Different scholars and exponents of the world of finance have found that the problem of conflict of interest might play a relevant role in the business of credit rating agencies. On the one hand, it is argued that credit rating agencies have no incentive to exploit conflicts of interest since they would lose their reputation for providing valuable information. On the other, it seems that the increase in rules that depend on credit ratings has created an incentive for a few rating agencies, identified as NRSROs, to supply inaccurate ratings and for market participants to pay for regulatory rights deriving from the agencies’ ratings. The scope of this research is to study whether reputable and well-established credit rating agencies can build up a margin that allows them to remain unaffected by a lowered quality of the service provided and to indulge in exploiting the conflict of interest by giving their customers, i.e. the issuers, unduly high ratings. This study will also suggest a critical review of the latest amendments and amendment proposals to the existing legislation governing credit rating agencies aimed at improving oversight and regulation of these agencies.
Rating Scales and Checklists: Evaluating Behavior, Personality, and Attitudes and Questionnaires and Inventories: Surveying Opinions and Accessing Personality and Tests and Examinations: Measuring Abilities and Performance
Banking industry serves as the backbone of the financial sector that accumulates saving from surplus economic units in the form of deposits and provides it to deficit economic units in the form of advances. So it is of great importance to keenly observe the performance of the banks and their compliance with the regulatory requirements. Performance of the banks is measured at two levels, one is at the management and regulatory level of the banks and another is at external rating agencies. It is of great importance that both these ratings present the same results about the condition of the banks to provide clear information to investors and management. CAMELS is the supervisory and regulatory rating system implemented by State Bank of Pakistan. It takes into account six important components of a bank when it evaluates performance of the bank. These components are Capital, Assets, Management, Earning, Liquidity and Sensitivity to market risk. PACRA rating agency is the dominant credit rating agency of Pakistan that performs ratings for most banks. In our research we examine the similarities in the results generated by CAMELS rating system and PACRA rating agency.
[National Bestseller]Soon to be a major motion picture from Warner Bros., starring Matt Damon.In The Informant, award-winning investigative reporter and New York Times bestselling author Kurt Eichenwald tells the outrageously true story of greed, corruption, and conspiracy that left the FBI and Justice Department counting on the cooperation of one man. Now headed for the silver screen, the film adaptation of The Informant is directed by Academy Award-winning director Steven Soderbergh, with Matt Damon set to portray Mark Whitacre, the executive who wore a wire for the FBI as they tried to bring down corporate giant Archer Daniels Midland—but whose dark secrets and hidden agenda threatened to unravel one of the largest price-fixing cases in history.“Ranks with A Civil Action as one of the best nonfiction books of the last decade.”—The New York Times Book Review “The most riveting tale of recent years... a fast-paced race-car of a book.” —Salon.com “Reads like an Ed McBain crime novel. I knew how the story ended, but I still couldn’t put the book down.”—New York Times “Gripping…A remarkable work and a compelling read...The intensity of reportage seems at times almost superhuman.” —Newsday
The book talks about the four major Credit Rating Agencies in India including CRISIL, ICRA, CARE and FITCH. It gives a detailed information regarding operations undertaken by these rating agencies. The regulatory environment affecting the credit rating activities in India has been discussed in the book. The methodology adopted by Credit Rating Agencies while rating and variability in rating over the period has also been analysed in the book. The book evaluates the post rating performance of various companies rated by the given rating agencies. In addition the perceptions of investors regarding credit rating practices in India has also been covered in the book.
The increased use of video documents for multimedia-based applications has created a demand for strong video database support, including efficient methods for browsing, retrieving and classifying video data. Most solutions rely on visual information only, ignoring the rich source of the accompanying audio signal and texts. The semantic gap between mental and computational world is not yet surmounted by current algorithms and systems. Hence, there is a need for much research effort. Speech is the significant information that has a close connection to video contents. The closed caption text facilitates the acquisition of the video transcript. It provides visual text to describe dialogue and sound effects in video documents. In this study, two approaches are proposed; one for rating or classifying video scenes and the other for retrieving video scenes. Both approaches are based on the utilization of the Arabic closed caption text. Some techniques such as the Arabic light stemming and the Rocchio classifier are employed in the proposed approaches.
The latest financial crisis highlighted several problems with credit derivatives and raised questions about the effectiveness of Credit Rating Agencies’ (CRAs) assessment of risks in rating complex financial products such as Collateralized Debt Obligation (CDO). Credit derivatives provided a powerful new tool for managing credit risk that had the potential to facilitate risk-sharing, enhance the efficiency of risk management and promote market completeness. Measuring the exposure taken on a credit derivative contract can be very difficult. As a result market participants have rely on credit ratings as a source of information to assess the risk of their derivative transactions. During the latest crisis the role of the major credit rating agencies have come under increased scrutiny. This work, after the introduction of credit risk, provides an overview of credit derivatives instruments and explain the central role that rating and credit rating agencies play in the financial markets. Moreover, it highlights the criticism of credit rating agencies in rating structured finance products and provide an in-depth view of the CDO rating methodologies.
Local governments are tasked to supply a range of services – from those that exhibit mainly private goods to those that exhibit mainly public goods characteristics. Executing these tasks requires huge public expenditure and needs to be financed by citizens who demand these needs. In most parts of the World this is done through property taxation together with central government subventions. However, property rating in Ghana has failed to provide the expected bulk of local revenue to offset local government budget deficits and supplement the District Assemblies Common Fund at the Metropolitan, Municipal and District levels. The application of good governance is necessary to improve property rate administration as a reliable source of local government revenue and balancing factor to her budget deficits. This study therefore examines the current performance of property rating within the decentralization policy of Ghana and the extent to which good governance indicators have been applied to improve property rate administration -mobilisation and utilization.
At the beginning of 21st century, we find ourselves exactly in a similar position that we were in the beginning of the Aero Engine age. With environment and current economy taking the front seat in civil applications, the objective is to propose novel and innovative concepts which make the process more effective and efficient which would help in saving time and money. This report proposes the use of an automatic control system to implement variable rating operation within the engine. Implementation of variable rating operation results in an increase engine life and decrease in NOx at a small expense of CO & UHC. This results in a decreased overall operating cost of the engines, especially the maintenance cost and the emission charges.The study is based on the engine performance taking payload, altitude and mission range into account. The parameters used are strongly related to a commercial flight. Implementation of Variable Rating Operation was done on different civil aero engine configurations i.e. High Bypass Turbofan, Open Rotor and the Gear Turbofan.
The main factors included in the development of the forest fire hazard rating system in this study are fuel types (based on classifications of land-cover types), and the proximity of forests to roads and canals. These have been identified as the most critical factors contributing to fire as described by many researches. The analysis for this study found, the area affected by fire includes a variety of land covers even the agricultural categories. The areas with medium and low slopes (under 40%) were also ranked as medium and low fire hazard respectively. As a conclusion, the integration of remote sensing and GIS techniques in this study made it possible to create an effective fire hazard rating model and to develop a detailed fire hazard rating map for the study area. This integration of spatial variables, therefore, is extremely useful and beneficial for forest fire research.
In the research literature very few studies have been done in India as well as in other countries about actual functioning and consistency of bank’s internal ratings and implied ex-ante risk in bank loan portfolios. It opens up wide area of research (which has not been done on Micro-level data) to examine individual bank’s modus operandi in integrating ground level risk appreciation and capturing them in Risk assessment exercise which over-all affects portfolio risk dimension of whole-bank in an aggregated portfolio.