alexa Sovereign Credit Rating Changes and its Impact on Financial Markets of Europe During Debt Crisis Period (Greece, Ireland) | OMICS International| Abstract
ISSN: 2167-0234

Journal of Business & Financial Affairs
Open Access

Our Group organises 3000+ Global Conferenceseries Events every year across USA, Europe & Asia with support from 1000 more scientific Societies and Publishes 700+ Open Access Journals which contains over 50000 eminent personalities, reputed scientists as editorial board members.

Open Access Journals gaining more Readers and Citations
700 Journals and 15,000,000 Readers Each Journal is getting 25,000+ Readers

This Readership is 10 times more when compared to other Subscription Journals (Source: Google Analytics)
  • Research Article   
  • J Bus Fin Aff 2017, Vol 6(4): 304
  • DOI: 10.4172/2167-0234.1000304

Sovereign Credit Rating Changes and its Impact on Financial Markets of Europe During Debt Crisis Period (Greece, Ireland)

Masood O, Fahad Bashir* and Sahi AL
Lahore School of Accountancy, , Lahore, Pakistan
*Corresponding Author : Fahad Bashir, Mphil Scholar, Lahore School of Accountancy, Lahore, Pakistan, Tel: +923338578128, Email: [email protected]

Received Date: Oct 14, 2017 / Accepted Date: Nov 21, 2017 / Published Date: Nov 29, 2017

Abstract

The purpose of this study is to examine the impact of sovereign credit rating changes on financial markets using database of two countries (Greece, Ireland) in the European union over the period March 2008-Dec 2015. By analyzing the influence of sovereign credit rating on bond market yield, we also examine the correlation between sovereign credit rating and bond market yield of each country during crisis period. Quarterly basis data of all variables is used in the research. By using regression analysis with Durbin Watson test and Pearson correlation for each country financial markets the findings indicated that sovereign credit rating has a significant impact on bond markets. Sovereign ratings are negatively correlated with Bond yield in both countries. The finding summarized that credit rating has a major influence on financial markets during crisis period.

Keywords: Credit ratings; Moody; S&P; Fitch; Bond yield; Inflation; Current account

Citation: Masood O, Bashir F, Sahi AI (2017) Sovereign Credit Rating Changes and its Impact on Financial Markets of Europe During Debt Crisis Period (Greece, Ireland). J Bus Fin Aff 6: 304. Doi: 10.4172/2167-0234.1000304

Copyright: © 2017 Masood O, et al. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.

Select your language of interest to view the total content in your interested language

Post Your Comment Citation
Share This Article
Relevant Topics
Article Usage
  • Total views: 3182
  • [From(publication date): 0-2017 - Dec 16, 2019]
  • Breakdown by view type
  • HTML page views: 2993
  • PDF downloads: 189
Top