Public values and function creep of the financial rating by local authorities

Muriel Michel-Clupot () and Serge Rouot ()
Additional contact information
Muriel Michel-Clupot: CEREFIGE - Centre Européen de Recherche en Economie Financière et Gestion des Entreprises - UL - Université de Lorraine
Serge Rouot: CEREFIGE - Centre Européen de Recherche en Economie Financière et Gestion des Entreprises - UL - Université de Lorraine

Post-Print from HAL

Abstract: As issuers, local authorities have credit ratings that are used in the search for direct funding from the capital markets. However, some local officials also use their ratings as instruments of local public reporting. Does this function creep affect the public values of local authorities? In line with the theory of publicness (Bozeman, 2007), a measurement of this publicness and the detection of public values (Jorgensen and Bozeman, 2002, 2007) are proposed both for the authorities that expressly mention their rating and those that make no mention of it. A textual analysis of their respective discourses reveals a function creep that conveys a lesser degree of publicness and ‘market'-oriented public values, but also generates one public value: transparency.

Keywords: Financial rating; Local authorities; Local public reporting; Publicness; Public values; Textual analysis (search for similar items in EconPapers)
Date: 2015
References: Add references at CitEc
Citations:

Published in International Review of Administrative Sciences, 2015, 81 (2), pp.303-325 ⟨10.1177/0020852314554542⟩

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-01371839

DOI: 10.1177/0020852314554542

Access Statistics for this paper

More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD ().