Financial openness, domestic financial development and credit ratings

Eugenia Andreasen; Patricio Valenzuela

doi:10.1016/j.frl.2015.10.019

Financial openness, domestic financial development and credit ratings

Eugenia Andreasen
, Patricio Valenzuela

Producción científica: Contribución a una revista › Artículo › revisión exhaustiva

38 Citas (Scopus)

Resumen

This article shows that financial openness significantly affects corporate and sovereign credit ratings and that the magnitude of this effect depends on the level of development of the domestic financial market. Issuers located in less financially developed economiesi stand to benefit the most from opening up their capital accounts, whereas the impact of this effect decreases as the level of development of the domestic capital market improves.

Idioma original	Inglés
Páginas (desde-hasta)	11-18
Número de páginas	8
Publicación	Finance Research Letters
Volumen	16
DOI	https://doi.org/10.1016/j.frl.2015.10.019
Estado	Publicada - 1 feb 2016
Publicado de forma externa	Sí

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10.1016/j.frl.2015.10.019

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title = "Financial openness, domestic financial development and credit ratings",

abstract = "This article shows that financial openness significantly affects corporate and sovereign credit ratings and that the magnitude of this effect depends on the level of development of the domestic financial market. Issuers located in less financially developed economiesi stand to benefit the most from opening up their capital accounts, whereas the impact of this effect decreases as the level of development of the domestic capital market improves.",

keywords = "Credit risk, Financial development, Financial liberalization",

author = "Eugenia Andreasen and Patricio Valenzuela",

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year = "2016",

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doi = "10.1016/j.frl.2015.10.019",

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AU - Andreasen, Eugenia

AU - Valenzuela, Patricio

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AB - This article shows that financial openness significantly affects corporate and sovereign credit ratings and that the magnitude of this effect depends on the level of development of the domestic financial market. Issuers located in less financially developed economiesi stand to benefit the most from opening up their capital accounts, whereas the impact of this effect decreases as the level of development of the domestic capital market improves.

KW - Credit risk

KW - Financial development

KW - Financial liberalization

UR - https://www.scopus.com/pages/publications/84962570505

U2 - 10.1016/j.frl.2015.10.019

DO - 10.1016/j.frl.2015.10.019

M3 - Article

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JO - Finance Research Letters

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Financial openness, domestic financial development and credit ratings

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