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dc.contributor.authorMeriläinen Jari-Mikko
dc.contributor.authorJunttila, Juha
dc.date.accessioned2020-09-08T09:53:52Z
dc.date.available2020-09-08T09:53:52Z
dc.date.issued2020
dc.identifier.citationMeriläinen Jari-Mikko, Junttila, Juha. (2020). The relationship between credit ratings and asset liquidity : Evidence from Western European banks. <i>Journal of International Money and Finance</i>, <i>108</i>, Article 102224. <a href="https://doi.org/10.1016/j.jimonfin.2020.102224" target="_blank">https://doi.org/10.1016/j.jimonfin.2020.102224</a>
dc.identifier.otherCONVID_35852773
dc.identifier.urihttps://jyx.jyu.fi/handle/123456789/71688
dc.description.abstractThis study examines the role of asset liquidity in Western European banks’ credit rating downgrades and upgrades over the 2005–2017 period. The results suggest that changes in bank credit ratings have been more favorable for banks that have a liquid asset portfolio. Furthermore, asset liquidity has a stronger effect on the credit rating of banks that already have an illiquid asset portfolio. In contrast, the effect is significantly smaller or nonexistent for the most liquid banks. These results imply that the new liquidity regulation introduced by the Basel III requirements will improve the stability and hence decrease the fragility of the European banking sector. Furthermore, the benefits are highest for the most illiquid banks. In addition, the sovereign credit rating pass-through effect is strongest for illiquid banks.en
dc.format.mimetypeapplication/pdf
dc.languageeng
dc.language.isoeng
dc.publisherElsevier
dc.relation.ispartofseriesJournal of International Money and Finance
dc.rightsCC BY-NC-ND 4.0
dc.subject.otherbanks
dc.subject.otherliquidity
dc.subject.othercredit ratings
dc.subject.othersovereign effect
dc.titleThe relationship between credit ratings and asset liquidity : Evidence from Western European banks
dc.typearticle
dc.identifier.urnURN:NBN:fi:jyu-202009085796
dc.contributor.laitosKauppakorkeakoulufi
dc.contributor.laitosSchool of Business and Economicsen
dc.contributor.oppiaineBasic or discovery scholarshipfi
dc.contributor.oppiaineTaloustiedefi
dc.contributor.oppiaineBasic or discovery scholarshipen
dc.contributor.oppiaineEconomicsen
dc.type.urihttp://purl.org/eprint/type/JournalArticle
dc.description.reviewstatuspeerReviewed
dc.relation.issn0261-5606
dc.relation.volume108
dc.type.versionacceptedVersion
dc.rights.copyright© 2020 Elsevier
dc.rights.accesslevelopenAccessfi
dc.subject.ysoluottokelpoisuus
dc.subject.ysoluottoluokitukset
dc.subject.ysosuvereniteetti
dc.subject.ysopankit
dc.subject.ysomaksuvalmius
dc.format.contentfulltext
jyx.subject.urihttp://www.yso.fi/onto/yso/p3598
jyx.subject.urihttp://www.yso.fi/onto/yso/p24743
jyx.subject.urihttp://www.yso.fi/onto/yso/p10673
jyx.subject.urihttp://www.yso.fi/onto/yso/p1099
jyx.subject.urihttp://www.yso.fi/onto/yso/p11267
dc.rights.urlhttps://creativecommons.org/licenses/by-nc-nd/4.0/
dc.relation.doi10.1016/j.jimonfin.2020.102224
jyx.fundinginformationThe OP-Group Research Foundation, Savings Banks Research Foundation, Foundation for Economic Education, and Evald and Hilda Nissi Foundation financially supported this work.


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