期刊論文
| 學年 | 112 |
|---|---|
| 學期 | 2 |
| 出版（發表）日期 | 2024-02-19 |
| 作品名稱 | Internal versus external capital markets and risk-taking |
| 作品名稱（其他語言） | |
| 著者 | Hsiao, Ching-yuan |
| 單位 | |
| 出版者 | |
| 著錄名稱、卷期、頁數 | International Review of Economics and Finance 92, p.503-519 |
| 摘要 | We examine the effects of internal capital transfer and external capital issuance on asset risk-taking using a database containing detailed information on capital. Consistent with capital buffer theory, we find that external capital issuance is positively related to risk-taking adjustment. We also find that the funds received via internal capital transfers are negatively related to risk-taking adjustment among affiliated insurers with lower capitalization and negative profitability, underscoring the monitoring role of groups with affiliates' risk-taking behavior. Our results emphasize the sharp contrast between internal capital transfer and external capital issuances on affiliates’ risk-taking. |
| 關鍵字 | Internal capital transfer;External capital issuance;Risk-taking;Capital buffer theory;Internal capital markets |
| 語言 | en |
| ISSN | 1873-8036 |
| 期刊性質 | 國外 |
| 收錄於 | SSCI ABS* |
| 產學合作 | |
| 通訊作者 | Yung-Ming Shiu |
| 審稿制度 | 是 |
| 國別 | NLD |
| 公開徵稿 | |
| 出版型式 | ,電子版 |
| 相關連結 |
機構典藏連結 ( http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/125095 ) |