Xie, Xiaoying; Lu, Weili; Reising, Joseph; Stohs, Mark Hoven - In: The Geneva Papers on Risk and Insurance - Issues and … 36 (2011) 2, pp. 197-225
This paper examines the role of corporate governance in the demutualisation wave in the U.S. life insurance industry during the 1990s and 2000s. The efficiency hypothesis suggests a firm should experience improved performance after demutualisation and managers should only gain from superior...