The DOI matches its Crossref record; 46 of the 46 references it cites were found in a registry or an index.
The Real Effects of Credit Ratings: The Sovereign Ceiling Channel
Open accessAbstract
We show that sovereign debt impairments can have a significant effect on financial markets and real economies through a credit ratings channel. Specifically, we find that firms reduce their investment and reliance on credit markets due to a rising cost of debt capital following a sovereign rating downgrade. We identify these effects by exploiting exogenous variation in corporate ratings due to rating agencies' sovereign ceiling policies, which require that firms' ratings remain at or below the sovereign rating of their country of domicile.
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How Much Should We Trust Differences-in-Differences Estimates?
Bertrand, M., Duflo, E., & Mullainathan, S. (2004) · The Quarterly Journal of Economics · doi:10.1162/003355304772839588 · Cited by 10,641
The theory and practice of corporate finance: evidence from the field
Graham, J. R., & Harvey, C. R. (2001) · Journal of Financial Economics · doi:10.1016/s0304-405x(01)00044-7 · Cited by 5,939
This Time Is Different: Eight Centuries of Financial Folly
Reinhart, C. M., & Rogoff, K. S. (2009) · Princeton University Press eBooks · doi:10.1515/9781400831722 · Cited by 3,390
Endogeneity in Empirical Corporate Finance1
Roberts, M. R., & Whited, T. M. (2013) · Handbook of the Economics of Finance · doi:10.1016/b978-0-44-453594-8.00007-0 · Cited by 2,459
This Time Is Different: Eight Centuries of Financial Folly
REINHART, C. M., & ROGOFF, K. S. (2009) · Princeton University Press eBooks · doi:10.2307/j.ctvcm4gqx · Cited by 2,357
Characterizing Selection Bias Using Experimental Data
Heckman, J., Ichimura, H., Smith, J., & Todd, P. (1998) · Econometrica · doi:10.2307/2999630 · Cited by 2,286
Back to the Beginning: Persistence and the Cross‐Section of Corporate Capital Structure
LEMMON, M. L., ROBERTS, M. R., & ZENDER, J. F. (2008) · The Journal of Finance · doi:10.1111/j.1540-6261.2008.01369.x · Cited by 1,844
Chodorow-Reich, G. (2014) · The Quarterly Journal of Economics · doi:10.1093/qje/qjt031 · Cited by 1,503
Do Firms Rebalance Their Capital Structures?
LEARY, M. T., & ROBERTS, M. R. (2005) · The Journal of Finance · doi:10.1111/j.1540-6261.2005.00811.x · Cited by 1,489
Bias-Corrected Matching Estimators for Average Treatment Effects
Abadie, A., & Imbens, G. W. (2011) · Journal of Business & Economic Statistics · doi:10.1198/jbes.2009.07333 · Cited by 1,416
Cited by
Internet searching and stock price crash risk: Evidence from a quasi-natural experiment
Xu, Y., Xuan, Y., & Zheng, G. (2021) · Journal of Financial Economics · doi:10.1016/j.jfineco.2021.03.003 · Cited by 269
Metadata
- Authors
- ALMEIDA, H., CUNHA, I., FERREIRA, M. A., & RESTREPO, F.
- Venue
- The Journal of Finance
- Publisher
- Wiley
- Published
- 2017-01-12
- Volume
- 72
- Issue
- 1
- Pages
- 249-290
- ISSN
- 0022-1082 (ISSN-L)
- 1540-6261
- OpenAlex
- W3123460634
- Cited by
- 336
- References
- 46
- FWCI
- 55.06
- Type
- journal article
- Language
- en
- Open access
- green
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- ALMEIDA, H., CUNHA, I., FERREIRA, M. A., & RESTREPO, F. (2017). The Real Effects of Credit Ratings: The Sovereign Ceiling Channel. The Journal of Finance. https://doi.org/10.1111/jofi.12434
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