, - . , , , , . (: Financial Times, The Wall Street Journal, ; - ; Internet) . , . , . , , . () , .
Dow Jones Industrial Average, DJIA -, 30 , NYSE. , IBM, General Electric ., (blue chips). . ( , ) , . , , , . , , . , -, 10 , : 90- 3000, 12000 ( XX 1932 , 42,11). DJIA : (Home Bonds); 20 (Transport); 15 (Utilities).
, , NYSE, NYSE Composite. - Standard and Poors 500 (S&P 500), 400 , 40 , 40 20 . S&P Industrials S&P Financials. , S&P 500 , Standard and Poors Composite. 80% NYSE. , . .
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- . (AMEX), , NYSE. AMEX (AMEX Market Value), 800 . 4.1, NASDAQ, - , Internet.
: , 1997 Internet- 1000 , 2000 , . , , , . , , . - 2000 , 2 . . . , NASDAQ , - . NASDAQ Composite.
. NYSE 30 , 1935 Financial Times FT Ordinary Share Index FT 30. , FT-SE 100 Footsie () . Nikkei (). DAX. Reuters. . RTS1-Interfax. . . , , ( , , Internet-). DJIA: . NASDAQ Composite .
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, (over the counter). . . , . 1909 . (John Moody), , Dun and Bradctreet. John Moody Dun and Bradstreet. Moodys Investors Service ( Moodys). . Moodys Standard and Poors S&P. ( , ). : Fitch Investors Service ( - Fitch) Duff and Phelps Credit Rating Company ( - Duff and Phelps). ( , , , , .). (, ) Standard and Poors.
, , , , .. . , AM Best Company Thomson Bankwatch .
4.4.1. ,
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(S&P) | ||||||
S&P | Moody's | Fitch | Duff&Phelps | |||
AAA | Aaa | AAA | AAA | . | ||
AA | Aa | AA | AA | . | ||
A | A | A | A | , . | ||
BBB | Baa | BBB | BBB | , . ( , , .) | ||
| ||||||
BB | Ba | BB | BB | , . , , . | ||
B | B | B | B | , . , . | ||
CCC | Caa | CCC | CCC | . , . . | ||
CC | CC | . (Fitch: .) | ||||
C | Ca | C | , . (Fitch: .) | |||
D | C | DDD/DD/D | DD | . , , . , S&P , . (Fitch: DDD , D - .) | ||
S&P + - AA . , +, , -. Moody's 1, 2, 3 Aa B: Ba1, Ba2, Ba3. Fitch + -. Duff&Phelps + - .
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. , () . . ( ) . , . , , , .
. , Standard and Poors. 4.4.1 , . S&P, .
( ) . , Moodys AAA, . . 2000 + S&P Fitch. Moodys B. Fitch S&P . .
. . . , , .
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4
1. .. . .: , , 1999, . 14 38.
2. ., . . .: , 1997, . 309 395.
3. . . . .: -˔, 1995. 208 .
4. . . .: , 1999. 400 .
5. . (12 . ). .: , 1992. 32 .
6. . . .: , 1997, . 7 47; 379 417.
7. ., . -. .: -, 1998. 384 .
8. Β ., . (FAST). .: Ĕ, 1995, . 111 136.
9. . . .: , 1998. 208 .
10. . . .: -̔, 1998. 416 .
11. ( ). .: -, 1998, . 222 319.
12. ., ., . . .: -, 1997, . 21 94.