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Risk Selection in Natural Disaster Insurance – the Case of France
Jametti, Mario; Ungern-Sternberg, Thomas von - CESifo - 2006
It is widely recognized that “market failure” prevents efficient risk sharing in natural disaster insurance. As a …-private partnerships. We define risk selection as a situation where private companies pass insurance of high risk agents on to the public …
Persistent link: https://www.econbiz.de/10005181344
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Nitpicky Insurers and the Law of Contracts
Bourgeon, Jean-Marc - 2017
that hardly explains the many features of an insurance contract. We extend this setup to include the situation that the … show how the law of insurance contracts should allow insurers to incentivize policyholders to exert an adequate level of …
Persistent link: https://www.econbiz.de/10012945057
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The Nature of Risk Preferences : Evidence from Insurance Choices
Barseghyan, Levon; Molinari, Francesca; O'Donoghue, Ted; … - 2021
We use data on insurance deductible choices to estimate a structural model of risky choice that incorporates 'standard …
Persistent link: https://www.econbiz.de/10013315858
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Remittances, Banking Status and the Usage of Insurance Schemes
Crayen, Dorothee - 2013
can be used to self-insure, substituting for both formal and informal insurance. We investigate this question using a … remittances, which supports the idea that remittances act as (self-) insurance. We also show that purchasing formal funeral cover … is influenced by other risk management strategies and that determinants of informal insurance differ from those of formal …
Persistent link: https://www.econbiz.de/10013094542
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Remittances, Banking Status and the Usage of Insurance Schemes
Crayen, Dorothee; Hainz, Christa; Martinez, Christiane … - CESifo - 2010
can be used to self-insure, substituting for both formal and informal insurance. We investigate this question using a … remittances, which supports the idea that remittances act as (self-) insurance. We also show that purchasing formal funeral cover … is influenced by other risk management strategies and that determinants of informal insurance differ from those of formal …
Persistent link: https://www.econbiz.de/10008572573
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Flexible Prices and Leverage
D'Acunto, Francesco - 2017
The frequency with which firms adjust output prices helps explain persistent differences in capital structure across firms. Unconditionally, the most exible-price firms have a 19% higher long-term leverage ratio than the most sticky-price firms, controlling for known determinants of capital...
Persistent link: https://www.econbiz.de/10012962123
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Investor Taxation, Firm Heterogeneity and Capital Structure Choice
Haring, Magdalena - 2016
We analyze the effect of investor level taxes, firm-specific ownership structure and firm-specific payout policy on firms' capital structure choice. Our analysis is based on data for 10,983 firms from 13 Central and Eastern European (CEE) countries over the time period 2002-2012. Our results...
Persistent link: https://www.econbiz.de/10012979608
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Thin Capitalization Rules and Multinational Firm Capital Structure
Blouin, Jennifer - 2014
This paper examines the impact of thin capitalization rules that limit the tax deductibility of interest on the capital structure of the foreign affiliates of US multinationals. We construct a new data set on thin capitalization rules in 54 countries for the period 1982-2004. Using confidential...
Persistent link: https://www.econbiz.de/10013055986
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The Impact of Basel III on Trade Finance : The Potential Unintended Consequences of the Leverage Ratio
Auboin, Marc - 2014
Trade finance, particularly in the form of short-term letters of credit has received favourable capital treatment new Basel III rules. However, concerns have been expressed over the potential negative “unintended consequences” of the newly created leverage ratio for trade. This paper offers...
Persistent link: https://www.econbiz.de/10013046587
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Capital Structure and Regulation in U.S. Local Telephony : An Exploratory Econometric Study
Resende, Marcelo - 2021
The paper aims at empirically investigating the relationship between regulation and the capital structure of the regulated firm, A key aspect of the referred relationship pertains a leverage effect according to which debt could be increased as a response to previous physical capital investment...
Persistent link: https://www.econbiz.de/10013316358