Kreditne rejting agencije i financijska kriza

master's thesis

• Title (english): Credit rating agencies and financial crisis
• Author: Gabriela Marinčić
• Mentor: Mihovil Anđelinović (mentor)
• Committee member: Drago Jakovčević (predsjednik povjerenstva)
• Committee member: Ana Ivanišević Hernaus (član povjerenstva)
• Granter: University of Zagreb; Faculty of Economics and Business; Zagreb
• Defense date and country: 2016-05-24, Croatia
• Scientific / art field, discipline and subdiscipline: SOCIAL SCIENCES; Economics; Finance

Abstract

Uloga kreditnih rejting agencija u kontinuiranom je rastu otkad je John Moody počeo s ocjenjivanjem obveznica američkih željezničkih tvrtki još 1909. godine. Agencije za kreditni rejting imaju veoma važnu ulogu na financijskim tržištima smanjujući asimetričnost informacija između poslovnih subjekata ocjenjujući kreditni rizik i kreditnu sposobnost različitih sudionika.Svjetska financijska kriza pojavila se 2007. godine na američkom tržištu hipotekarnih kredita, odakle se raznim mehanizmima i kanalima proširila na realni sektor a potom i na ostatak svijeta. Nakon krize, među krivcima našle su se i kreditne rejting agencije, među kojima su najpoznatije agencije Moody's, Standard & Poor's i Fitch Ratings. Rejting agencije optužene su da su davale neobjektivne ocjene, a sve je to završilo sumnjom u postojanja sukoba interesa kod poslovanja agencija i strožim uvjetima regulacije.

Abstract (english)

The role of credit rating agencies is in the continuous growth since John Moody began reviewing the bonds of American railway companies in 1909. Credit rating agencies have an important role in the financial markets by reducing the asymmetry of information between business entities by assessing credit risk and creditworthiness of the different participants. The global financial crisis emerged in 2007. in the American mortgage market, and after that using different mechanisms and channels it spread to the real economy and then to the rest of the world. After the crisis,as one of the culprits world named credit rating agencies, among which the best known are Moody's, Standard & Poor's and Fitch Ratings. Rating agencies were charged withbeinggivenunobjectiveratings, and all this ended under suspicion of conflict of interest in their business and stricter regulatory conditions for rating agencies.

• Keywords: kreditni rejting; kreditne rejting agencije; financijska kriza; sekundarnih hipotekarnih obveznica; regulacija
• Keywords (english): credit rating; credit rating agencies; financial crisis; the secondary mortgage bond; regulation
• Language: croatian
• URN:NBN: urn:nbn:hr:148:338207
• Study programme: Title: Business Economics; Study programme type: university; Study level: graduate; Academic / professional title: magistar/magistra ekonomije (magistar/magistra ekonomije)
• Type of resource: Text
• File origin: Born digital
• Access conditions: Access restricted to students and staff of home institution
• Created on: 2016-09-30 08:05:52