Enterprise risk management (ERM) has gradually become a celebrated risk management practice by corporations in the U.S. and worldwide. However, evidence on the value of ERM was mostly from U.S. insurers and other financial institutions. We provide some of the first evidence for the value of ERM...

Studying factors influencing the demand for commercial health insurance is essential in insurance economics. Family ties are seldom investigated, although they play an important role in human behavior, especially in eastern countries such as China. We construct an index to measure family ties...

Some consumption goods, such as housing, involve long-term commitment and their level of consumption can only be altered with substantial transaction costs. Even though the commitment effect on risk preferences, portfolio choice, and asset prices has been studied, little research has been...

Mortality models are fundamental to quantify mortality/longevity risks and provide the basis of pricing and reserving. In this paper, we consider a family of mortality jump models and propose a new generalized Lee-Carter model with asymmetric double exponential jumps. It is asymmetric in terms...