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Asymmetry Information、Cost and Emergence of Bond Bating Industry

Li Xiaomei and Si Xunlian (School of Business and Administration of Xi'an University of Technology)  
This Paper analyses the emergence of bond rating industry based on the opinions of economics of information and economics of property rights. the analysis reveals economics significance covered by the phenomenon of demand creating something, that is,it considers adverse selection、moral hazard and cost under imperfect information. Then bond rating industry births out.Asymmetry of information and cost are the core factors which push it from non_existence to existence.
【CateGory Index】: F830.9
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