Vivian van Breemen

122 European Securities and Markets Authorities. (2018). Report on CRA market share calculation. https://www.esma.europa.eu/sites/default/files/library/cra_ market_share_calculation_2018.pdf Fabozzi, F. J., Nawas, M. E., & Vink, D. (2017). Exploring rating shopping for European triple a senior structured finance securities. Finance Research Letters, 20, 35– 39. https://doi.org/10.1016/j.frl.2016.08.013 Fahad, N. U., & Laura, M. L. (2017). Complexity in structured finance and difficulties faced by market participants - A critical assessment of the role of the complexity in financial crisis. Asian Economic and Financial Review, 7(9), 907–920. https:// doi.org/10.18488/journal.aefr.2017.79.907.920 Flynn, S., & Ghent, A. (2018). Competition and credit ratings after the fall. Management Science, 64(4), 1477–1973. https://doi.org/10.1287/mnsc.2016.2604 Furfine, C. H. (2014). Complexity and loan performance: Evidence from the securitization of commercial mortgages. The Review of Corporate Finance Studies, 2(2), 154– 187. https://doi.org/10.1093/rcfs/cft008 Ghent, A. C., Torous, W. N., & Valkanov, R. I. (2019). Complexity in structured finance. The Review of Economic Studies, 86(2), 694–722. https://doi.org/10.1093/restud/ rdx071 Golan, L., Parlour, C. A., & Rajan, U. (2014). Competition, managerial slack, and corporate governance. Review of Corporate Finance Studies, 4(1), 43–68. https://doi. org/10.1093/rcfs/cfu011 Griffin, J. M., & Tang, D. Y. (2012). Did subjectivity play a role in CDO credit ratings? The Journal of Finance, 67(4), 1293–1328. https://doi.org/10.1111/j.1540- 6261.2012.01748.x Griffin, J. M., Nickerson, J., & Tang, D. Y. (2013). Rating shopping or catering? An examination of the response to competitive pressure for CDO credit ratings. Review of Financial Studies, 26(9), 2270–2310. https://doi.org/10.1093/rfs/ hht036 Güntay, L., & Hackbarth, D. (2010). Corporate bond credit spreads and forecast dispersion. Journal of Banking & Finance, 34(10), 2328–2345. https://doi. org/10.1016/j.jbankfin.2010.02.019 Haan, J. de, & Amtenbrink, F. (2011). Credit rating agencies [Working paper]. DNB Working Paper No. 278. https://doi.org/10.2139/ssrn.1760951 He, J., Qian, J., & Strahan, P. E. (2011). Credit ratings and the evolution of the mortgagebacked securities market. American Economic Review, 101(3), 131–135. https://doi.org/10.1257/aer.101.3.131 He, J. J., Qian, J. Q., & Strahan, P. E. (2012). Are all ratings created equal? The impact of issuer size on the pricing of mortgage-backed securities. The Journal of Finance, 67(6), 2097–2137. https://doi.org/10.1111/j.1540-6261.2012.01782.x He, J. J., Qian, J. Q. J., & Strahan, P. E. (2016). Does the market understand rating shopping? Predicting MBS losses with initial yields. Review of Financial Studies, 29(2), 457–485. https://doi.org/10.1093/rfs/hhv067 Iannotta, G. (2006). Testing for opaqueness in the European banking industry: Evidence from bond credit ratings. Journal of Financial Services Research, 30(3), 287–309. https://doi.org/10.1007/s10693-006-0420-y

RkJQdWJsaXNoZXIy MTk4NDMw