COVID-19, insurer board utility, and capital regulation | |
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學年 | 109 |
學期 | 1 |
出版(發表)日期 | 2020-10-01 |
作品名稱 | COVID-19, insurer board utility, and capital regulation |
作品名稱(其他語言) | |
著者 | Xuelian Li; Panpan Lin; Jyh-Horng Lin |
單位 | |
出版者 | |
著錄名稱、卷期、頁數 | Finance Research Letters 36, 101659 |
摘要 | This paper develops a down-and-out call option model by introducing a structural break in volatility to capture the coronavirus (COVID-19) outbreak. The life insurer's equity and its board’s utility are evaluated at the optimal guaranteed rate in the equity maximization. Results suggest that the seriousness degree of the COVID-19 outbreak and capital regulation enhance the optimal guaranteed rate and the board's utility. Increased the board's utility by increasing liabilities costs insurer profitability. Conflicts of incentives can arise during the COVID-19 outbreak. |
關鍵字 | Optimal guaranteed rate;Board utility;COVID-19;Capital regulation |
語言 | en |
ISSN | 1544-6131 |
期刊性質 | 國外 |
收錄於 | SSCI |
產學合作 | |
通訊作者 | Jyh-Horng Lin |
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/987654321/119686 ) |