Reforming Rating Agencies

Philippe Raimbourg (1, 2, 3) , Federica Salvadè (3, 2)

1 PRISM Sorbonne - Pôle de recherche interdisciplinaire en sciences du management
2 UP1 - Université Paris 1 Panthéon-Sorbonne
3 LABEX Refi

Rating agencies have been under the spotlight since the beginning of the century. Financial disasters and the subprime crisis of 2008 brought about the birth of such preoccupations as many investors and regulators became sceptical about their activities. In this chapter, the authors highlight the main characteristics of this activity, sum up the criticisms they had to face, analyse the usefulness of the agencies for investors and the financial market as a whole, and present some possible paths for reforming rating agencies.

Domains: Humanities and Social Sciences; Economics and Finance

Philippe Raimbourg, Federica Salvadè. Reforming Rating Agencies. Financial Regulation in the EU, Springer International Publishing, pp.309-319, 2017, ⟨10.1007/978-3-319-44287-7_12⟩. ⟨hal-04011057⟩