On the demand for corporate property insurance

Journal of Risk and Insurance

Volumn 67, Issue 1, 2000, Pages 91-107

  Hoyt, Robert E ^b   Khang, Ho ^a  

^a Daishin Life Insurance Co Ltd   (South Korea)

^b NONE

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0039381669     PISSN: 00224367     EISSN: None     Source Type: Journal    
DOI: 10.2307/253678     Document Type: Article

References (34)

1. Agrawal, A., and G.N. Mandelker. "Managerial Incentives and Corporate Investment and Financing Decisions." Journal of Finance, vol. 42, 1987, pp. 823-837.
2. Altman E.I. "Financial Ratios." Discriminant Analysis and the Prediction of Corporate Bankruptcy." Journal of Finance, vol. 23, 1968, pp. 589-609.
3. Belsley, D.M., E. Kuh, and R.E. Welsch. Regression Diagnostics. New York, NY: John Wiley & Sons, 1980.
4. Black, F., and M. Scholes. "The Pricing of Options and Corporate Liabilities." Journal of Political Economy, vol. 81, 1973, pp. 637-654.
5. Business Insurance, Directory of Buyers of Insurance, Benefit Plans and Risk Management Services, Eighth Edition. Chicago, IL: Business Insurance, 1990.
6. Chen, C., and R. PonArul. "On the Tax Incentive for Corporate Insurance Purchase." Journal of Risk and Insurance, vol. 56, 1989, pp. 307-311.
7. Core, J.E. "On the Corporate Demand for Directors' and Officers' Insurance." Journal of Risk and Insurance, vol. 64, 1997, pp. 63-87.
8. Downs D., and D. Sommer. "Monitoring, Ownership and Risk-Taking: The Impact of Guaranty Funds." Journal of Risk and Insurance, vol. 66, 1999, pp. 477-497.
9. Garven, J.R., and R.D. MacMinn. "The Underinvestment Problem, Bond Covenants, and Insurance." Journal of Risk and Insurance, vol. 60, 1993, pp. 635-646.
10. Gaver, J.J., and K.M. Gaver. "Additional Evidence on the Association Between the Investment Opportunity Set and Corporate Financing, Dividend, and Compensation Policies." Journal of Accounting and Economics, vol. 16, 1993, pp. 125-160.
11. Grillet, L. "Corporate Insurance and Corporate Stakeholders: Transactions Costs Theory." Journal of Insurance Regulation, vol. 11, 1992, pp. 233-251.
12. Insurance Information Institute, Insurance Facts: Property/Casualty Fact Book. New York, NY: Insurance Information Institute, 1990.
13. Jensen, M.C., and W. Meckling. "Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure." Journal of Financial Economics, vol. 3, 1976, pp. 305-360.
14. Lang, L., E. Ofek, and R. Stulz. "Leverage, Investment, and Firm Growth." Journal of Financial Economics, vol. 40, 1996, pp. 3-29.
15. MacMinn, R. "Forward Markets, Stock Markets, and the Theory of the Firm." Journal of Finance, vol. 42, 1987a, pp. 1167-1185.
16. _. "Insurance and Corporate Risk Management." Journal of Risk and Insurance, vol. 54, 1987b, pp. 658-677.
17. Main, B.G.M. "The Firm's Insurance Decision. Some Questions Raised by the Capital Asset Pricing Model." Managerial and Decision Economics, vol. 3, 1982, pp. 7-15.
18. _. "Corporate Insurance Purchases and Taxes." Journal of Risk and Insurance, vol. 50, 1983, pp. 197-223.
19. Mayers, D., and C.W. Smith. "On the Corporate Demand for Insurance." Journal of Business, vol. 55, 1982, pp. 281-296.
20. _. "Corporate Insurance and the Underinvestment Problem." Journal of Risk and Insurance, vol. 54, 1987, pp. 45-54.
21. _. "On the Corporate Demand for Insurance: Evidence from the Reinsurance Market." Journal of Business, vol. 63, 1990, pp. 19-40.
22. Morck R., A. Shleifer, and R.W. Vishny. "Management Ownership and Market Valuation: Empirical Evidence." Journal of Financial Economics, vol. 20, 1988, pp. 293-315.
23. Myers, S.C. "Determinants of Corporate Borrowing." Journal of Financial Economics, vol. 5, 1977, pp. 147-175.
24. Nance, D.R., C.W. Smith, and C.W. Smithson. "On the Determinants of Corporate Hedging." Journal of Finance, vol. 48, 1993, pp. 267-284.
25. Neter, J., W. Wasserman, and M.H. Kutner. Applied Linear Statistical Models. Third Edition. Homewood, IL: Irwin, 1990.
26. Ohlson, J.A. "Financial Ratios and the Probabilistic Prediction of Bankruptcy." Journal of Accounting Research, vol. 18, 1980, pp. 109-31.
27. Risk and Insurance Management Society, 1990 Cost-of-Risk Survey. New York, NY: RIMS.
28. Shapiro, A., and S. Titman. "An Integrated Approach to Corporate Risk Management." Midland Corporate Finance Journal, vol. 3, 1985, pp. 41-56.
29. Skogh, G. "The Transactions Cost Theory of Insurance: Contracting Impediments and Costs." Journal of Risk and Insurance, vol. 56, 1989, pp. 726-732.
30. Smith, C.W., and R. Stulz. "The Determinants of Firms' Hedging Policies." Journal of Financial and Quantitative Analysis, vol. 20, 1985, pp. 391-405.
31. Smith, C.W., and R.L. Watts. "The Investment Opportunity Set and Corporate Financing, Dividend, and Compensation Policies." Journal of Financial Economics, vol. 32, 1992, pp. 263-292.
32. Warner, J.B. "Bankruptcy Costs: Some Evidence." Journal of Finance, vol. 32, 1977, pp. 337-348.
33. Williams, C.A., M.L. Smith, and P.C. Young. Risk Management and Insurance. Seventh Edition. New York, NY: McGraw-Hill, Inc., 1995.
34. Yamori, N. "An Empirical Investigation of the Japanese Corporate Demand for Insurance." Journal of Risk and Insurance, vol. 66, 1999, pp. 239-252.