Sovereign Ratings and National Culture

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dc.contributor.authorDang H
dc.contributor.authorPartington G
dc.date.accessioned2020-06-02T02:07:09Z
dc.date.available2020-06-02T02:07:09Z
dc.date.issued2021en
dc.date.updated2020-02-25T03:42:11Z
dc.description.abstractDefault by sovereign governments depends upon their willingness to default and the nation’s capacity to pay. These are major factors considered by rating analysts and both may be affected by national culture. We hypothesise that ratings are related to culture and empirically examine the relation between culture and both levels and changes in sovereign ratings. Sovereign ratings have traditionally been modelled in terms of macro-economic variables, rating outlook and rating history. Culture variables are significant when included in such models and their addition results in better models as judged by the QIC statistic and likelihood ratio tests. The significance of culture variables is robust to replication and to estimation using instrumental variables.en
dc.identifier.citationDang H, Partington G (2021). Sovereign Ratings and National Culture. Pacific-Basin Finance Journal.en
dc.identifier.issn0927-538X
dc.identifier.urihttps://hdl.handle.net/10092/100182
dc.language.isoen
dc.subjectsovereign debten
dc.subjectsovereign ratingen
dc.subjectnational cultureen
dc.subjectrating historyen
dc.subjectrating outlooken
dc.subjectrating changesen
dc.subject.anzsrcField of Research::14 - Economics::1402 - Applied Economics::140210 - International Economics and International Financeen
dc.subject.anzsrcField of Research::15 - Commerce, Management, Tourism and Services::1502 - Banking, Finance and Investment::150201 - Financeen
dc.titleSovereign Ratings and National Cultureen
dc.typeJournal Articleen
uc.collegeUC Business School
uc.departmentDepartment of Economics and Finance
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