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findings provide the first joint evidence that affiliated insurance companies have target leverage ratios and that ICM activity …
Persistent link: https://www.econbiz.de/10010608663
. This capital cost can be reduced by hedging longevity risk with longevity swaps, a form of reinsurance. We assess the costs …, rather than transferring this to the reinsurance or the capital markets. This aspect of the Solvency II capital requirements …
Persistent link: https://www.econbiz.de/10010753215
In crisis times, insurance companies might feel the pressure to present a performance of their investment portfolios … influences insurance firms' decisions on the allocation of credit risk bearing assets in their investment portfolio. I find …
Persistent link: https://www.econbiz.de/10013502411
We test the hypothesis that practicing enterprise risk management (ERM) reduces firms’ cost of reducing risk. Adoption of ERM represents a radical paradigm shift from the traditional method of managing risks individually to managing risks collectively allowing ERM-adopting firms to better...
Persistent link: https://www.econbiz.de/10010777133
control between the shareholders and managers of Chinese firms motivates the decision to purchase property insurance … entrenchment’. However, the score for the index does not affect the amount of insurance coverage purchased. Moreover, agency costs … do not appear to impact on the insurance decisions of Chinese firms suggesting that the corporate governance …
Persistent link: https://www.econbiz.de/10010595134
We test the hypothesis that practicing enterprise risk management (ERM) reduces firms’ cost of reducing risk. Adoption of ERM represents a radical paradigm shift from the traditional method of managing risks individually to managing risks collectively allowing ERM-adopting firms to better...
Persistent link: https://www.econbiz.de/10011118051
This paper reviews the state of the banking sector in Europe. At the aggregate level, the empirical data suggest that the Baltics, Cyprus, Greece and Ireland, in particular, are hit by a strong decline in lending in the wake of the financial crisis. This deleveraging is mainly caused by a...
Persistent link: https://www.econbiz.de/10010231412
insurance companies) on the leverage of the firm using a novel data set. Our main finding is that the supply uncertainty of the … investors holding the firm's bonds, or (iii) the prevalence of mutual funds among the firm's bondholders as opposed to insurance …
Persistent link: https://www.econbiz.de/10011039228
can also be offered by hedge funds. In principle, traditional reinsurance contracts are still preferred as a measure of … retrocession reinsurance market. There has been no comprehensive analysis of these instruments in academic literature to date …
Persistent link: https://www.econbiz.de/10009415546
federal crop insurance program. Governed by the Standard Reinsurance Agreement (SRA), private crop insurance companies must … reinsurance. This information and framework may also be useful for crop insurance firms in China when considering crop reinsurance … focused on agricultural insurance decisions by firms, the concept could be applied to general reinsurance decisions. …
Persistent link: https://www.econbiz.de/10008464916