Abstract
Referring to the role credit-rating agencies played in the most recent global financial crisis, the Financial Crisis Inquiry Commission – FCIC concluded that “… the failures of credit rating agencies were essential cogs in the wheel of financial destruction.” The reasons for such failures include changes in technology, the rapid transformation of market structure, volume of business and complexity of financial instruments to be rated by these entities. These changes started in the late 1990s and culminated in the 2000 – 2007 period, but the consequences of such failures have pervaded global markets until recently. In addition to describing trends and circumstances surrounding these agencies during the global financial crisis, this study analyzes behavioral themes that intervened in the events and influenced the development of undesirable outcomes to the agencies and their clients.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
