美国信用评级认可制度的多视角分析及启示  

On U.S.Credit Rating Recognition System from Multi-perspectives and the Implication

作　　者：白钦先[1] 黄鑫[1] 

机构地区：[1]辽宁大学,辽宁沈阳110036

出　　处：《上海金融》2010年第12期5-9,共5页Shanghai Finance

基　　金：国家社科基金重点项目(07AJY014);教育部哲学社会科学研究专项委托项目(09JF001)成果

摘　　要：本文通过回溯美国信用评级由过度封闭的NRSROs认可指定制度向更为开放的认可注册制度的转变历程,比较分析了二者的制度性益处与缺陷;进而通过探讨信用评级的认可价值、信息质量和评级估值之间的关系,对信用认可制度最新取向作出了评价。凭借基于评级质量的映射手段,现行的认可注册制度仍有完善余地。此外官方认可制度既可约束评级的产出,也可使国家促进新设评级机构的市场进入,因此评级后进的国家和机构仍保有机会。This paper makes a backtrack over the change course of U.S.credit rating from extremely closed designation system（NRSROs） to a more open recognition registration system,compares and analyzes their institutional benefits and defects;then through discussing the relationship among credit rating recognition value,information quality and rating valuation,it makes an evaluation on the latest orientation of the credit recognition system.Relying on the mapping method based on rating quality,current designated registration system still has room of improvement.In addition,the official recognition system can not only constraint rating output,but also make the state promote the market entry for newly established rating agencies,therefore giving opportunities to countries and institutions that lag behind.

关 键 词：信用评级 NRSROs 官方认可 指定制度 注册制度 

分 类 号：F837[经济管理—金融学]