To many, the principal-agent model is the obvious lens through which executive pay should be viewed. Such a sentiment sits uncomfortably with a large number of empirical studies suggesting that the process of determining executive pay seems to be more readily explained by recourse to arguments...

The paper discusses the corporate demand for insurance by offering a brief review of the theoretical work in the area and by presenting the results of a survey of large U.K. companies with regard to their insurance purchase decision. It is argued that the usual pooling-of-risks motivation for...