Issues associated with the relation between the separation of ownership and management and risk-taking behavior have been considered in an array of studies, with varying results. Due to the wide variety of ownership structures present, the property-casualty insurance industry provides an...

Directors and officers liability insurance (D&O insurance) has gradually emerged as a vital component of external governance mechanism, allowing the appropriate transfer of decision-making risks to insurance companies. While D&O insurance can serve as an incentive for directors to actively...