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Volume 17, Issue 2
1 January 1997
Studies in Economics and Finance Cover Image for Volume 17, Issue 2
Review Article| January 01 1997

AN EMPIRICAL ANALYSIS OF MUNICIPAL BOND RATINGS IN VIRGINIA

Yaw A. Badu;
Yaw A. Badu
Associate Professor, Department of Economics and Finance, School of Business, Virginia State University, Petersburg, VA 23806.
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Kenneth N. Daniels
Kenneth N. Daniels
Assistant Professor, Department of Finance and Insurance, School of Business, Virginia Commonwealth University, Richmond, VA 23284.
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Author & Article Information
Publisher: Emerald Publishing
Online ISSN: 1755-6791
Print ISSN: 1086-7376
© MCB UP Limited
1997
Studies in Economics and Finance (1997) 17 (2): 81–97.
https://doi.org/10.1108/eb028733

The paper investigates the determinants of municipal bond ratings in Virginia using an ordered‐probit analysis. We find that economic factors are the key determinants of municipal bond ratings in the State. Our ordered‐probit model correctly predicts approximately 70% of the actual sample which is not subject to sample selection bias.

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© MCB UP Limited
1997
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