Choi, Byeongyong Paul; Park, Jin; Ho, Chia-Ling - In: Managerial Finance 42 (2016) 7, pp. 618-634
Purpose – The purpose of this paper is twofold: first, this paper measures how much liquidity is transformed by the US life insurance industry for the sample period; and Second, this study tests the “risk absorption” hypothesis and “financial fragility-crowding out” hypothesis to...