Adams, M., Burton, B. and Hardwick, P., 2002. The Determinants of Credit Ratings in the United Kingdom Insurance Industry. Journal of Business Finance & Accounting, 30 (3-4), pp. 539-572.
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Official URL: http://www.blackwell-synergy.com/links/doi/10.1111...
This paper examines the determinants of external credit ratings attained by insurance firms in the United Kingdom (UK) and of the likelihood that insurers will have such an assessment. Using panel data relating to A.M. Bestrated and Standard and Poor's (S&P)rated insurers over the period 1993–1997, a trichotomous logit model and an ordered probit model with sample selection are employed to show that the factors which influence the likelihood of having external credit assessments not only vary between the two agencies but also differ from those which determine the ratings themselves. Our results are shown to be of potential interest to participants in the insurance industry and policymakers alike.
|Subjects:||Social Sciences > Finance and Financial Economics|
|Group:||Business School > Centre for Finance and Risk|
|Deposited By:||INVALID USER|
|Deposited On:||18 Dec 2007|
|Last Modified:||07 Mar 2013 14:34|
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