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Dear Participant,
As a part of my dissertation research, being an EMBA student of S P Jain School of Global Management, Singapore ("http://www.spjain.org"), I’m conducting a survey on the “Performance of the ratings provided by Credit Rating Agencies”.
The failures of rating agencies, particularly in rating structured products, were a major contributor to the financial crisis at the tail end of last decade. Research considers how market participants view the role of Rating Agencies and the concept of rating quality.
I am seeking your cooperation to participate in this survey to help in my research work. This should take about 10 minutes to complete.
Confidentiality: Your answers will be treated in strict confidence. The anonymity of the participants will be preserved.
Please feel free to contact me if you have any questions concerning this research:
Vikas K Sahu,
EMBA (2011–2013),
[email protected],
[email protected]
+65 90063633
Survey Question
To what extent do I agree with the following statements about Credit Rating Agencies.
Kindly award scores on a scale of 1 to 5, with
1 = Strongly Disagree,
2 = Disagree,
3 = Neither Disagree Nor Agree,
4 = Agree,
5 = Strongly Agree
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General Risk Awareness
Rate the Importance of Risk Management in Credit Ratings:
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| * Which of the following ratings agencies are you familiar? Please select all that apply. |
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| * Rating Agencies over relying on historical information and slow to react to new information. |
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* Operational Risk
Rating Agencies overly rely on paid-up capital as the effective safeguard against operational risk losses. |
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* Operational Risk
Rating Agencies consider corporate all strategic and operational decisions before ratings. |
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* Operational Risk
Rating Agencies consider the corporate Outsourcing policy and framework by taking cost and operational efficiency, and outsourcing risk. |
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* Business Risk
Business Continuity Plan for corporate carries importance to Rating Agencies. |
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* Business Risk
Country risk covers the downside of a country’s business environment including legal environment, levels of corruption, and socioeconomic variables such as income disparity. |
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* Business Risk
Greater Importance to Business Risk will increase the usefulness of Rating Agencies. |
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* Market Risk
Risk correlations and implied volatility make any contribution in Credit Ratings. |
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* Market Risk
Rating Agencies consider the size of the firm, nature of the industry and complexity of the corporate business activities which results in Considerable Market Risk. |
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* Market Risk
Rating Agencies take consideration of any future potential internal organizational change or external changes in market conditions, Regulatory requirements, market best practices and their trends. |
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* Financial Risk
Rating Agencies measure considers “Market Liquidity Risk” and Funding Liquidity Risk”. |
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* Financial Risk
Rating Agencies consider refinancing difficulties of the Corporate Short term debt. |
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* Financial Risk
Non Performing Assets makes changes in the Credit Ratings. |
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* Financial Risk
Rating Agencies consider corporate plan to maintain an adequate level of financial flexibility to support future development plans and R&D’s. |
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* Financial Risk
Rating Agencies consider corporate potential gap between cash inflows and cash out flows. |
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| * For data quality assurance, please select answer choice “Somewhat Worse” for this question: |
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* Credit Risk
Rating Agencies accurately reflect all relevant dimensions of Credit Risk. |
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* Credit Risk
Rating Agencies consider, decline in the market value of investments that may arise from deterioration in the credit quality of counter-party. |
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* Credit Risk
Rating Agencies Consider credit litigation and receivable collection activities apart from Creditworthiness of corporate. |
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* Questions on Rating Agencies Growth
Rating Agencies, nature of business and the history of the enterprise helped them to grow (in terms of Assets, Profit, Infrastructure and Turnover). |
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| * Rating Agencies ability to keep up with rapid changes in the technology helping them to maintain competitive position. |
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| * Growth in Earning Per Share & Dividend Paying Capacity provided necessary boost to the Rating Agencies to grow. |
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| * Rating Agencies gives considerable importance to Goodwill and its value. |
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| * Market Capitalization of Rating Agencies is important in considering growth. |
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* Demographic-Profile of the Participant’s
The total number of employees in my organization is: |
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| * In which region, is your business registered: |
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| * The Annual revenue (turnover) of my organization is: |
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| * Which of the following categories best describes your primarily area of employment (regardless of your actual position): |
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| * Which of the following best describes your role in industry: |
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| * Involved in making financial decision of the company: |
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