A numbers of studies focusing on the determinant of the insurance market efficiency haveincreased in the last decade …. In fact, many factors, like the CEO's power, can influence the efficiency in the insurance firm. The purpose of this … after the consideration of the CEO power score in the cost efficiency, the relation between insurance efficiency and the …

Understanding the nature of credit risk has important implications for financial stability. Since authorities notably … difficulty lies in finding reliable measures of aggregate credit risk in the economy, as opposed to firmlevel credit risk. In … the type of risk priced in corporate bonds (i.e., credit or liquidity risk). However, although the two models provide …

In financial economics, numerous theoretical models explain the relationship between investment risk and return in the … systematic corporate risk in different industries, the hypotheses for a positive linear correlation between stock returns and … systematic risk and the relation of these coefficients to the CAPM model predictions are tested. Thus, after data sampling to …

extensive number of robustness checks. Overall, downside cash flow risk is priced most consistently across different samples … ability. The downside cash flow risk premium is mainly attributable to small stocks. The risk premium for large stocks appears … much more driven by a compensation for symmetric, cash flow related risk. Finally, we multiply our premia estimates by …

structures are systematically changed. A constructed rolling window of annual returns reveals that risk and return significantly … increase with the length of maturity. Performance measures, such as return on risk-adjusted capital and the Sharpe ratio, show … wird gezeigt, dass Risiko und Ertrag mit zunehmender Maximallaufzeit steigen. Dies trifft auch signifikant auf die …

This paper investigates the impact of individual bank fundamental variables on stock market returns using data from a … non-interest income in terms of fees and commissions. In panel regressions, we relate bank stock returns to fundamental … spatial correlation. Our results indicate that several bank-specific variables exhibit a robust explanatory power across …

correlation in their assets (health, wealth, wisdom, i.e. skills), causing them to demand a great deal of insurance coverage …. Insurers on the other hand eschew positively correlated risks. It can be shown that insurance contributes to a reduction of … insurance. Analyzing deviations from trend in aggregate insurance payments, one finds the following for the United States and …

risk. Using the U.S. life insurance industry as a laboratory, we present a model in which variable annuity (VA) guarantees …