Informação dos investidores: classificação de riscos, contabilidade e conflitos de interesses
- Authors
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Maryse Farhi
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Marcos Antonio Macedo Cintra
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- Keywords:
- Risco (Economia), Créditos, Investimentos - Análise
- Abstract
- This paper is an attempt to discuss the mechanisms of access to relevant Information for decision-making by investors. It focuses on the role played by credit rating systems determined by specialized agencies and it describes the emergence and the expansion of credit rating agencies. The inherently pro-cyclic behavior of ratings issued by these agencies is shown in the crises in Asian Southeast, Rússia, and Brazil as well as in the devaluation process of US stock exchange. Conflicts of interests on recommendations by financial analysts, auditing companies, ratings by these agencies and problems on balances of corporations tend to reinforce regulation and supervision mechanisms in detriment to auto-regulating ones.
- Downloads
- Issue
- Vol. 23 No. 2 (2002)
- Section
- Artigos
- License
- A remessa dos artigos à revista implica a cessão dos direitos autorais à FEE.