Borrower capital, shadow insurance, and life insurer performance | |
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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 ) |