We investigate the nascent but fast-growing Chinese bond market and credit rating industry.
We find Chinese bond ratings are informative and significantly correlated with bond offering …

A split bond rating occurs when Moody's and Standard & Poor give different ratings to the
same issue. We examine 1,277 public industrial bond issues, where 221 have split ratings, …

This paper examines the relationships between split ratings and ratings migration. We find
that bonds with split ratings are more likely to have future rating changes. A one-notch (more-…

This paper examines the relationship between split bond ratings and bond yields at the
notch level for newly issued corporate bonds. We find that split rated bonds average a 7‐basis‐…

We examine the relation between asset opaqueness and split ratings. We find that firms with
asset opaqueness problems are more likely to receive split bond ratings from Moody s and …

Many individuals purchase shares in mutual funds as investments. With a lack of evidence
supporting performance persistence in fund returns, investors should consider expenses as a …

We examine the relative impact of Moody's and S&P ratings on bond yields and find that at
issuance, yields on split rated bonds with superior Moody's ratings are about 8 basis points …

We examine the impact of investment banker prestige on underwriter spreads, offering
yields, and other expenses for 2,449 nonconvertible industrial debt issues offered during the …

Previous research has found that the bond market values the ratings of Moody's and
Standard & Poor's. This paper extends earlier research by comparing the ratings of Moody's, …

… Miles Livingston is a Professor at the University of Florida. Lei Zhou is an Assistant … BBB =
1 if the issue is rated B by both Moody's and S&P and zero otherwise, BBB/BB = 1 if the issue is …