Free riding and insurer carbon-linked investment
學年 110
學期 1
出版(發表)日期 2022-01-19
作品名稱 Free riding and insurer carbon-linked investment
著者 Lin, Jyh-horng
著錄名稱、卷期、頁數 Energy Economics 107, 105838
摘要 The paper develops a two-insurer contingent claim framework to evaluate their equities. One insurer conducts carbon-linked investment, while the other conducts conventional (non-carbon-linked) investment. The freeriding issue becomes essential because of the carbon-emission externality. We show that the life insurance policyholders are free riders when either the return of carbon-linked or the conventional investment increases. But the cost burden of policyholder protection is the reduced insurer interest margin. The results also apply to the increased carbon-linked investment volatility and the different coronavirus COVID-19 impacts on the two-insurer interest margins. In the soundness test, we show that insurance stability at the cost of insurer profits is less significant when the carbon-linked investor’s barrier increases. Free riding would be intimately relevant to insurance and carbon-emission environments in the barrier option model.
關鍵字 Free riding;Carbon-linked investment;Carbon emission;Insurer interest margin;Policyholder
語言 en
ISSN 1873-6181
期刊性質 國外
收錄於 SSCI Scopus
通訊作者 Lin, Jyh-horng
國別 NLD
出版型式 ,電子版

機構典藏連結 ( )

SDGS 消除貧窮,永續城市與社區,氣候行動,夥伴關係