DID FOREIGN OWNERSHIP OF KOREAN CREDIT RATING AGENCIES IMPROVE THEIR RATINGS?

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In this study, we investigate whether foreign equity participation fostered the growth of Korea's credit rating industry during the 2002-2013 period. We find that the rating quality deteriorated steadily even though the foreign ownership of Korea's credit rating agencies increased: Rating levels went up. Our analysis indicates that the Korean government's policy of gradually relaxing the restrictions on foreign ownership of local credit rating agencies was ineffectual.
Publisher
WILEY-BLACKWELL
Issue Date
2017-01
Language
English
Article Type
Article
Keywords

INVESTMENT

Citation

CONTEMPORARY ECONOMIC POLICY, v.35, no.1, pp.193 - 200

ISSN
1074-3529
DOI
10.1111/coep.12176
URI
http://hdl.handle.net/10203/214375
Appears in Collection
MT-Journal Papers(저널논문)
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