Insurance is a concept, a technique, and an economic institution. It is a major tool of risk management, and plays an important role in the economic, social, and political life of all countries. Economic growth throughout the world has even expanded the role of insurance. Theory and Practice of...

In this paper we take a look at the empirical relationship between the level of financial development and socio-economic variables reflecting different levels of development in the light of the recent literature on the role of human capital in economic development. The empirical results, based...

Cross section regressions are used to evaluate the extent of economies of scale in the property-liability insurance industry prior to 1978 and to explain the increased number of mergers between 1978 and 1981 in the Quebec market. The second and third section of this paper discusses the...

Purpose – This article aims to examine the existence of an underwriting cycle in property-liability insurance for France, Germany and Switzerland (primary markets) and for the European reinsurance industry. It is also aimed to test how the two markets are related with each other in each...

This article has two objectives. The first is the documentation of the relative importance of the largest insurance or reinsurance companies in the world and changes that may have occurred in the past 15 years. The second objective is to identify some of the factors that may explain the...

The objective is to examine the determinants of the relationship between insurance growth and economic development. This paper contributes to this body of research by providing an extensive literature review of empirical studies that have looked at both sides of the relationship, i.e. the demand...

The objective of the paper is to identify some of the determinants of foreign investment of the largest multinational enterprises (MNEs) operating in the wine industry. The list of the largest MNEs has been compiled using financial databases and company websites. The results of this study have...

Purpose The purpose of this paper is to present a new methodology to estimate the migration of grades of top rated restaurant and the default rate over time. Design/methodology/approach To demonstrate how to develop migration matrices the empirical results are based on the real number of...

Purpose The purpose of this paper is to examine the purchase decision of consumers when faced with a perceived risk related to a “corked” wine for different levels of price. It provides an example of a study of consumer behavior in the context of risk aversion and when a risk-reduction...