Groupe Télécom Finance &amp; Institut Europlace de Finance Scientific Morning<br />Breakfast at the Palais Brongniart - Rating Agencies

This scientific session will focus on the following questions: How does competition between rating agencies affect their credibility? What is the role of the regulator? What future for the "issuer pays" model? Is centralized control of rating quality feasible? What are the barriers to entry, and what is the impact of the entry of new raters on those already present, depending on their number? What is the relationship between product complexity and investor sophistication? How is the complexity of financial products used in competition between financial institutions? Which structuring strategies for which customers? The proposed insights are based on a detailed analysis of a hitherto unexploited European database.


Speakers:
Stefan HIRTH, Aarhus University
Credit Rating Dynamics and Competition
Claire CELERIER, University of Zürich, Boris VALLEE, HEC Paris
What Drives Financial Complexity? A Look into the European Retail Structured Products Market