EconPapers    
Economics at your fingertips  
 

Credit Ratings in the Japanese Bond Market

Nobuyoshi Yamori (), Narunto Nishigaki and Yoshihiro Asai

MPRA Paper from University Library of Munich, Germany

Abstract: Recently, credit ratings have been enhancing the influence on issuers as well as the national economy. This paper explains the historical development and several current features of the Japanese bond market, and discusses why credit ratings gained a significant role in the 1990s. We also present empirical research on credit ratings in the Japanese bond market, and discuss how foreign raters tend to assign lower credit ratings than Japanese ones, but that the relative ratings among raters end up being similar. Finally, we clarify the issues that remained to be solved before credit rating companies can be considered truly reliable.

Keywords: Credit Ratings; Bond Market; Japanese Economy; American Raters (search for similar items in EconPapers)
JEL-codes: G24 (search for similar items in EconPapers)
Date: 2006-03
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3) Track citations by RSS feed

Published in Japanese Fixed Income Markets: Money, Bond and Interest Rate Derivatives (2006): pp. 257-281

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/14913/1/MPRA_paper_14913.pdf original version (application/pdf)

Related works:
Working Paper: Credit Ratings in the Japanese Bond Market (2006) Downloads
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:pra:mprapa:14913

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().

 
Page updated 2020-06-13
Handle: RePEc:pra:mprapa:14913