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The ratings are real. One number, 0 to 100, determines your place in society. Earn a high rating, and the world is yours for the taking. But fall to zero, and you may as well cease to exist. Societies thrive on order, and the Rating System is the ultimate symbol of organized social mobility. The higher it soars, the more valued you are. The lower it plummets, the harder you must work to improve yourself. For the students at the prestigious Maplethorpe Academy, every single thing they do is reflected in their ratings, updated daily and available for all to see.But when an act of vandalism sullies the front doors of the school, it sets off a chain reaction that will shake the lives of six special students -- and the world beyond.
Author : Nwogugu, Michael I. C. Publisher : IGI Global Page : 320 pages File Size : 43,5 Mb Release : 2021-05-07 Category : Business & Economics ISBN : 9781799874201
Complex Systems and Sustainability in the Global Auditing, Consulting, and Credit Rating Agency Industries by Nwogugu, Michael I. C. Pdf
Current and future issues in the global accounting/consulting, business opportunity, and credit rating agency (CRA) industries can have significant multiplier-effects on international trade, sustainable growth, and compliance (as physical phenomena). These three industries are among the most international and human-capital-intensive of all service industries. In these industries, analysis of business models and industry dynamics can provide insights about how human-computer interaction (HCI) and contract theory affect the evolution of financial market ecosystems and cross-border information flows, and how business models, work-allocation mechanisms, and liability allocation can evolve to manage change. An often-overlooked issue is that non-performing loans (NPLs), sustainability, and CRA efficiency can be significantly affected by business processes, corporate strategy, and HCI in industry ecosystems, multinational corporations (MNCs), and economic systems. Complex Systems and Sustainability in the Global Auditing, Consulting, and Credit Rating Agency Industries compares these three industries and introduces theories of public policy and “inter-business” processes. The book links industry structure, complex systems (including networks), behavioral game theory, structural changes, and antitrust problems to sustainability and the efficiency of pollution-remediation systems. The book introduces new “informal algorithms” and business/resource-allocation models that solve social-choice problems, and also contravene “impossibility theorems” that are at the core of modern computer science and mechanism design. This book is essential for professors and masters/PhD-level students and employees (in industry, financial services, research institutes, consulting firms, and government agencies) who are interested in industrial mathematics and theoretical computer science.
Credit Rating Agencies on the Watch List by Raquel García Alcubilla,Javier Ruiz del Pozo Pdf
Credit rating agencies have been criticized for their role in the financial crisis by understating credit risk. The US subprime mortgage crisis highlighted the systemic relevance of the rating agencies and the deficiencies in their activities; this led to an international consensus to regulate the rating business. Written by those involved in developing European Legislation, this book explains EU Regulation in the context of global initiatives undertaken by the G-20, the Financial Stability Board, and IOSCO to address failures within the rating industry. Through an in-depth analysis of the EU Regulation's requirements on governance, conflicts of interest, methodologies, and transparency, the book provides a clear explanation of how rating agencies operate and how the identified failures have been addressed. Moreover, it examines the supervisory and enforcement powers of ESMA, the EU authority in charge of the registration and oversight of rating agencies. This is complemented with an analysis of guidance from supervisors (ESMA and EBA), IOSCO's recommendations, and US legislation. The book discusses possible new regulatory developments in areas such as the agencies' business model, competition, civil liability, and ratings of sovereign debt, in light of the Euro debt sovereign crisis. It concludes with the authors' support for an enhanced regulatory and oversight coordination at international level and for the implementation of the necessary steps to reduce the existing over-reliance on ratings.
Credit rating agencies play an essential role in the modern financial system and are relied on by creditors and investors on the market. In the recent financial crisis, their power and reliability were often questioned, yet a simple rating downgrade could threaten to bankrupt a whole country. This book examines the governance of credit rating agencies, as expressed by their ability to fairly, ethically and consistently assign higher rates to issuers having lesser default risks. However, factors such as the drive for increased revenue and market share, the inadequate business model, the inadequate methodology of assessing risk, opacity and inadequate internal monitoring have all been identified as critical governance failures for credit agencies. This book explores these issues, and proposes some potential solutions and improvements. This will be of interest to researchers and advanced students of corporate finance, finance, financial economics, risk management, investment management, and banking.
Regulating Credit Rating Agencies by Aline Darbellay, Pdf
øŠAline Darbellay analyzes the obvious system relevance of credit rating agencies in depth and assesses the possible options for regulatory responses to this systemic issue. Thereby, the book is based on a fruitful comparative legal approach and formul
United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises
Author : United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises Publisher : Unknown Page : 96 pages File Size : 44,5 Mb Release : 2006 Category : Business & Economics ISBN : PSU:000058162149
H.R. 2990--the Credit Rating Agency Duopoly Relief Act by United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises Pdf
Assessing the Current Oversight and Operations of Credit Rating Agencies by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs Pdf
SEC's Role Regarding and Oversight of Nationally Recognized Statistical Rating Organizations (NRSROs) by H. David Kotz Pdf
The SEC first incorporated reliance on credit ratings into its rules and regulations in 1975 in connection with how broker-dealers must compute their net capital. In that rule, the SEC specified that a broker-dealer, in computing its net capital, could take a lesser deduction from its net worth as to securities that were rated as having a comparatively low chance of default according to a credit rating of a ¿nationally recognized statistical rating org.¿ (¿NRSRO¿). This report focuses on the implementation of and compliance with the Rating Agency Act and SEC rules. It also assessed the SEC¿s efforts to oversee the NRSROs and to implement the Rating Agency Act¿s accountability, competition, and transparency objectives.
United States. Congress. House. Committee on Interstate and Foreign Commerce. Subcommittee on Consumer Protection and Finance
Author : United States. Congress. House. Committee on Interstate and Foreign Commerce. Subcommittee on Consumer Protection and Finance Publisher : Unknown Page : 108 pages File Size : 54,9 Mb Release : 1976 Category : Municipal bonds ISBN : UOM:39015081221890
Municipal Bonds Rating Regulation by United States. Congress. House. Committee on Interstate and Foreign Commerce. Subcommittee on Consumer Protection and Finance Pdf
United States. Congress. Senate. Committee on Post Office and Civil Service
Author : United States. Congress. Senate. Committee on Post Office and Civil Service Publisher : Unknown Page : 278 pages File Size : 54,6 Mb Release : 1948 Category : Civil service ISBN : LOC:00122185394
Efficiency Rating System for Federal Employees by United States. Congress. Senate. Committee on Post Office and Civil Service Pdf
Appendix includes Civil Service Commission's "Regulations Governing the Present Efficiency Evaluation Procedure" (p. 123-185) and Senate Committee on the Civil Service Report prepared by the Legislative Reference Service "Efficiency Rating Systems," May 1947 (p. 185-251)
Author : United States. Department of the Army Publisher : Unknown Page : 28 pages File Size : 47,6 Mb Release : 1995 Category : Air pilots, Military ISBN : MINN:31951D01161240F
