Determine the Responsibility of Credit Rating Agencies in the Occurrence of Financial and Banking Crises: An Analytical Study with Reference to the Bankruptcy Crisis of the American Silicon Valley Bank
| المصدر: | مجلة دفاتر اقتصادية |
|---|---|
| الناشر: | جامعة عاشور زيان الجلفة - كلية العلوم الاقتصادية والعلوم التجارية وعلوم التسيير |
| المؤلف الرئيسي: | Fakhari, Farouk (Author) |
| مؤلفين آخرين: | Zebiri, Noura (Co-Author) |
| المجلد/العدد: | مج15, ع2 |
| محكمة: | نعم |
| الدولة: |
الجزائر |
| التاريخ الميلادي: |
2024
|
| التاريخ الهجري: | 1446 |
| الشهر: | نوفمبر |
| الصفحات: | 123 - 137 |
| DOI: |
10.36530/1661-015-002-010 |
| ISSN: |
2170-1040 |
| رقم MD: | 1526273 |
| نوع المحتوى: | بحوث ومقالات |
| اللغة: | الإنجليزية |
| قواعد المعلومات: | EcoLink |
| مواضيع: | |
| كلمات المؤلف المفتاحية: |
Credit Rating Agencies | Financial Crises | Banking Crises | Mortgage Crisis | Silicon Valley Bank
|
| رابط المحتوى: |
عدد مرات التحميل
1
| المستخلص: |
This article endeavors to underscore the pivotal role played by credit rating agencies in the assessment of the creditworthiness of bond issuers, encompassing both institutional entities and sovereign nations. The article emphasizes the prerequisite for well-defined criteria governing these agencies, characterized by transparency and unwavering objectivity in their credit assessments. Furthermore, this study delves into the inquiry of the potential culpability of credit rating agencies in precipitating financial and banking crises, particularly in recent years, exemplified by the 2008 mortgage crisis and the 2023 Silicon Valley Bank bankruptcy episode. The investigation yields a multitude of conclusions, with paramount significance placed on establishing the contributory role of credit rating agencies in the unfolding of financial crises. Evidently, prominent credit rating agencies provided erroneous and overly positive ratings for numerous entities, shortly preceding their declaration of bankruptcy. The research also underscores the imperative of proposing an alternative to conventional credit rating agencies, advocating for the adoption of Islamic credit rating agencies. This suggestion gains prominence in light of the continuous expansion of Islamic finance and its assimilation into the global economic landscape. |
|---|---|
| ISSN: |
2170-1040 |
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