Unit:
Κατεύθυνση ΛογιστικήLibrary of the Faculty of Economics and of the Faculty of Business Administration
Supervisors info:
Σπύρος Γεωργαντέλης, Διδάκτωρ, ΕΚΠΑ
Original Title:
Το μοντέλο του οίκου Moody’s για την αξιολόγηση της πιστοληπτικής ικανότητας των κρατών - Μελέτη περίπτωσης: οι χώρες P.I.G.S.
Translated title:
Moody's Model of States' Credit Rating - Case Study: P.I.G.S.
Summary:
It is a fact that in the last decade, the activity of rating agencies is being discussed, commented and monitored with special attention by specialists, government agencies, institutions, investors even by ordinary citizens. The rating agencies that have had so far a prominent position on the global financial markets, understood how much they can influence the economies of the states. The role and interests they serve though can be challenged at all times. So, from knowledge to a few, the role and function of credit rating agencies has been at the forefront and in the general public. The debate was broadened to include all those doubts and criticism as to whether the evaluations of rating agencies are ultimately likely to affect investors or shake the economies of the states. The impartiality and the right management of their power were judged very strictly. The scientific methodology on which the agencies rate firms and states have been questioned in depth.
This research project aimed at examining the impact of evaluations by rating agencies and, in particular, on Moody's for the countries of the European South. The evaluations made both before and during the crisis were assessments according to a particular model for each of these countries? Many have argued that the evaluators did not maintain a stable model for each country, which has exacerbated and deepened the crisis in the countries already struck by it. Others have argued that the rating model has brought a large element of subjectivity that has changed balance and has also hampered the economies of the countries.
In this study, we made a major effort to build an econometric model for each country, very close to the real one, to verify or reject the above critique.
Main subject category:
Social, Political and Economic sciences
Keywords:
credit rating agencies, economic crisis, European South, P.I.G.S., evaluation models
File:
File access is restricted only to the intranet of UoA.
ΜΑΡΙΑ ΚΑΤΣΑΚΟΥ.pdf
2 MB
File access is restricted only to the intranet of UoA.
