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...

The Financial Accounting Standards Board (FASB) is currently evaluating proposed changes to the manner in which insurance companies account for, and currently capitalise, the costs of selling and initiating insurance contracts. Our study examines the potential effects of these proposed changes...

Very often business acquisition is associated with the introduction of new products, new markets and increase in the market share of the investee probably as a result of the increase in the economies of scale. This is usually anticipated in view of the intense due diligence exercise which...

When liquidity plays an important role as in times of financial crisis, asset prices in some markets may reflect the amount of liquidity available in the market rather than the future earning power of the asset. Mark-to-market accounting is not a desirable way to assess the solvency of a...

Much attention has been paid to the large decreases in value of non-agency residential mortgage-backed securities (RMBS) during the financial crisis. Many observers have argued that the fall in prices was partly driven by decreased liquidity and fire sales. We investigate whether capital...

This study examines the accuracy of relative valuation methods in the U.S. insurance industry, using price as a proxy for intrinsic value. The approaches differ in terms of the fundamentals used, the adjustments made to the fundamentals, the use of conditioning variables, and the selection of...

I examine how IFRS 17 Insurance Contracts affects the firm value of insurers reporting under IFRS (“IFRS insurers”). Studying 427 insurers' stock returns around sixteen events affecting the chance that IFRS 17 passes, I find that the introduction of IFRS 17 is on average associated with...

Objective - Insurance companies in Indonesia are considered an important part of society by the Indonesian government. Corporate governance was a major problem during the post-financial crisis period, particularly in emerging markets in Indonesia. Financial Institutions considered the...

We investigate the impact of recurring fair value versus amortized cost measurement for accounting recognition purposes on the timeliness of insurers' other-than-temporary (OTT) impairments of non-agency residential mortgage-backed securities (NAMBS) around the 2007–2009 financial crisis....

In this paper, we investigate earnings management surrounding forced CEO turnover for U.S. property-casualty insurance companies with differing organizational forms. We analyze the three principal organizational form types in the industry – publicly-traded stocks, closely-held stocks, and...