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Význam investičního ratingu a mezinárodních ratingových agentur pro stabilitu mezinárodních finančních trhů / The Importance of Credit Rating and Credit Rating Agencies on the Stability of International Financial Markets

Credit rating agencies judge the creditworthiness of the debtors and debt obligations and the relative probability of their default. Credit rating plays a very important role in the financial markets. It influences the behavior of all participants (investors, debtors and regulators) of the market transactions. The first part of the thesis deals with definition and function of the credit rating. The main controversial points in the activity of the credit rating agencies will be discussed, as well as how the industry is regulated. In the second part it is claimed that the opinions of the credit rating agencies on sovereign bonds (sovereign rating) contribute to the overheating of the economies or to the deeper recession due to procyclicity of the rating. The actual credit rating of the country will be compared with a rating based on a theoretical model designed with publicly available economic data.

Identiferoai:union.ndltd.org:nusl.cz/oai:invenio.nusl.cz:75407
Date January 2010
CreatorsBúry, Jan
ContributorsKalínská, Emílie, Čajka, Radek
PublisherVysoká škola ekonomická v Praze
Source SetsCzech ETDs
LanguageCzech
Detected LanguageEnglish
Typeinfo:eu-repo/semantics/masterThesis
Rightsinfo:eu-repo/semantics/restrictedAccess

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