메뉴 건너뛰기




Volumn 31, Issue 2-3, 2007, Pages 173-188

Internal versus external capital markets in the insurance industry: The role of reinsurance

Author keywords

Insurance; Internal capital markets; Reinsurance

Indexed keywords


EID: 34547728741     PISSN: 09208550     EISSN: None     Source Type: Journal    
DOI: 10.1007/s10693-007-0007-2     Document Type: Article
Times cited : (73)

References (28)
  • 1
  • 2
    • 34547757032 scopus 로고    scopus 로고
    • A.M. Best. A.M. Best Oldwick, NJ. A.M. Best (2005) Rating members of insurance groups. A.M. Best, Oldwick, NJ. Available from
    • A.M. Best 2005 Rating members of insurance groups A.M. Best Oldwick, NJ A.M. Best (2005) Rating members of insurance groups. A.M. Best, Oldwick, NJ. Available from http://www.ambest.com/ratings/membergroups.pdf (accessed 9/03/2006)
    • (2005) Rating Members of Insurance Groups
  • 3
    • 0002419827 scopus 로고
    • Classifying financial distress in the life insurance industry
    • BarNiv R, Hershbarger RA (1990) Classifying financial distress in the life insurance industry. J Risk Insur 57:110-136
    • (1990) J Risk Insur , vol.57 , pp. 110-136
    • Barniv, R.1    Hershbarger, R.A.2
  • 5
    • 0002582230 scopus 로고
    • Life insurer financial distress: Classification models and empirical evidence
    • Carson JM, Hoyt RE (1995) Life insurer financial distress: classification models and empirical evidence. J Risk Insur 62:764-775
    • (1995) J Risk Insur , vol.62 , pp. 764-775
    • Carson, J.M.1    Hoyt, R.E.2
  • 6
    • 33644697282 scopus 로고    scopus 로고
    • A reexamination of the corporate demand for reinsurance
    • Cole CR, McCullough KA (2006) A reexamination of the corporate demand for reinsurance. J Risk Insur 73:169-192
    • (2006) J Risk Insur , vol.73 , pp. 169-192
    • Cole, C.R.1    McCullough, K.A.2
  • 7
    • 0039634058 scopus 로고
    • Insolvency experience, risk-based capital, and prompt corrective action in property-liability insurance
    • Cummins JD, Harrington SE, Klein R (1995) Insolvency experience, risk-based capital, and prompt corrective action in property-liability insurance. J Bank Financ 19:511-528
    • (1995) J Bank Financ , vol.19 , pp. 511-528
    • Cummins, J.D.1    Harrington, S.E.2    Klein, R.3
  • 8
    • 0346910609 scopus 로고
    • Property-liability insurance pricing models: An empirical evaluation
    • D'Arcy SP, Garven JR (1990) Property-liability insurance pricing models: an empirical evaluation. J Risk Insur 57:391-430
    • (1990) J Risk Insur , vol.57 , pp. 391-430
    • D'Arcy, S.P.1    Garven, J.R.2
  • 10
    • 0029692935 scopus 로고    scopus 로고
    • Reinsurance, taxes, and efficiency: A contingent claims model of insurance market equilibrium
    • Garven JR, Loubergè H (1996) Reinsurance, taxes, and efficiency: a contingent claims model of insurance market equilibrium. J Finan Intermediation 4:74-93
    • (1996) J Finan Intermediation , vol.4 , pp. 74-93
    • Garven, J.R.1    Loubergè, H.2
  • 11
    • 33644671461 scopus 로고    scopus 로고
    • Demand for reinsurance: Theory and empirical tests
    • 3
    • Garven JR, Lamm-Tennant J (2003) Demand for reinsurance: theory and empirical tests. Assurances 7(3):217-238, July
    • (2003) Assurances , vol.7 , pp. 217-238
    • Garven, J.R.1    Lamm-Tennant, J.2
  • 12
    • 84937074010 scopus 로고
    • Internal versus external capital markets
    • 4
    • Gertner RH, Scharfstein DS, Stein JC (1994) Internal versus external capital markets. Q J Econ 109(4):1211-1230
    • (1994) Q J Econ , vol.109 , pp. 1211-1230
    • Gertner, R.H.1    Scharfstein, D.S.2    Stein, J.C.3
  • 13
    • 0000085850 scopus 로고
    • Information imperfections in the capital market and macroeconomic fluctuations
    • Greenwald B, Stiglitz JE, Weiss A (1984) Information imperfections in the capital market and macroeconomic fluctuations. Am Econ Rev 74:194-199
    • (1984) Am Econ Rev , vol.74 , pp. 194-199
    • Greenwald, B.1    Stiglitz, J.E.2    Weiss, A.3
  • 14
    • 34250649470 scopus 로고    scopus 로고
    • Insurer demand for catastrophe reinsurance
    • University of Chicago Press Chicago
    • Gron A (1999) Insurer demand for catastrophe reinsurance. In: Froot KA (ed) The financing of catastrophe risk. University of Chicago Press, Chicago
    • (1999) The Financing of Catastrophe Risk
    • Gron, A.1    Froot, K.A.2
  • 16
    • 21144476923 scopus 로고
    • Stock versus mutual ownership structures: The risk implications
    • 1
    • Lamm-Tennant J, Starks LT (1993) Stock versus mutual ownership structures: the risk implications. J Bus 66(1):29-46
    • (1993) J Bus , vol.66 , pp. 29-46
    • Lamm-Tennant, J.1    Starks, L.T.2
  • 17
    • 0001095412 scopus 로고
    • On the corporate demand for insurance
    • 2
    • Mayers D, Smith CW (1982) On the corporate demand for insurance. J Bus 55(2):281-296
    • (1982) J Bus , vol.55 , pp. 281-296
    • Mayers, D.1    Smith, C.W.2
  • 18
    • 0002083575 scopus 로고
    • Corporate insurance and the underinvestment problem
    • Mayers D, Smith CW (1987) Corporate insurance and the underinvestment problem. J Risk Insur 54:45-54
    • (1987) J Risk Insur , vol.54 , pp. 45-54
    • Mayers, D.1    Smith, C.W.2
  • 19
    • 0002009227 scopus 로고
    • On the corporate demand for insurance: Evidence from the reinsurance market
    • Mayers D, Smith CW (1990) On the corporate demand for insurance: evidence from the reinsurance market. J Bus 63:19-40
    • (1990) J Bus , vol.63 , pp. 19-40
    • Mayers, D.1    Smith, C.W.2
  • 20
    • 49449125071 scopus 로고
    • Determinants of corporate borrowing
    • 2
    • Myers SC (1977) Determinants of corporate borrowing. J Financ Econ 5(2):147-175
    • (1977) J Financ Econ , vol.5 , pp. 147-175
    • Myers, S.C.1
  • 21
    • 84944830772 scopus 로고
    • The capital structure puzzle
    • 3
    • Myers SC (1984) The capital structure puzzle. J Finance 39(3):575-592
    • (1984) J Finance , vol.39 , pp. 575-592
    • Myers, S.C.1
  • 22
    • 48549110620 scopus 로고
    • Corporate financing and investment decisions when firms have information that investors do not have
    • Myers SC, Majluf NS (1984) Corporate financing and investment decisions when firms have information that investors do not have. J Financ Econ 13:187-221
    • (1984) J Financ Econ , vol.13 , pp. 187-221
    • Myers, S.C.1    Majluf, N.S.2
  • 23
    • 0000280219 scopus 로고
    • Taxation, regulation, and the organizational structure of property-casualty insurers
    • 3
    • Petroni K, Shackelford D (1995) Taxation, regulation, and the organizational structure of property-casualty insurers. J Account Econ 74(3):229-253
    • (1995) J Account Econ , vol.74 , pp. 229-253
    • Petroni, K.1    Shackelford, D.2
  • 24
    • 0012207545 scopus 로고    scopus 로고
    • Property-liability insurer financial strength ratings: Differences across agencies
    • 4
    • Pottier SW, Sommer DW (1999) Property-liability insurer financial strength ratings: differences across agencies. J Risk Insur 66(4):621-642
    • (1999) J Risk Insur , vol.66 , pp. 621-642
    • Pottier, S.W.1    Sommer, D.W.2
  • 25
    • 0001269383 scopus 로고    scopus 로고
    • The impact of firm risk on property-liability insurance prices
    • 3
    • Sommer DW (1996) The impact of firm risk on property-liability insurance prices. J Risk Insur 63(3):501-514
    • (1996) J Risk Insur , vol.63 , pp. 501-514
    • Sommer, D.W.1
  • 26
    • 0001574842 scopus 로고
    • Bankruptcy costs: Some evidence
    • Warner J (1977) Bankruptcy costs: some evidence. J Finance 32:337-348
    • (1977) J Finance , vol.32 , pp. 337-348
    • Warner, J.1
  • 27
    • 25044441890 scopus 로고    scopus 로고
    • American Institute for Chartered Property Casualty Underwriters/Insurance Institute of America Malvern, PA
    • Webb BL, Harrison CM, Markham JJ (2002) Insurance operation and regulation. American Institute for Chartered Property Casualty Underwriters/Insurance Institute of America, Malvern, PA
    • (2002) Insurance Operation and Regulation
    • Webb, B.L.1    Harrison, C.M.2    Markham, J.J.3


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.