Title
The effect of commercial paper rating changes and credit-watch placement on common stock prices
Abstract
The common stock price response to the announcement by Standard and Poor of CreditWatch placement and commercial paper reratings is examined. Results indicate a negative stock price response to negative placements on the CreditWatch list and to commercial paper rating reductions. A cross-sectional model is estimated to identify firm characteristics associated with the stock market response.
Department(s)
Finance and General Business
Document Type
Article
DOI
https://doi.org/10.1111/j.1540-6288.1996.tb00868.x
Publication Date
1-1-1996
Recommended Citation
Elayan, Fayez A., Brian A. Maris, and Philip J. Young. "The Effect of Commercial Paper Rating Changes and Credit‐Watch Placement on Common Stock Prices." Financial Review 31, no. 1 (1996): 149-167.
Journal Title
Financial Review
