An Alternative Approach to Predicting Corporate Bond Ratings

摘要: In Empirical Research in Accounting: Selected Studies, 1966, James Horrigan described a study of the power accounting data to predict corporate bond ratings.1 As discussant this paper, I criticized several aspects Horrigan's methodology and went on suggest that somewhat different approach problem predicting ratings-an made less use data-might prove be more accurate.2 Indeed, my discussion concluded with statement would "very surprised if did not materially improve Professor ability ratings." 3 The purpose paper is present results obtained from applying alternative rating problem. Before describing how it fared comparison methodology, will first briefly review his some original criticisms.