Credit Rating Over-Reliance in Asset Management
ISBN:
978-3-7560-1335-7
Verlag:
Nomos
Land des Verlags:
Deutschland
Erscheinungsdatum:
27.12.2023
Reihe:
Studien zum Bank- und Börsenrecht
Format:
Softcover
Seitenanzahl:
262
Lieferung in 3-4 Werktagen
Versandkostenfrei ab 40 Euro in Österreich
The 2008 financial crisis brought the far-reaching influence of credit ratings on capital markets into focus and confirmed doubts about the quality of ratings published by rating agencies. In the context of regulatory efforts to limit the influence of ratings, Marius Müller addresses the question to what extent investment funds are obliged to sell bonds that no longer comply with investment guidelines following a rating downgrade. Results of a statistical analysis of 200 European and U.S. fund prospectuses are evaluated in the light of regulatory objectives. Subsequently, a structural proposal for the formulation of investment guidelines is developed, accounting for the protection of investor interests and market functioning.
Schlagwörter
USA
Europa
Europe
Investmentfonds
Regulierungsrecht
Ratingagenturen
ratings
credit ratings
regulatory law
Bewertungen
Wirtschaftsanalyse
market functioning
sales of graded bonds
Verkauf von abgestuften Anleihen
Qualitätszweifel
quality doubts
Marktfunktionierung
mutual fund prospectus
Kreditbewertungsüberrelianz
Kreditbewertungen
Investmentfondsprospekte
investor interests
investment directive
Investitionsrichtlinie
influence limits on ratings
Einflussbegrenzung von Bewertungen
credit rating over-reliance
Anlegerinteressen
Global, Regional and Local Perspectives on the Economies of Southeastern Europe
Erscheinungsjahr:
2024
