TITLE

Rating Agencies - General Issues and Potential Solutions

AUTHOR(S)
Minescu, Ana-Maria
PUB. DATE
June 2010
SOURCE
Petroleum - Gas University of Ploiesti Bulletin, Economic Scienc;2010, Vol. 62 Issue 2, p110
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
The paper highlights various issues related to rating agencies (ratings failure, revenue bias, increased use of ratings in the investment community to the extent of dependency on them, incompleteness of the analysis behind the rating process and the inability of ratings to predict financial crises) and provides a synthesis of the potential solutions advanced by the existing literature. Such solutions include: solving the rating agencies' conflicts of interest, reducing competition among rating agencies, switching to the "investor pays" model, and holding the agencies responsible for mistakes in the rating process.
ACCESSION #
52918251

 

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