This paper examines equity response to the occurrence of large non operating losses. As with previous studies, significant negative abnormal returns are detected around the occurrence of large losses. The paper extends the literature by examining issues not previously investigated. For a subset...

Variable annuities have become increasingly important in retirement plans. This paper provides an examination of the investment performance of variable annuities for the period year-end 1973 to year-end 1988. Returns, risk, and selectivity measures are analyzed for the sample of annuities, for...