creditors to grant concessions outside formal bankruptcy. We study the joint impact of the two indexes on a firm's leverage … indexes are high. When aggregated at the country level, these firm-level results suggest that bankruptcy law can influence the …

This paper investigates systemic risk in the insurance industry. We first analyze the systemic contribution of the … insurance industry vis-à-vis other industries by applying 3 measures, namely the linear Granger causality test, conditional … Europe over the last 14 years. We then analyze the determinants of the systemic risk contribution within the insurance …

This paper investigates systemic risk in the insurance industry. We first analyze the systemic contribution of the … insurance industry vis-a-vis other industries by applying 3 measures, namely the linear Granger causality test, conditional … Europe over the last 14 years. We then analyze the determinants of the systemic risk contribution within the insurance …

relevant for insurance companies' capital structure. This research examines this questions with firm-level data across a broad … range of countries including those in developing markets. What we find is that the optimal capital structure of insurance …-sectional variation in insurance companies' capitalization levels. Our results add to the current policy discussion on global regulatory …

unemployment risk. We exploit changes in state unemployment insurance laws as a source of variation in the costs borne by workers …

from their human capital tend to maintain a lower debt ratio in an effort to reduce the indirect bankruptcy costs that …