国际信用评级机构在危机中的行为分析及启示

以穆迪、标准普尔、惠誉为代表的信用评级机构在现代金融系统中扮演着重要角色。但在近年来的几次金融危机中,信用评级机构却因发放的信用评级不断丧失客观公正而广受质疑本文通过对评级机构的起源、经营、监管和所处市场环境的讨论,对其受质疑行为所产生的根源进行了分析,并由此引发出对我国信用评级业发展的一些启示。

The Performance Analysis of Credit Rating Agencies in Crisis

The credit rating agencies,such as Moodys,Standard & Poors and Fitch,have been playing an important role in the modern financial system. However,in the recent financial crises,the credit rating agencies have continued to lose the objective and fair position in rating performance,while suffering enough from doubt and criticism.With the discussion of origin,operation,government regulation and market environment,this article analyzes the root of the weak performance of the credit rating agencies,and thus draws some inspiration for the development of the credit rating industry in China.