Reforming Rating Agencies

Philippe Raimbourg and Federica Salvadè
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Philippe Raimbourg: PRISM Sorbonne - Pôle de recherche interdisciplinaire en sciences du management - UP1 - Université Paris 1 Panthéon-Sorbonne, UP1 - Université Paris 1 Panthéon-Sorbonne, LABEX Refi - ESCP Europe - Ecole Supérieure de Commerce de Paris
Federica Salvadè: LABEX Refi - ESCP Europe - Ecole Supérieure de Commerce de Paris, UP1 - Université Paris 1 Panthéon-Sorbonne

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Abstract: Rating agencies have been under the spotlight since the beginning of the century. Financial disasters and the subprime crisis of 2008 brought about the birth of such preoccupations as many investors and regulators became sceptical about their activities. In this chapter, the authors highlight the main characteristics of this activity, sum up the criticisms they had to face, analyse the usefulness of the agencies for investors and the financial market as a whole, and present some possible paths for reforming rating agencies.

Date: 2017-08-30
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Published in Financial Regulation in the EU, Springer International Publishing, pp.309-319, 2017, ⟨10.1007/978-3-319-44287-7_12⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04011057

DOI: 10.1007/978-3-319-44287-7_12

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