FRINK Linked Data Fragments server

Matches in SemOpenAlex for { <https://semopenalex.org/work/W1780372933> ?p ?o ?g. }

• W1780372933 endingPage "36" @default.
• W1780372933 startingPage "19" @default.
• W1780372933 abstract "Credit rating announcements can be for either initial ratings or rating changes, but past research has focused mainly on the market reaction to the latter. This study examines the information content of initial rating announcements and thus fills the void in the literature and broadens our understanding about the informational role played by credit ratings in the market. Using data from Taiwan, a financial market with newly established credit rating system, this study examines the rating announcement effect on firms that receive their first-time ratings from a private rating agency. Contrary to the common belief that investors respond more favorably the higher the rating a firm receives, we show that significant and positive equity price responses occur only for less credit-worthy firms in the market. Counterintuitive as it may seem, our finding is consistent with the prediction of signaling theory. More specifically, our evidence suggests that initial firm ratings do carry information value, but only for lower-quality or smaller-size firms that have been penalized by information asymmetry until credit rating becomes available as a cost-effective signaling alternative. This finding has important implications for many smaller or lower quality firms that traditionally are more reluctant to seek ratings, because signaling through ratings indeed helps reduce information asymmetry and can actually enhance value for these firms." @default.
• W1780372933 created "2016-06-24" @default.
• W1780372933 creator A5037516050 @default.
• W1780372933 creator A5045085424 @default.
• W1780372933 creator A5058878977 @default.
• W1780372933 date "2007-12-31" @default.
• W1780372933 modified "2023-09-27" @default.
• W1780372933 title "The Information Content of Initial Firm Rating Announcements" @default.
• W1780372933 cites W1964003780 @default.
• W1780372933 cites W1993776928 @default.
• W1780372933 cites W1998968611 @default.
• W1780372933 cites W2063309620 @default.
• W1780372933 cites W2064614136 @default.
• W1780372933 cites W2066848285 @default.
• W1780372933 cites W2085189944 @default.
• W1780372933 cites W2115747715 @default.
• W1780372933 cites W2119362097 @default.
• W1780372933 cites W2127680079 @default.
• W1780372933 cites W2148704665 @default.
• W1780372933 cites W2154127363 @default.
• W1780372933 cites W2156109180 @default.
• W1780372933 cites W2166215547 @default.
• W1780372933 cites W2179200719 @default.
• W1780372933 cites W3022041122 @default.
• W1780372933 cites W3125882657 @default.
• W1780372933 cites W1975314818 @default.
• W1780372933 doi "https://doi.org/10.6545/jfs.2007.15(4).2" @default.
• W1780372933 hasPublicationYear "2007" @default.
• W1780372933 type Work @default.
• W1780372933 sameAs 1780372933 @default.
• W1780372933 citedByCount "0" @default.
• W1780372933 crossrefType "journal-article" @default.
• W1780372933 hasAuthorship W1780372933A5037516050 @default.
• W1780372933 hasAuthorship W1780372933A5045085424 @default.
• W1780372933 hasAuthorship W1780372933A5058878977 @default.
• W1780372933 hasConcept C101097943 @default.
• W1780372933 hasConcept C10138342 @default.
• W1780372933 hasConcept C105795698 @default.
• W1780372933 hasConcept C111472728 @default.
• W1780372933 hasConcept C137577040 @default.
• W1780372933 hasConcept C138885662 @default.
• W1780372933 hasConcept C144133560 @default.
• W1780372933 hasConcept C1453916 @default.
• W1780372933 hasConcept C162118730 @default.
• W1780372933 hasConcept C162324750 @default.
• W1780372933 hasConcept C17744445 @default.
• W1780372933 hasConcept C178350159 @default.
• W1780372933 hasConcept C199539241 @default.
• W1780372933 hasConcept C199728807 @default.
• W1780372933 hasConcept C205208723 @default.
• W1780372933 hasConcept C24308983 @default.
• W1780372933 hasConcept C33923547 @default.
• W1780372933 hasConcept C99221444 @default.
• W1780372933 hasConceptScore W1780372933C101097943 @default.
• W1780372933 hasConceptScore W1780372933C10138342 @default.
• W1780372933 hasConceptScore W1780372933C105795698 @default.
• W1780372933 hasConceptScore W1780372933C111472728 @default.
• W1780372933 hasConceptScore W1780372933C137577040 @default.
• W1780372933 hasConceptScore W1780372933C138885662 @default.
• W1780372933 hasConceptScore W1780372933C144133560 @default.
• W1780372933 hasConceptScore W1780372933C1453916 @default.
• W1780372933 hasConceptScore W1780372933C162118730 @default.
• W1780372933 hasConceptScore W1780372933C162324750 @default.
• W1780372933 hasConceptScore W1780372933C17744445 @default.
• W1780372933 hasConceptScore W1780372933C178350159 @default.
• W1780372933 hasConceptScore W1780372933C199539241 @default.
• W1780372933 hasConceptScore W1780372933C199728807 @default.
• W1780372933 hasConceptScore W1780372933C205208723 @default.
• W1780372933 hasConceptScore W1780372933C24308983 @default.
• W1780372933 hasConceptScore W1780372933C33923547 @default.
• W1780372933 hasConceptScore W1780372933C99221444 @default.
• W1780372933 hasIssue "4" @default.
• W1780372933 hasLocation W17803729331 @default.
• W1780372933 hasOpenAccess W1780372933 @default.
• W1780372933 hasPrimaryLocation W17803729331 @default.
• W1780372933 hasRelatedWork W11253300 @default.
• W1780372933 hasRelatedWork W1971150948 @default.
• W1780372933 hasRelatedWork W2059645367 @default.
• W1780372933 hasRelatedWork W2087758894 @default.
• W1780372933 hasRelatedWork W2150174664 @default.
• W1780372933 hasRelatedWork W2205984419 @default.
• W1780372933 hasRelatedWork W2220379915 @default.
• W1780372933 hasRelatedWork W2270308802 @default.
• W1780372933 hasRelatedWork W2402613004 @default.
• W1780372933 hasRelatedWork W2470993200 @default.
• W1780372933 hasRelatedWork W2528182924 @default.
• W1780372933 hasRelatedWork W2568411352 @default.
• W1780372933 hasRelatedWork W2753973283 @default.
• W1780372933 hasRelatedWork W2774447156 @default.
• W1780372933 hasRelatedWork W2899678673 @default.
• W1780372933 hasRelatedWork W3001958201 @default.
• W1780372933 hasRelatedWork W3023411666 @default.
• W1780372933 hasRelatedWork W3122553075 @default.
• W1780372933 hasRelatedWork W3123022706 @default.
• W1780372933 hasRelatedWork W3125094363 @default.
• W1780372933 hasVolume "15" @default.
• W1780372933 isParatext "false" @default.
• W1780372933 isRetracted "false" @default.

• next