A Re-Examination of Rating Shopping and Catering Using Post-Crisis Data on CDOs
13 Pages Posted: 25 Aug 2016
Date Written: August 23, 2016
Abstract
We re-examine rating shopping and catering among CDOs by replicating a portion of Griffin, Nickerson, and Tang (2013) using post-crisis data. Our results are consistent with continued rating shopping and diminished rating catering behavior after the great financial crisis.
Keywords: collateralized debt obligations, credit rating agencies, credit spread, rating shopping, rating catering
JEL Classification: G14, G24, G28
Suggested Citation: Suggested Citation
Owlett, Robert and Yu, Fan, A Re-Examination of Rating Shopping and Catering Using Post-Crisis Data on CDOs (August 23, 2016). Claremont McKenna College Robert Day School of Economics and Finance Research Paper No. 2828789, Available at SSRN: https://ssrn.com/abstract=2828789 or http://dx.doi.org/10.2139/ssrn.2828789
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