教師資料查詢 | 類別: 期刊論文 | 教師: 何佳玲HO, CHIA-LING (瀏覽個人網頁)

標題:Organisational Structure, Corporate Governance and Reinsurance Decisions in the US Property-Liability Insurance Industry
學年109
學期2
出版(發表)日期2021/05/20
作品名稱Organisational Structure, Corporate Governance and Reinsurance Decisions in the US Property-Liability Insurance Industry
作品名稱(其他語言)
著者Chia-Ling Ho; Gene Lai; Sangyong Han; Licheng Jin
單位
出版者
著錄名稱、卷期、頁數The Geneva Papers on Risk and Insurance-Issues and Practice
摘要This paper investigates the impact of organisational structure and corporate governance on reinsurance decisions in the U.S. property-liability insurance industry. Our evidence shows that mutual insurers, mutual-owned stock insurers and stock insurers whose ultimate parent is publicly traded are likely to purchase more reinsurance from non-affiliated reinsurers than stock insurers closely held by managers. We also find that corporate governance significantly influences reinsurance purchases; specifically, CEO/chairperson duality is associated with lower reinsurance purchases while the percentage of independent directors on the board is positively (negatively) related to reinsurance purchases from non-affiliated (affiliated) reinsurers. Higher audit quality is associated with lower (higher) reinsurance purchases from non-affiliated (affiliated) reinsurers. Moreover, many interaction terms between organisational structure and corporate governance have significant effects on reinsurance decisions. Finally, we provide evidence that the Sarbanes–Oxley Act (SOX) has a substantial effect on the relation between organisational structure (corporate governance) and reinsurance decisions. The overall effect of SOX on reinsurance purchase from non-affiliated reinsurers is negative, implying that better investor protection results in higher risk taking and less risk shifting to outside reinsurers.
關鍵字Organisational structure;Corporate governance;Reinsurance decision;SOX
語言英文
ISSN1468-0440
期刊性質國外
收錄於SSCI;
產學合作
通訊作者
審稿制度
國別瑞士
公開徵稿
出版型式,電子版
相關連結
SDGs
  • 優質教育,尊嚴就業與經濟發展,負責任的消費與生產
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