Η πιστοληπτική αναβάθμιση των τραπεζών σηματοδοτεί καλύτερες χρηματοοικονομικές επιδόσεις
KeywordsΑσύμμετρη πληροφόρηση ; Πιστοληπτική ικανότητα ; Αξιολόγηση ; Διαφορετικές αξιολογήσεις ; Τραπεζική λογιστική ; Ρευστότητα ; Κέρδος ; Μεταβλητές (Μαθηματικά) ; Οικονομετρικά υποδείγματα ; CAMELS
This thesis examines the relationship between the credit rating of banks and their performance. The target of this research was to examine whether the credit rating upgrade declares improvement regarding a bank’s performance. Firstly, there is a reference to the role of information in order to understand the structure of the financial system and the position of financial institutions, such as banks, within it. Then we analyze credit ratings, the evaluation systems used by companies and the importance of the determinants through a historical re-view and empirical studies that have taken place. Then there is an analysis regarding the role that the following play in the process: "solicited vs unsolicited credit ratings", "split ratings" and "upgrades vs downgrades" in order to have an overview of how performance of a bank is affected in a possible upgrade or vice versa. The results of the empirical analysis show that an upgrade regarding a bank's creditworthiness gets along with higher the return on assets. Finally, in order to understand the banking system and its connection with the evaluations, we refer to the inverse relationship not only between liquidity and profitability, but also to the incentives regarding the manipulation of earnings by banks.