International Corporate Finance - Impact of financial ratios on long term credit ratings

Inhaltsverzeichnis (Table of Contents)

• SUMMARY
• ACKNOWLEDGEMENTS
• CHAPTER 1: INTRODUCTION
• 1.1 The Importance of Credit Ratings
• 1.2 The Significance of this Research
• 1.3 Scope and Structure of this Thesis
• CHAPTER 2: LITERATURE REVIEW
• 2.1 Rating Agencies and their Ratings
• 2.2 Determinants of Credit Ratings
• 2.3 Financial Ratios and their Impact on Credit Ratings
• 2.4 Limitations and Challenges of Applying Financial Ratios to Credit Ratings
• CHAPTER 3: RESEARCH METHODOLOGY
• 3.1 Data Collection
• 3.2 Statistical Analysis
• 3.3 Data Limitations
• CHAPTER 4: ANALYSIS AND RESULTS
• 4.1 BMW Group
• 4.2 Daimler Group
• 4.3 Ford Motor Company
• CHAPTER 5: DISCUSSION
• 5.1 Summary of Results
• 5.2 Implications and Recommendations
• 5.3 Limitations and Future Research
• CONCLUSION

Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)

This master thesis investigates the relationship between long-term credit ratings and specific financial ratios derived from publicly available information. It aims to determine how these financial ratios can influence credit ratings, providing valuable insight for companies and investors. The research uses three automotive manufacturers (BMW Group, Daimler Group, and Ford Motor Company) as case studies, analyzing their credit ratings over a decade.

• The impact of financial ratios on long-term credit ratings
• The significance of credit ratings in the context of financial markets
• The application of statistical analysis to examine the relationship between financial ratios and credit ratings
• The implications of the research findings for companies, investors, and rating agencies
• The limitations of using financial ratios as a sole determinant of credit ratings

Zusammenfassung der Kapitel (Chapter Summaries)

• CHAPTER 1: INTRODUCTION: This chapter introduces the research topic, highlighting the importance of credit ratings and the significance of understanding their relationship with financial ratios. It also outlines the scope and structure of the thesis.
• CHAPTER 2: LITERATURE REVIEW: This chapter provides a comprehensive overview of existing literature on credit ratings, including the roles of rating agencies, determinants of credit ratings, and the use of financial ratios in credit rating analysis. It also discusses the challenges associated with applying financial ratios to credit ratings.
• CHAPTER 3: RESEARCH METHODOLOGY: This chapter details the research methodology, including data collection procedures, statistical analysis techniques, and potential data limitations. It outlines the specific approach used in the thesis.
• CHAPTER 4: ANALYSIS AND RESULTS: This chapter presents the analysis and results of the study, focusing on the relationship between financial ratios and credit ratings for each of the three automotive manufacturers. It includes detailed discussions of the findings for each company.
• CHAPTER 5: DISCUSSION: This chapter summarizes the main findings of the study and discusses their implications for companies, investors, and rating agencies. It also identifies limitations of the study and suggests areas for future research.

Schlüsselwörter (Keywords)

The study focuses on the relationship between long-term credit ratings and financial ratios in the context of the automotive industry. Key concepts explored include credit rating agencies, financial ratios, statistical analysis, and the impact of financial performance on creditworthiness.