Impacts Of Credit Rating Announcements On Share Price In The NASDAQ Market And The Role Of The Credit Rating Agencies
The purpose of this paper is to investigate the response of the stock prices of firms based on NASDAQ Select Market, during the Credit Rating Announcements made by one of the major rating agencies, Standard and Poor’s, before and after the Great Financial Crisis of 2007-2008. The test procedure is the application of the event study by which we are going to investigate whether or how much the marke