A multivariate study of Spanish bond ratings

A multivariate study of Spanish bond ratings

0.00 Avg rating0 Votes
Article ID: iaor19971427
Country: United Kingdom
Volume: 24
Issue: 4
Start Page Number: 451
End Page Number: 462
Publication Date: Aug 1996
Journal: OMEGA
Authors: , ,
Keywords: statistics: multivariate
Abstract:

This paper analyses the ratings given in 1993 to the main Spanish banks, both private and governmental. It uses 24 financial ratios obtained from the balance and the profit and loss accounts. Multidimensional scaling, a multivariate technique which is intuitive and robust to the data, forms the basis of the study. This is complemented with other multivariate statistical techniques such as cluster analysis, property fitting and discriminant analysis. The results identify the financial information that has been used by the rating agency. They also confirm the conjecture that other factors, such as the public or private character of the institution, have also been taken into account by the rating agents.

Reviews

Required fields are marked *. Your email address will not be published.