Κατεύθυνση Διαχείρισης Κεφαλαίων και Κινδύνων
Library of the Faculty of Economics and of the Faculty of Business Administration

2019-11-19

2019

Fasouli Iliana

Γεώργιος Χορταρέας, Αναπληρωτής Καθηγητής, Τμήμα Οικονομικών Επιστήμων ,Εθνικό και Καποδιστριακό Πανεπιστήμιο Αθηνών,

Ο ρόλος των οίκων αξιολόγησης κατά την διάρκεια της χρηματοπιστωτικής κρίσης στην Ελλάδα. Οι συνέπειες στο Ελληνικό τραπεζικό σύστημα

Greek

The role of credit rating agencies during the Greek crisis. The effects on the Greek banking system.

The Greek economy is connected both directly and indirectly with the banking system. As a result of the recent global financial crisis and especially that in Greece, it became urgent for the banking system to be protected for similar future events. The purpose of this dissertation is to examine the role of credit rating agencies during the Greek crisis. In other words, it is explored the impact of credit rating changes published by the biggest European -Moody’s, Standard & Poor’s, Fitch- on the stocks of the four systemic Greek banks – Piraeus Bank, Eurobank, National Bank of Greece and Alpha Bank- during 2004-2018 using panel data regression. The results indicated that the rating announcements related to the Greek 10year Government Bond had the most significant effect on the banking stocks, especially the downgrades. The market has also been affected by the credit rating announcements about both government bond and banking creditworthiness.

Social, Political and Economic sciences

crisis,Greek economy, banking system, credit rating agencies, Moody’s, Standard & Poor’s, Fitch , Piraeus Bank, Eurobank, National Bank of Greece, Alpha Bank, banking stocks ,credit rating announcements,

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https://pergamos.lib.uoa.gr/uoa/dl/object/2885391