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dc.contributor.authorApergis, Nicholas
dc.date.accessioned2019-01-26T14:34:39Z
dc.date.available2019-01-26T14:34:39Z
dc.date.issued2015-01-09
dc.identifier.citationApergis, N. (2015) 'Newswire messages and sovereign credit ratings: Evidence from European countries under austerity reform programmes', International Review of Financial Analysis, 39, pp.54-62.en_US
dc.identifier.issn1057-5219
dc.identifier.doi10.1016/j.irfa.2015.01.003
dc.identifier.urihttp://hdl.handle.net/10545/623390
dc.description.abstractThe paper examines the role of newswire messages during the European debt crisis. In particular, this study quantifies how this news metric, revealed by statements electronically recorded, as well as by newspaper articles, affects credit ratings. Through a sample of three European countries with sovereign debt problems and under strict austerity programmes, i.e., Greece, Ireland, and Portugal, daily data spanning the period of 2009 to 2011, and parametric, nonparametric and ordered probit panel methodologies, the obtained results document that the news variable significantly affects credit ratings, particularly when news comes from market sources but less so when the news is from politicians.en_US
dc.description.sponsorshipN/Aen_US
dc.language.isoenen_US
dc.publisherElsevieren_US
dc.relation.urlhttps://www.sciencedirect.com/science/article/pii/S1057521915000137en_US
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/4.0/*
dc.subjectNewswire messagesen_US
dc.subjectCredit ratingsen_US
dc.subjectEuropean countriesen_US
dc.subjectSovereign debt problemsen_US
dc.titleNewswire messages and sovereign credit ratings: Evidence from European countries under austerity reform programmes.en_US
dc.typeArticleen_US
dc.contributor.departmentCurtin Universityen_US
dc.identifier.journalInternational Review of Financial Analysisen_US
dcterms.dateAccepted2015-01-03


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