Showing 1 - 10 of 2,879
This paper focuses on the predictive validity of the upper secondary grade point average (GPA), when used as selection … university between the years 1993 to 1996. The predictive validity is studied by correlating the GPA from upper secondary school …
Persistent link: https://www.econbiz.de/10010321150
To their credit, empirical legal scholars try to live up to the highest methodological standards from the social sciences. But these standards do not always match the legal research question. This paper focuses on normative legal argument based on empirical evidence. Whether there is a normative...
Persistent link: https://www.econbiz.de/10011688382
To their credit, empirical legal scholars try to live up to the highest methodological standards from the social sciences. But these standards do not always match the legal research question. This paper focuses on normative legal argument based on empirical evidence. Whether there is a normative...
Persistent link: https://www.econbiz.de/10011645949
Persistent link: https://www.econbiz.de/10012429686
The paper develops the Öxed-smoothing asymptotics in a two-step GMM framework. Under this type of asymptotics, the weighting matrix in the second-step GMM criterion function converges weakly to a random matrix and the two-step GMM estimator is asymptotically mixed normal. Nevertheless, the Wald...
Persistent link: https://www.econbiz.de/10011130682
In the presence of heteroscedasticity and autocorrelation of unknown forms, the covariance matrix of the parameter estimator is often estimated using a nonparametric kernel method that involves a lag truncation parameter. Depending on whether this lag truncation parameter is specified to grow at...
Persistent link: https://www.econbiz.de/10010817541
The aim of this paper is to develop an alternative approach for assessing an insurer’s solvency as a proposal for a standard model for Solvency II. Instead ofderiving minimum capital requirements—as it is done in solvency regulation—our model provides company-specific minimum standards for...
Persistent link: https://www.econbiz.de/10005861466
The aim of this article is to identify fair equity-premium combinations for non-lifeinsurers that satisfy solvency capital requirements imposed by regulatory authorities. In particular, we compare target capital erived using the value at risk concept as planned for Solvency II in the European...
Persistent link: https://www.econbiz.de/10005861470
The purpose of this article is a qualitative economic impact assessment of the SolvencyII proposals. In a first step, we elaborate the economic foundations of insurancemarket regulation. Based on three sources of market failure, we derive economicobjectives of regulatory intervention. In our...
Persistent link: https://www.econbiz.de/10005861472
Dynamic financial analysis (DFA) models an insurance company’s cash flow inorder to forecast assets, liabilities, and ruin probabilities, as well as full balancesheets for different scenarios. In the last years DFA has become an important toolfor the analysis of an insurance company’s...
Persistent link: https://www.econbiz.de/10005861549