Ambiguity and the Equity of Rating Systems: United States Brokerage Firms, 1995–2000

@article{Fleischer2009AmbiguityAT,
  title={Ambiguity and the Equity of Rating Systems: United States Brokerage Firms, 1995–2000},
  author={Anne Fleischer},
  journal={Administrative Science Quarterly},
  year={2009},
  volume={54},
  pages={555 - 574}
}
This paper challenges the suggestion in prior research on rating systems, and categories more generally, that such systems help facilitate exchange by providing information and distinguishing between different products, proposing that in some instances they create ambiguity instead. I hypothesize that ambiguity in a rating organization's classification system increases with the number of conflict-of-interest relationships it has with producers of the products it rates. Using the rating systems… Expand
53 Citations

Tables from this paper

Business Models and Incentives in Rating Markets: Three Essays
  • Highly Influenced
  • PDF
Balanced but not fair: Strategic balancing, rating allocations, and third-party intermediaries
  • 2
  • Highly Influenced
The Ratings Game: Asymmetry in Classification
  • 85
The Price of Praise in the Market for Virtue: A Paradox of Rating and Recognizing Responsibility
  • B. Lewis
  • Political Science, Economics
  • 2014
  • Highly Influenced
Relative Comparison and Category Membership: The Case of Equity Analysts
  • 25
...
1
2
3
4
5
...

References

SHOWING 1-10 OF 64 REFERENCES
Power and Conflicts of Interest in Professional Firms: Evidence from Investment Banking
  • 161
Conflict of interest and the credibility of underwriter analyst recommendations
  • 1,410
  • PDF
Focusing the Corporate Product: Securities Analysts and De-diversification
  • 470
  • PDF
Do Brokerage Analysts' Recommendations Have Investment Value?
  • 1,634
  • Highly Influential
Reputation and Performance Among Security Analysts
  • 865
Analyst Conflicts and Research Quality
  • 77
  • Highly Influential
A Status-Based Model of Market Competition
  • 1,892
...
1
2
3
4
5
...