'Rating agencies as a corporate governance mechanism: Power and trust production in debt capital markets’

Bourne, Clea D.. 2012. 'Rating agencies as a corporate governance mechanism: Power and trust production in debt capital markets’. In: Ralph Tench; Brian Jones and William Sun, eds. Corporate Social Irresponsibility: Issues, Debates and Case Studies. 4 Bingley: Emerald Books, pp. 135-156. ISBN 978-1-78052-998-1 [Book Section]

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Abstract or Description

The chapter explores the voluntary corporate governance role played by credit rating agencies, closing the ‘trust at a distance’ gap which might otherwise hinder fundraising in debt capital markets. The chapter draws on Giddens’ system trust theory and Foucauldian perspectives of knowledge/power to unpack trust production as a discursive process in financial markets.The texts analysed illustrate the influence of rating agencies in producing trust as well as mistrust in debt instruments.

Item Type:

Book Section

Identification Number (DOI):

https://doi.org/10.1108/S2043-9059(2012)0000004015

Keywords:

Corporate governance, debt markets, power, rating agencies, trust

Departments, Centres and Research Units:

Media, Communications and Cultural Studies

Dates:

DateEvent
2012Published

Item ID:

13805

Date Deposited:

02 Oct 2015 16:21

Last Modified:

27 Jun 2017 13:44

URI:

http://research.gold.ac.uk/id/eprint/13805

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