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dc.date.accessioned2021-04-09T08:27:50Z-
dc.date.available2021-04-09T08:27:50Z-
dc.date.issued2014-
dc.identifier.citationBugeja, E. (2014). An assessment of the effectiveness of the European Union's regulatory mechanisms to regulate credit rating agencies in the wake of the financial crisis (Master's dissertation).en_GB
dc.identifier.urihttps://www.um.edu.mt/library/oar/handle/123456789/73342-
dc.descriptionM.A.EUROPEAN STUD.en_GB
dc.description.abstractIn 2007 - 2009, the world was hit by a great recession where credit rating agencies have been blamed to be one of the key drivers in deepening the crisis. In response to this, the European Union pursued a set of legislations to regulate rating agencies' practices. The following study investigates whether the European Union's regulations and subsequent amendments on credit rating agencies introduced after the great recession were able to tackle all the pre-crisis credit rating agencies' related issues. By examining the role of rating agencies in the global financial crisis and in the European sovereign debt crisis, the study provides a description of the different weaknesses in credit rating agencies' functions which eventually contributed to the build-up and unfolding of the great recession. A qualitative and literature-based methodology is utilised for the purpose of this study particularly because such method is valuable to provide a much more inclusive analysis. In order to assess the effectiveness of the European Union's regulatory regime on credit rating agencies', the study takes a detailed stock of each round of legislation and examines whether the regulatory responses have managed to address the weaknesses expounded by these agencies. This study revealed that the post-crisis regulatory regime on the credit rating industry managed to effectively respond to the majority of credit rating agencies' shortcomings that have been revealed in the wake of the great recession. The study also sheds light on issues that need to be altered to augment the effectiveness of the European Union's regulatory package on rating agencies.en_GB
dc.language.isoenen_GB
dc.rightsinfo:eu-repo/semantics/restrictedAccessen_GB
dc.subjectCredit ratingsen_GB
dc.subjectFinance, Publicen_GB
dc.subjectRisk managementen_GB
dc.titleAn assessment of the effectiveness of the European Union's regulatory mechanisms to regulate credit rating agencies in the wake of the financial crisisen_GB
dc.typemasterThesisen_GB
dc.rights.holderThe copyright of this work belongs to the author(s)/publisher. The rights of this work are as defined by the appropriate Copyright Legislation or as modified by any successive legislation. Users may access this work and can make use of the information contained in accordance with the Copyright Legislation provided that the author must be properly acknowledged. Further distribution or reproduction in any format is prohibited without the prior permission of the copyright holder.en_GB
dc.publisher.institutionUniversity of Maltaen_GB
dc.publisher.departmentInstitute for European Studiesen_GB
dc.description.reviewedN/Aen_GB
dc.contributor.creatorBugeja, Elaine (2014)-
Appears in Collections:Dissertations - InsEUS - 1996-2017

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