Purpose: This paper aims to study differences in risk behavior between holding companies that undertake both banking activity and insurance underwriting (labeled financial holding companies or FHCs) and stand-alone bank holding companies (BHCs). Design/methodology/approach: The paper examines...

We investigate how investor protection, government quality, and contract enforcement affect risk-taking and performance of insurance companies from around the world. We find that better investor protection results in less risk-taking, as do higher quality government and greater contract...

This study examines the recent, significant growth in the appointment of CROs, the role of the CRO, and whether such appointments benefit shareholders. We find that the market is more likely to react positively to an appointment of a CRO the weaker a firm's corporate governance. In particular,...