Cross-Market Analysis: The Effect of Rating Changes on Bonds, CDS, and Equities
We examine and compare the effects of rating events on bonds, CDS and equities. The use of a single data-set of reference entities and rating events as well as a coherent methodology allows for a comparison of the results across asset classes.
Prof. Dr. Pascal Gantenbein, MRICS, is the Henri-B.-Meier full professor of Financial Management at University of Basel's Center of Economic Sciences (WWZ). Previous to that, he was with the Swiss Institute of Banking and Finance at the University of St. Gallen. Since 1999, he's been a full-time lecturer of financial management at the University of St. Gallen, where he received his postdoctoral lecture qualification (habilitation) in 2004.
Currently, his academic activities comprise the main areas of finance such as corporate finance, portfolio management, valuation and financial analysis as well as risk management, real estate finance, and venture finance. He is also lecturer in a multitude of seminars and courses for executive education.
Pascal Gantenbein is author and co-author of several books and papers. His major publications are about fixed income instruments, portfolio theory, capital markets, real estate markets, corporate portfolio management, and venture finance. In 2003, he was at Marshall School of Business, University of Southern California (USC), Los Angeles. In 2006, he was a visiting professor at HEC Paris teaching monetary economics and monetary policy. Also in 2006, he was a visiting faculty with professor Francis Longstaff at UCLA Anderson School of Management. In 2011, he was a visiting professor at the University of Geneva (HEC Genève) teaching financial policy.
In addition, he gained his work experience in the insurance industry and as a financial advisor. Today, he acts as a consultant in the field of real estate investment and runs a number of projects in the area of venture finance. Pascal Gantenbein is a professional member of the Royal Institution of Chartered Surveyors (RICS). He received his Ph.D. from the University of St. Gallen in 1999, where he also graduated in 1995.