This paper explores the impact of capital adequacy requirements on the investment behavior of insurance companies from a new perspective. We specifically investigate one important feature of Risk-Based Capital (RBC) system, the square root rule in aggregating risk categories. We show that the...

We study the impacts of local gender imbalance on corporate risk-taking. We find that firms in areas with higher local male-female ratios have higher stock volatilities and leverage, less corporate hedging, and more capital expenditures. Consequently, such firms face higher loan spreads and more...