe Luu ()
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Meriem Seffar: GRM - Groupe de Recherche en Management - EA 4711 - UNS - Université Nice Sophia Antipolis (1965 - 2019) - UniCA - Université Côte d'Azur
Bernard Olivero: GRM - Groupe de Recherche en Management - EA 4711 - UNS - Université Nice Sophia Antipolis (1965 - 2019) - UniCA - Université Côte d'Azur
Philippe Luu: GRM - Groupe de Recherche en Management - EA 4711 - UNS - Université Nice Sophia Antipolis (1965 - 2019) - UniCA - Université Côte d'Azur

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Abstract: The rating agencies could not anticipate many financial crises and could not predict the failure of some big companies and banks such as Enron, Lehman Brothers ... .. In a context of globalization and development of financial markets, where the role of these rating agencies is growing, these events continue to call into question the reliability of credit ratings. This article examines the quality of financial ratings and analyzes the credibility of agencies, which sometimes attempt to provide credit ratings that are likely to remain broadly stable, whereas they should reflect, first, the financial position of the company, its solvency and ability to meet future commitments. Thus, in this article, we analyze the relationship between financial ratings and financial indicators and try to explain the ratings late adjustment.

Keywords: timing of adjustment of financial ratings; overvaluations; dynamics of financial ratings; Financial ratings; dynamique des notations financières; surévaluations; délai d'ajustement des notations financières; Notation financière (search for similar items in EconPapers)
Date: 2019-10-07
Note: View the original document on HAL open archive server: https://hal.science/hal-02307764
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