from underwriting insurance policies affects insurers' risk taking behavior in their portfolio investments. We find that …This study empirically examines, in the setting of insurance companies, the hypothesis that investors facing more … operating risk may behave as if they were more risk averse in investment decisions. Specifically, we study how operating risk …

This paper identifies the risk and risk-adjusted return determinants of US insurers. We find that the significant firm …-specific determinants for risk and risk-adjusted return vary slightly for the risk proxy and risk-adjusted return proxy used, and the types … to both total risk and systematic risk; in addition, size is positively related to systematic risk. Profitability and …

We study the effect of an asymmetric environment on risk sharing. In our model, entrepreneurs consider undertaking … asymmetric environment, the returns on the alternative risk-free investment are allowed to differ between the entrepreneurs and … the presence of asymmetric options establishes links between the risk-free and risky sectors as well as between the real …

We study the effect of an asymmetric environment on risk sharing. In our model, entrepreneurs consider undertaking … asymmetric environment, the returns on the alternative risk-free investment are allowed to differ between the entrepreneurs and … the presence of asymmetric options establishes links between the risk-free and risky sectors as well as between the real …