This paper aims to analyze how the introduction and/or the changes of capital regulation affect bank stock prices, and how the introduction and/or the changes of accounting regulation affect bank stock prices. In this study, an agency model was used to describe how an introduction of the capital...

Purpose – The purpose of this paper is to discuss whether insurers could have a strong motivation for M&A in the future because they need to survive within the industry under oversaturated market conditions. Recently, Japanese non‐life insurance markets, mainly the automobile insurance...

Purpose – The purpose of this paper is to investigate the insurance market in which moral hazard and insurance fraud coexist. In this situation, this research examines the relationship between moral hazard and insurance fraud. Also, this research shows how the amount of policyholder's effort...

The purpose of this paper is to investigate both cooperative and competitive strategies of firms that may cause accidents. The firms may exchange information about the previous accidents associated with their products in order to reduce accident probabilities and the amount of damage. Thus,...