{
 "@context": "https://schema.org",
 "@type": "Claim",
 "@id": "https://wulfkaal.github.io/claims/1428387-024",
 "identifier": "kaal:claim:1428387-024",
 "text": "The issuer-buyer relationship and the incentives inside it are unlikely to be able to adequately control the principal-agent relationship between issuer and rating agency so as to ensure accurate ratings.",
 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0009-0008-7840-1847"
 },
 "citation": "Kaal, Hedge Fund Valuation Retailization, Regulation, and Investor Suitability (2009). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1428387",
 "isBasedOn": {
  "@type": "ScholarlyArticle",
  "name": "Hedge Fund Valuation Retailization, Regulation, and Investor Suitability",
  "datePublished": "2009",
  "url": "https://ssrn.com/abstract=1428387",
  "sha256": "6aa3a280dc6750723be2389f3af2aabf3a16c4ce20e49fcdaddd7f2ea95a67aa",
  "encoding": "https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202009%20-%20Hedge%20Fund%20Valuation%20Retailization%2C%20Regulation%2C%20and%20Investor%20Suitability.pdf"
 },
 "keywords": [
  "compliance",
  "ai-and-agents",
  "corporate-governance"
 ],
 "about": [
  "rating-agencies",
  "monitoring-failure",
  "principal-agent",
  "cdo"
 ],
 "abstract": "It seems unlikely that the issuer-buyer relationship and the incentives inherent within could adequately control the principal-agent relationship between issuer and rating agency to ensure accurate ratings.",
 "additionalProperty": [
  {
   "@type": "PropertyValue",
   "name": "claim_type",
   "value": "failure"
  },
  {
   "@type": "PropertyValue",
   "name": "confidence",
   "value": "argued"
  },
  {
   "@type": "PropertyValue",
   "name": "scope_conditions",
   "value": [
    "under the issuer-pays rating model for CDOs"
   ]
  },
  {
   "@type": "PropertyValue",
   "name": "is_failure_mode",
   "value": true
  },
  {
   "@type": "PropertyValue",
   "name": "attestations",
   "value": "https://wulfkaal.github.io/colloquium/attestations/e96c7f3180eca8f6bc196677cae397f5123fe0939663833fc74d9410b68715c2.json"
  },
  {
   "@type": "PropertyValue",
   "name": "edges",
   "value": []
  }
 ],
 "isPartOf": {
  "@id": "https://wulfkaal.github.io/claims/index.json"
 },
 "dateModified": "2026-07-27",
 "version": "1.0",
 "sha256": "e96c7f3180eca8f6bc196677cae397f5123fe0939663833fc74d9410b68715c2",
 "canonicalForm": "https://wulfkaal.github.io/claims/1428387-024.md"
}