It takes the average reader and 30 minutes to read Bank Rating Changes and Bank Stock Returns—Puzzling Evidence from the Emerging Markets by Mr.Anthony J. Richards
Assuming a reading speed of 250 words per minute. Learn more
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 cumulative abnormal returns for banks, although upgrades have not followed periods of positive returns. More important, stock prices either do not respond to rating changes or respond in the opposite direction to what would be expected if announcements conveyed value-relevant information. The paper concludes that there are limits to the extent that supervisors in emerging markets can rely on market participants to monitor the safety and soundness of banks.
Bank Rating Changes and Bank Stock Returns—Puzzling Evidence from the Emerging Markets by Mr.Anthony J. Richards is 29 pages long, and a total of 7,511 words.
This makes it 10% the length of the average book. It also has 9% more words than the average book.
The average oral reading speed is 183 words per minute. This means it takes and 41 minutes to read Bank Rating Changes and Bank Stock Returns—Puzzling Evidence from the Emerging Markets aloud.
Bank Rating Changes and Bank Stock Returns—Puzzling Evidence from the Emerging Markets is suitable for students ages 8 and up.
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