Series: IMF Working Papers
Author(s): Anthony Richards , and David Deddouche
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 November 1999
Keywords: Event Study, Rating Changes, Bank Stock Prices, bond, stock prices, stock market, bank stocks, stock returns
This paper examines the performance of emerging market bank stocks around the time of rating changes by major international agencies. The data suggest that downgrades on average have followed periods of negative cu...