Credit Ratings and Capital Structure

By Darren J. Kisgen. 2006

815 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/be6d411165d083606d5adb35d3b33b935418de7d

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Citations in the corpus

Have Rating Agencies Become More Conservative? Implications for Capital Structure and Debt Pricing (2013, methodology): “For example, Kisgen (2006) shows that firms pay close attention to credit ratings in their capital structure decisions; those firms close to a downgrade or upgrade issue less debt than firms not near a change in ratings.”
The role of rating agencies in the market for charitable contributions: An empirical test (2009, background): “Kisgen (2006) finds that firms will alter their capital structures in advance of”
Does It Matter Who Pays for Bond Ratings? Historical Evidence (2010, neutral): “A similar requirement for bond rating agencies could increase transparency in the rating industry.”
Does the Source of Capital Affect Capital Structure (2003, neutral): “This number is similar to what Kisgen (2004) and Leary and Roberts (2005) find in their respective samples.”
Do Regulations Based on Credit Ratings Affect a Firm's Cost of Capital? (2010, neutral): “Kisgen (2006) finds that a firm that is near a credit rating change is more likely to undertake leverage-reducing activity.”
Policy Risk, Corporate Political Strategies, and the Cost of Debt (2016, background): “8 See Boot, Milbourn, and Schmeits (2006), Kliger and Sarig (2000), Kisgen (2006, 2009), and Kisgen and Strahan (2010) for studies recognizing the importance of credit ratings.”
How Did Increased Competition Affect Credit Ratings (2011, neutral): “19 See “Speech by SEC Commissioner: Remarks to the Institute of International Bankers”, by SEC Commissioner Paul S. Atkins, March 3, 2008.”
Credit Ratings as Coordination Mechanisms (2006, background): “Also the behavior of firms suggests that credit ratings are really important, for example, Kisgen (2005) shows that firms adjust their capital structure to maintain a particular bond rating.”
Earnings Smoothing Activities of Firms to Manage Credit Ratings (2012, background): “Both Kisgen (2006) and Shah (2008) provide evidence that firms with plus or minus notch ratings engage in real activities to preserve or improve their ratings.”
The Real Consequences of Market Segmentation (2012, background): “A large number of regulations, investment charters, and contracts reference this distinction, and recent research suggests that it can affect firms’ capital structure and cost of capital (Kisgen, 2006; Kisgen and Strahan, 2009; Ellul, Jotikasthira, and Lundblad, 2010).”
Feedback effects of credit ratings (2013, background): “Kisgen (2007) describes in more detail the channels through which credit ratings affect the cost of capital for a borrower.”