Borrower capital, shadow insurance, and life insurer performance
學年 109
學期 2
出版（發表）日期 2021-03-16
作品名稱 Borrower capital, shadow insurance, and life insurer performance
作品名稱（其他語言）
著者 Jyh-Horng Lin; Fu-Wei Huang; Chuen-Ping Chang
單位
出版者
著錄名稱、卷期、頁數 Applied Economics Letters v.28 n.7, p.531-534
摘要 The paper develops a ‘capped’ call option model by calibrating Briys and de Varenne (1994) with integrating Dermine and Lajeri (2001) that the borrowing-firm credit risk is introduced to the lending function of the insurer. Results show that shadow banking entrusted loans enhance policyholder protection and help the insurer from the standpoint of survival at the cost of insurer profitability. We also suggest that shadow insurance and lending to high-quality borrowing firms captured by low leverage might increase policyholder protection and insurer survival, thereby contributing to insurance stability.
關鍵字 Borrower capital;shadow insurance;capped call option;life insurer
語言 en
ISSN 1466-4291
期刊性質 國外
收錄於 SSCI
產學合作
通訊作者 Chuen-Ping Chang
審稿制度 是
國別 GBR
公開徵稿
出版型式 ,電子版,紙本
相關連結

機構典藏連結 ( http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/119719 )