We measure insurer responses to new exogenous ratemaking information — changes in credit risk beginning in 2007 — to determine if market competition is effective in protecting consumers. Extant literature yields mixed conclusions regarding efficiency and competition in insurance markets. We...

Purpose This opinion piece outlines the actions taken by the New Zealand government and tourism sectors in response to Covid-19 and to explore the potential lessons for resilience building in tourism for other destinations. Design/methodology/approach The analysis integrates descriptions of the...

Research argues that short sellers are informed investors as current short selling relates inversely with future returns. However, empirical results have yet to determine whether short sellers trade on private information before, say, an upcoming negative new. This paper takes a step in this...

We examine short selling activity of NYSE-listed insurance stocks around Hurricanes Katrina and Rita. We find that abnormal short selling does not increase until two trading days after the landfall of Hurricane Katrina and that short selling activity is much more significant around Rita. We find...

Prior work shows that both short sales and put options contain information about future stock prices. In this study, we compare the return predictability in short sales to the return predictability in put options. The motivation for this comparison is based on the theoretical argument that...