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Contrary to the objective of a major corporate pension reform in Japan to enhance retirement income security, and despite the increased relative tax benefits of externally-funded plans, the number of firms that do not sponsor externally-funded defined benefit plans or defined contribution plans...
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Purpose – The purpose of this paper is to discuss whether insurers could have a strong motivation for M&A in the future because they need to survive within the industry under oversaturated market conditions. Recently, Japanese non‐life insurance markets, mainly the automobile insurance...
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Purpose – The purpose of this paper is to discuss whether insurers could have a strong motivation for M&A in the future because they need to survive within the industry under oversaturated market conditions. Recently, Japanese non-life insurance markets, mainly the automobile insurance market,...
Persistent link: https://www.econbiz.de/10010610643
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When a firm exercises discretion to disclose or withhold information (strategic disclosure), risk-averse investors command higher expected returns when expected cash flows decrease, producing a negative correlation between these expectations. Moreover, stock returns exhibit stronger reversal...
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