University of Sydney Business School: Recent submissions
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Loan syndication under Basel II: How do firm credit ratings affect the cost of credit?
Published 2021This paper investigates how lenders react to borrowers’ rating changes under heterogeneous conditions and different regulatory regimes. Our findings suggest that corporate downgrades that increase capital requirements for ...Open AccessArticle -
The Game Changer: Regulatory Reform and Multiple Credit Ratings
Published 2021This paper examines the change in the regulatory use of multiple credit ratings after the Dodd-Frank Act (Dodd-Frank). We find that post Dodd-Frank reform, firms are less likely to demand a third rating (typically from ...Open AccessArticle -
Mind the Sovereign Ceiling on Corporate Performance
Published 2022We find direct evidence that sovereign default risk has a negative impact on corporate performance via a rating spillover channel. Difference-in-differences tests exploiting the heterogeneity in corporate credit ratings ...Open AccessArticle -
The real impact of ratings-based capital rules on the finance-growth nexus
Published 2021We investigate whether ratings-based capital regulation has affected the finance-growth nexus via a foreign credit channel. Using quarterly data on short to medium term real GDP growth and cross-border bank lending flows ...Open AccessArticle -
What have we learned about long term structural change brought about by COVID-19 and working from home?
Published 2022-12-20March 2020 will forever be etched in our minds as the beginning of what has become the most concerning health pandemic faced by all generations of the living population. Almost two-and-three quarter years on, we are starting ...Open AccessWorking Paper