Do Solicitations Matter in Bank Credit Ratings? Results from a Study of 72 Countries
研究银行主动申请评级是否会影响其信用评级，使用72个国家460家银行的数据，发现主动申请和财务状况共同解释评级差异。
Would the credit ratings of unsolicited banks be higher if they were solicited? Alternatively, would the credit ratings of solicited banks would be lower if they were unsolicited? To answer these questions, we use an endogenous regime‐switching model and data from 460 commercial banks in 72 countries, excluding the United States, for the period 1998–2003. The answer to both questions is yes. Our results show that the observed differences between solicited and unsolicited ratings can be explained by both the solicitation status and financial profile of the banks. This finding is a new contribution to the literature.