This study uses game theory to consider the impact of loss control (LC) and monitoring costs on insurers' monitoring activities and investigate how the level of the insurance premium changes monitoring activities. The main results are as follows. First, a firm always undertakes LC when the LC...

Firm managers of defined-benefit (DB) pension plan sponsors reveal their primary motives — risk-shifting or risk-management — through their assumed expected rates of return (ERRs) on the plan assets. Managers with risk-shifting motives choose high ERRs to exploit flexible internal financing...

This article studies the effects of direct and indirect loss experience of extreme catastropheson expectations concerning the likelihood of future events by investigating the earthquakeinsurance take-up of Japanese households after the two costliest disasters in history. Directloss experiences...

The purpose of this study is to investigate regional differences in the business characteristics of Japanese agricultural cooperatives (JAs), which have been widely criticized for depending on non-agricultural activities, contradictory to cooperative principles. We construct a panel data set...