{"id":21045,"date":"2015-07-17T22:34:12","date_gmt":"2015-07-17T22:34:12","guid":{"rendered":"http:\/\/obegef.pt\/wordpress\/?p=21045"},"modified":"2015-07-17T22:34:12","modified_gmt":"2015-07-17T22:34:12","slug":"47-working-paper","status":"publish","type":"post","link":"https:\/\/obegef.pt\/wordpress\/?p=21045","title":{"rendered":"47# Working Paper"},"content":{"rendered":"<table border=\"0\" cellspacing=\"2\" cellpadding=\"2\">\n<tbody>\n<tr>\n<td align=\"center\" bgcolor=\"#c0c0c0\" width=\"270\"><a href=\"http:\/\/obegef.pt\/wordpress\/wp-content\/uploads\/2015\/07\/wp047.pdf\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-18190 size-full\" src=\"http:\/\/obegef.pt\/wordpress\/wp-content\/uploads\/2015\/07\/wp047.jpg\" alt=\"\" width=\"250\" height=\"128\" \/><\/a><\/td>\n<td valign=\"top\"><strong>Autores:<\/strong> Maria Fernandes, Matilde Cardoso e Paulo Martins<br \/>\n<strong>T\u00edtulo: <\/strong>O papel das ag\u00eancias de nota\u00e7\u00e3o financeira na crise do <em>subprime<\/em><br \/>\n<strong>Editor:<\/strong>\u00a0Edi\u00e7\u00f5es H\u00famus &amp; OBEGEF<br \/>\n<strong>Data:<\/strong>\u00a02015, Jul<br \/>\n<strong>P\u00e1ginas:<\/strong> 22<br \/>\n\u00a9: Observat\u00f3rio de Economia e Gest\u00e3o de Fraude<strong><strong><br \/>\n<\/strong><\/strong><strong>Formato ficheiro:<\/strong>\u00a0pdf (portable document format)<br \/>\n<strong>Dimens\u00e3o: <\/strong>363 kb<br \/>\n<strong>Solicita\u00e7\u00e3o:<\/strong>\u00a0<a href=\"mailto:geral@gestaodefraude.eu?Subject=Sobre%20%20wp027\">Transmita-nos<\/a>\u00a0a sua opini\u00e3o sobre este trabalho.<br \/>\n<!--more--><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p style=\"text-align: justify;\">(Carregue na imagem para importar o livro)<\/p>\n<p style=\"text-align: justify;\"><strong><strong>Resumo:<\/strong>\u00a0<\/strong><\/p>\n<p style=\"text-align: justify;\"><a href=\"http:\/\/obegef.pt\/wordpress\/wp-content\/uploads\/2009\/01\/pt.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-9 alignleft\" src=\"http:\/\/obegef.pt\/wordpress\/wp-content\/uploads\/2009\/01\/pt.jpg\" alt=\"texto em portugu\u00eas\" width=\"24\" height=\"24\" \/><\/a>O trabalho de investiga\u00e7\u00e3o versa o papel das ag\u00eancias de nota\u00e7\u00e3o financeira numa das maiores crises do in\u00edcio do s\u00e9culo XXI \u2013 a crise do subprime. Atrav\u00e9s de uma an\u00e1lise da hist\u00f3ria das ag\u00eancias de rating, sobretudo das tr\u00eas irm\u00e3s, compreende-se a altera\u00e7\u00e3o do seu modo de funcionamento e capacidade de influ\u00eancia ao longo do tempo. Ver-se-\u00e1 que o m\u00e9todo de pagamento pelo servi\u00e7o de avalia\u00e7\u00e3o do risco poder\u00e1 constituir uma das vari\u00e1veis chave do processo.<br \/>\nSe, por um lado, se verifica um aumento da regula\u00e7\u00e3o a que as ag\u00eancias de nota\u00e7\u00e3o financeira est\u00e3o sujeitas, por outro lado, a evid\u00eancia emp\u00edrica mostra que a gravidade da crise do subprime n\u00e3o reflete parte dos objetivos a que esta regula\u00e7\u00e3o se prop\u00f5e.<\/p>\n<p style=\"text-align: justify;\"><a href=\"http:\/\/obegef.pt\/wordpress\/wp-content\/uploads\/2009\/01\/en.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-11 alignleft\" src=\"http:\/\/obegef.pt\/wordpress\/wp-content\/uploads\/2009\/01\/en.jpg\" alt=\"Texto em ingl\u00eas\" width=\"25\" height=\"25\" \/><\/a>The research work concerns the role of rating agencies in one of the biggest crises of the early 21st century \u2013 the subprime crises. Through an analysis of the history of rating agencies, especially the three sisters, we are able to understand the change in its functioning mode and its influence capacity throughout time. We can also see that the payment method involving risk evaluation service could constitute one of the variables of the process key.<br \/>\nIf, on the one hand, we are able to verify an increase on the regulations to which rating agencies are bound to obey, on the other hand, the empirical evidence shows that the seriousness of the subprime crisis does not reflect on part of the goals that this regulation was designed to achieve.<\/p>\n<p><strong>\u00a9 Direitos de autor<\/strong>:<\/p>\n<p><em><strong>\u00c9 permitida<\/strong>\u00a0a importa\u00e7\u00e3o gratuita.<\/em><br \/>\n<strong>\u00c9 permitida<\/strong>\u00a0a c\u00f3pia de partes deste documento, sem qualquer modifica\u00e7\u00e3o, para utiliza\u00e7\u00e3o individual. A reprodu\u00e7\u00e3o de partes do seu conte\u00fado \u00e9 permitida exclusivamente em documentos cient\u00edficos, com indica\u00e7\u00e3o expressa da fonte.<br \/>\n<strong>N\u00e3o \u00e9 permitida<\/strong>\u00a0qualquer utiliza\u00e7\u00e3o comercial. N\u00e3o \u00e9 permitida a sua disponibiliza\u00e7\u00e3o atrav\u00e9s de rede electr\u00f3nica ou qualquer forma de partilha electr\u00f3nica.<br \/>\n<strong>Em caso de d\u00favida<\/strong>\u00a0ou pedido de autoriza\u00e7\u00e3o, contactar directamente o OBEGEF.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Autores: Maria Fernandes, Matilde Cardoso e Paulo Martins T\u00edtulo: O papel das ag\u00eancias de nota\u00e7\u00e3o financeira na crise do subprime Editor:\u00a0Edi\u00e7\u00f5es H\u00famus &amp; OBEGEF Data:\u00a02015, Jul P\u00e1ginas: 22 \u00a9: Observat\u00f3rio de Economia e Gest\u00e3o de Fraude Formato ficheiro:\u00a0pdf (portable document format) Dimens\u00e3o: 363 kb Solicita\u00e7\u00e3o:\u00a0Transmita-nos\u00a0a sua opini\u00e3o sobre este trabalho.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-21045","post","type-post","status-publish","format-standard","hentry","category-working-papers-publicacoes"],"_links":{"self":[{"href":"https:\/\/obegef.pt\/wordpress\/index.php?rest_route=\/wp\/v2\/posts\/21045","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/obegef.pt\/wordpress\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/obegef.pt\/wordpress\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/obegef.pt\/wordpress\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/obegef.pt\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=21045"}],"version-history":[{"count":3,"href":"https:\/\/obegef.pt\/wordpress\/index.php?rest_route=\/wp\/v2\/posts\/21045\/revisions"}],"predecessor-version":[{"id":21050,"href":"https:\/\/obegef.pt\/wordpress\/index.php?rest_route=\/wp\/v2\/posts\/21045\/revisions\/21050"}],"wp:attachment":[{"href":"https:\/\/obegef.pt\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=21045"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/obegef.pt\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=21045"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/obegef.pt\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=21045"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}