influences the equity position and investment strategy of a shareholder-value-maximising insurance company. Intuitively, a higher … regulation ; capital requirements ; asset allocation ; insurer default risk …

This paper compares the shareholder-value-maximizing capital structure and pricing policy of insurance groups against … instruments. We show that using these instruments enables the group to offer insurance with less default risk and at lower … group building being beneficial for shareholders but detrimental for policyholders. -- Insurance groups ; insurer default …

. Contrary to claims in the literature that "equity is expensive" and that regulation requiring more equity in the funding mix … entails costs to society, such regulation actually helps create useful commitment for banks to avoid the inefficiently high … borrowing that comes under laissez-faire. Effective regulation is beneficial even without considering systemic risk; if such …

benefits. Contrary to claims in the literature that “equity is expensive” and that regulation requiring more equity in the … funding mix entails costs to society, such regulation actually helps create useful commitment for banks to avoid the … inefficiently high borrowing that comes under laissez-faire. Effective regulation is beneficial even without considering systemic …

different capital structure regulation mechanisms on the optimal capital structure, a static trade-off-theory model of capital …With the introduction of incentive regulation in many network industries, different approaches how to remunerate … invested capital have been used. Under incentive regulation, many regulators remunerate the regulated asset base with a …