期刊名称：International Journal of Accounting and Economics Studies
电子版ISSN：2309-4508
出版年度：2015
卷号：3
期号：1
页码：78-85
DOI：10.14419/ijaes.v3i1.4631
出版社：Journal of Advanced Computer Science & Technology
摘要：In this paper, we examine the impact that various financial and business profile variables have on credit ratings issued for the S&P500 firms by Moody’s. Our ordered probit model indicates that firms’ financial policy, size, liquidity, interest and debt coverage have the most pronounced effect on credit ratings. Our results show that different coefficients are associated to the increments of interest and debt coverage ratios. Business profile variables are not significant. Liquidity variable is also a significant determinant of the issuer long-term credit rating and not just the short term one.
关键词：Credit Ratings;Determinants;Interest and Debt Coverage;Ordered Probit Model.
