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Rolle der Ratingagenturen. Zur Überwindung des Problems der asymmetrischen Informationsverteilung im Kapitalmarkt

Rolle der Ratingagenturen. Zur Überwindung des Problems der asymmetrischen Informationsverteilung im Kapitalmarkt

          
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About the Book

Studienarbeit aus dem Jahr 2020 im Fachbereich VWL - Mikroökonomie, allgemein, Note: 2, Donau-Universität Krems - Universität für Weiterbildung, Sprache: Deutsch, Abstract: Ziel dieser wissenschaftlichen Arbeit ist die Rolle der Ratingagenturen auf dem weltweiten Finanzmarkt zu analysieren. Insbesondere wird die Problematik erläutert, die mit der marktbeherrschenden Stellung einer geringen Anzahl an Ratingagenturen einhergeht sowie im Anschluss Möglichkeiten aufgezeigt, um potenzielle Interessenskonflikte zu lösen. Der Interessenskonflikt entsteht beispielsweise dadurch, dass der Auftraggeber, der bewertet werden möchte, das Rating bezahlt. Die Finanzkrise von 2007 bis 2009 hat verdeutlicht, dass mangelhafte oder 'falsche' Ratings fatale Folgen für das globale Finanzsystem und die Weltkonjunktur haben. Seit diesem Ereignis stehen internationale Ratingagenturen, primär die Big Three der Ratingbranche, nämlich Standard & Poor's, Moody's und Fitch, unter ständiger Kritik. Im ersten Kapitel des Hauptteils wird die Rolle der Ratingagenturen vorgestellt sowie analysiert wie ein Rating zustande kommt und welche Vorteile Ratings für Emittenten und Investoren bieten. Das Kapitel drei beinhaltet Problemfelder, die sich aus der oligopolistischen Struktur am Ratingmarkt ergeben. Hierbei stehen vor allem Interessenskonflikte, die fehlende Transparenz eines Ratingurteils, die Eigentümerstruktur, der geringe Wettbewerb und die mangelnde Haftung im Vordergrund der Betrachtung. Im Kapitel vier werden Lösungsmöglichkeiten, wie beispielsweise eine strengere Regulierung des Marktes, die Einführung einer europäischen Ratingagentur sowie die Notwendigkeit mehr Anreize für Wettbewerb zu schaffen, diskutiert. Der Aufbau eines europäischen Ratingfonds stellt aus Sicht des Autors eine interessante Alternative bzw. Ergänzung zur derzeitigen Praxis auf dem Ratingmarkt dar. Die Funktionsweise des Ratingfonds wird ebenso im Kapitel vier beschrieben. Die wesentlichsten Erkenntnisse werden im Sc


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Product Details
  • ISBN-13: 9783346278265
  • Publisher: Grin Verlag
  • Publisher Imprint: Grin Verlag
  • Height: 210 mm
  • No of Pages: 34
  • Spine Width: 2 mm
  • Width: 148 mm
  • ISBN-10: 3346278263
  • Publisher Date: 15 Oct 2020
  • Binding: Paperback
  • Language: German
  • Returnable: N
  • Weight: 59 gr


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