The effect of industry and corporate characteristics on bond rating

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989100%3A27510%2F15%3A86093610" target="_blank" >RIV/61989100:27510/15:86093610 - isvavai.cz</a>

Výsledek na webu

<a href="http://cesmaa.eu/journals/jaes/files/JAES_spring%202(32).pdf" target="_blank" >http://cesmaa.eu/journals/jaes/files/JAES_spring%202(32).pdf</a>

DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

The effect of industry and corporate characteristics on bond rating

Popis výsledku v původním jazyce

The objective of the paper is to analyse the effect of selected quantitative and qualitative variables on corporate bond rating. The primary focus is paid to the application of ordinal logistic regression and estimation of three models that are derived on the basis of macroeconomic, industry and financial variables. The overall results suggest that there are sectors with a higher probability of better rating assessment. Based on the analysis, we can conclude that although there is a significant association between industry sector and bond rating, the most significant predictors of rating are financial indicators of size and profitability of firms. The results of the analysis should be taken into account when the primary interest is to assess unrated companies or to evaluate the impact of financial performance on current rating.

Název v anglickém jazyce

The effect of industry and corporate characteristics on bond rating

Popis výsledku anglicky

The objective of the paper is to analyse the effect of selected quantitative and qualitative variables on corporate bond rating. The primary focus is paid to the application of ordinal logistic regression and estimation of three models that are derived on the basis of macroeconomic, industry and financial variables. The overall results suggest that there are sectors with a higher probability of better rating assessment. Based on the analysis, we can conclude that although there is a significant association between industry sector and bond rating, the most significant predictors of rating are financial indicators of size and profitability of firms. The results of the analysis should be taken into account when the primary interest is to assess unrated companies or to evaluate the impact of financial performance on current rating.

Druh

J_x - Nezařazeno - Článek v odborném periodiku (Jimp, Jsc a Jost)

CEP obor

AE - Řízení, správa a administrativa

OECD FORD obor

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Projekt

<a href="/cs/project/EE2.3.20.0296" target="_blank" >EE2.3.20.0296: Výzkumný tým pro modelování ekonomických a finančních procesů na VŠB-TU Ostrava</a><br>

Návaznosti

P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)<br>S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2015

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

Journal of Applied Economic Sciences

ISSN

1843-6110

e-ISSN

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Svazek periodika

10

Číslo periodika v rámci svazku

2

Stát vydavatele periodika

RO - Rumunsko

Počet stran výsledku

11

Strana od-do

223-233

Kód UT WoS článku

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EID výsledku v databázi Scopus

2-s2.0-84929338524