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This paper investigates the role of technical reserves affecting income smoothing behavior of insurance companies. This … is one of the first attempts in the literature to trace such relationship in the insurance industry, especially at a … multi-country setting. The experience of 770 insurance firms operating in 87 countries over the 2000-2009 reveals that there …
Persistent link: https://www.econbiz.de/10013025189
Using a sample of 50 countries during 2000-2008, this study investigates the possible impact of insurance regulations … on life insurance consumption. The evidence reveals a negative and statistically significant association between … supervisory control of the policy conditions of life annuities and pension products and life insurance consumption. A similar …
Persistent link: https://www.econbiz.de/10013038126
efficiency changes of 399 listed insurance firms in 52 countries during the 2002-2008 period, the paper reports a positive and …
Persistent link: https://www.econbiz.de/10012148185
efficiency changes of 399 listed insurance firms in 52 countries during the 2002-2008 period, the paper reports a positive and …
Persistent link: https://www.econbiz.de/10013075608
This paper investigates the role of technical reserves in the income smoothing behavior of insurance companies. This is … one of the first attempts in the literature to trace such relationship in the insurance industry, especially at a multi …-country setting. The experience of 770 insurance firms operating in 87 countries over the period 2000-2009 reveals that there is a …
Persistent link: https://www.econbiz.de/10013017161
efficiency changes of 399 listed insurance firms in 52 countries during the 2002-2008 period, the paper reports a positive and …
Persistent link: https://www.econbiz.de/10010691316
Do banks use credit default swap hedging to substitute for loan sales? By tracking banks' lending exposures and CDS positions on individual firms, we find that banks use CDS hedging to complement rather than to substitute for loan sales. Consequently, bank loan sales are higher for firms that...
Persistent link: https://www.econbiz.de/10012148278
​We test five hypotheses on whether banks use CDS to hedge corporate loans, provide credit enhancements, obtain regulatory capital relief, and exploit banking relationship and private information. Linking large banks' CDS positions and syndicated lending on individual firms, we observe strong...
Persistent link: https://www.econbiz.de/10012148279
We study the effect of loan portfolio focus vs. diversification on the return and the risk of 105 Italian banks over the period 1993-1999 using data on bank-by-bank exposures to different industries and sectors. We find that diversification is not guaranteed to produce superior performance...
Persistent link: https://www.econbiz.de/10012785653
This paper investigates how lenders react to borrowers' rating changes under heterogeneous conditions and different regulatory regimes. Our findings suggest that corporate downgrades that increase capital requirements for lending banks under the Basel II framework are associated with increased...
Persistent link: https://www.econbiz.de/10012823142