DC FieldValueLanguage
dc.contributor.authorCharamis, Dimitrios-
dc.contributor.authorFloros, Christos-
dc.contributor.authorTabouratzi, Efthalia-
dc.contributor.authorGarefalakis, Alexandros-
dc.date.accessioned2024-03-20T09:23:09Z-
dc.date.available2024-03-20T09:23:09Z-
dc.date.issued2018-
dc.identifiergoogle_scholar-zK835XQAAAAJ:UeHWp8X0CEIC-
dc.identifier.otherzK835XQAAAAJ:UeHWp8X0CEIC-
dc.identifier.urihttps://uniwacris.uniwa.gr/handle/3000/1529-
dc.description.abstractThe ongoing debt crisis has led the discussion on the role of credit rating agencies (e.g. Fitch, Moody’s and S&P) during the financial crisis and their connection with the financial markets. This paper examines the impact of rating news on the returns of the Greek General Price index of the Athens Stock Exchange (ASE). We focus on the three major rating agencies of credit capacity, i.e. Fitch, Moody’s and S&P. Our study includes announcements (rating downgrades) about the Greek economy over the period 2009-2011. First, we measure the variation of volatility using closing, open, high and low prices; volatility is linked to the arrivals of financial and accounting information and news. We find evidence of high volatility for the periods December 2009 and April-June 2010. Further, we report that the negative news or downgrades have an economically and statistically significant (negative) impact on the Greek stock market returns only on the day of announcement. The Greek stock market perceives the degradation (downgrades) as surprises. These findings are recommended to financial managers and investors dealing with the Greek stock market.en_US
dc.language.isoenen_US
dc.relation.ispartofInterdisciplinary Journal of Economics and Business Lawen_US
dc.sourceInterdisciplinary Journal of Economics and Business Law 7 (3), 2018-
dc.titleStock market returns, volatility and credit rating announcement: the case of Greeceen_US
dc.typeArticleen_US
dc.relation.deptDepartment of Accounting and Financeen_US
dc.relation.facultySchool of Administrative, Economics and Social Sciencesen_US
dc.relation.volume7en_US
dc.relation.issue3en_US
dc.identifier.spage40en_US
dc.identifier.epage54en_US
dc.linkhttps://www.researchgate.net/profile/Alexandros-Garefalakis/publication/335988186_Stock_Market_Returns_Volatility_and_Credit_Rating_Announcement_The_Case_of_Greece/links/5f329330299bf13404b77a40/Stock-Market-Returns-Volatility-and-Credit-Rating-Announcement-The-Case-of-Greece.pdfen_US
dc.collaborationUniversity of West Attica (UNIWA)en_US
dc.subject.fieldSocial Sciencesen_US
dc.journalsOpen Accessen_US
dc.publicationPeer Revieweden_US
dc.countryGreeceen_US
local.metadatastatusverifieden_US
item.cerifentitytypePublications-
item.languageiso639-1en-
item.openairetypeArticle-
item.openairecristypehttp://purl.org/coar/resource_type/c_18cf-
item.fulltextNo Fulltext-
item.grantfulltextnone-
crisitem.author.deptDepartment of Accounting and Finance-
crisitem.author.facultySchool of Administrative, Economics and Social Sciences-
crisitem.author.orcid0009-0007-2335-955X-
crisitem.author.parentorgSchool of Administrative, Economics and Social Sciences-
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