Public values and function creep of the financial rating by local authorities
- Type de publi. : Article dans une revue
- Date de publi. : 01/01/2015
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Auteurs :
Muriel MichelSerge Rouot
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Organismes :
Centre Européen de Recherche en Economie Financière et Gestion des Entreprises
Centre Européen de Recherche en Economie Financière et Gestion des Entreprises
- Publié dans International Review of Administrative Sciences le 31/10/2020
Résumé : As issuers, local authorities have credit ratings that are used in the search for direct funding from the capital markets. However, some local officials also use their ratings as instruments of local public reporting. Does this function creep affect the public values of local authorities? In line with the theory of publicness (Bozeman, 2007), a measurement of this publicness and the detection of public values (Jorgensen and Bozeman, 2002, 2007) are proposed both for the authorities that expressly mention their rating and those that make no mention of it. A textual analysis of their respective discourses reveals a function creep that conveys a lesser degree of publicness and ‘market’-oriented public values, but also generates one public value: transparency.
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