Foreign affiliates of the largest insurance groups: Location-specific advantages

Journal of Risk and Insurance

Volumn 75, Issue 2, 2008, Pages 463-491

  Outreville, J François ^a  

^a United Nations Conference on Trade and Development   (Switzerland)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 43249126596     PISSN: 00224367     EISSN: 15396975     Source Type: Journal    
DOI: 10.1111/j.1539-6975.2008.00268.x     Document Type: Article

References (70)

1. Agarwal, J., and S. Ramaswami, 1992, Choice of Foreign Market Entry Mode: Impact of Ownership, Location and Internalization Factors, Journal of International Business Studies, 23 (1 1 27.
2. Ball, C. A., and A. Tschoegl, 1982, The Decision to Establish a Foreign Branch or Subsidiary: An Application of Binary Classification Procedures, Journal of Financial and Quantitative Analysis, 17 (3 411 424.
3. Barth, C. A., G. Caprio, and R. Levine, 2001, Banking Systems Around the Globe: Do Regulation and Ownership Affect Performance and Stability? in : F. Mishkin, ed., Prudential Regulation and Supervision: What Works and What Doesn't (National Bureau of Economic Research).
4. Bank for International Settlements (BIS), 2001, Report on Consolidation in the Financial Sector, Bank of International Settlements, Group of Ten January). Available at http://www.bis.org.
5. Bartlett, C. A., and S. Ghoshal, 1989, Managing Across Borders: The Transnational Solution (Boston, MA : Harvard Business School Press).
6. Beck, T., and I. Webb, 2003, Economic Demographic and Institutional Determinants of Life Insurance Consumption across Countries, World Bank Economic Review, 17 (1 51 88.
7. Brealey, R. A., and E. C. Kaplanis, 1996, The Determinants of Foreign Banking Location, Journal of International Money and Finance, 15 (4 577 596.
8. Browne, M. J., J. Chung, and E. W. Frees, 2000, International Property-Liability Insurance Consumption, Journal of Risk and Insurance, 67 (1 73 90.
9. Browne, M. J., and K. Kim, 1993, An International Analysis of Life Insurance Demand, Journal of Risk and Insurance, 60 (4 616 634.
10. Buch, C., 2000, Why Do Banks Go Abroad - Evidence from German Data, Financial Markets, Institutions and Instruments, 9 (1 33 67.
11. Capar, N., and M. Kotabe, 2003, The Relationship Between International Diversification and Performance in Services Firms, Journal of International Business Studies, 34 : 345 355.
12. Claessens, S., and T. Glaessner, 1998, Internationalization of Financial Services in Asia, World Bank research paper, Washington, DC : World Bank, http://www.worldbank.org/research/
13. Clarke, G., R. Cull, M. S. Peria, and S. M. Sanchez, 2001, Foreign Bank Entry: Experience, Implications for Developing Countries, and Agenda for Further Research, World Bank Working Paper No. 2698.
14. Cole, C. R., R. B. Lee, and K. A. McCullough, 2005, A Test of the Eclectic Paradigm: Evidence from the U.S. Reinsurance Market, Paper presented at the World Risk and Insurance Economic Congress, Salt Lake City, August.
15. Dunning, J. H., 1977, Trade Location of Economic Activity and the Multinational Enterprise: A Search for the Eclectic Paradigm, in : B. Ohlin, P. O. Hesselbom, and J. J. Wiskman eds, The International Allocation of Economic Activity (London : MacMillan).
16. Dunning, J. H., 1988, The Eclectic Paradigm of International Production: A Restatement and Some Possible Extensions, Journal of International Business Studies, 19 : 1 31.
17. Dunning, J. H., 1995, Reappraising the Eclectic Paradigm in an Age of Alliance Capitalism, Journal of International Business Studies, 26 : 461 491.
18. Edwards, F. R., and F. S. Mishkin, 1995, The Decline of Traditional Banking: Implications for Financial Stability and Regulatory Policy, Federal Reserve Bank of New York Economic Policy Review, July, pp. 27 45.
19. Focarelli, D., and A. F. Pozzolo, 2001, The Patterns of Cross-Border Bank Mergers and Shareholdings in OECD Countries, Journal of Banking and Finance, 25 : 2305 2337.
20. Focarelli, D., and A. F. Pozzolo, 2005, Where Do Banks Expand Abroad? An Empirical Analysis, Journal of Business, 78 : 2435 2464.
21. Forbes, M., and L. E. Lynn, 2004, How Does Public Management Affect Government Performance? Findings from International Research, The Bush School of Government and Public Service, Texas A&M University, Working paper No. 420 (October).
22. Galan, J. I., and J. Gonzales-Benito, 2001, Determinants Factors of Foreign Direct Investment: Some Empirical Evidence, European Business Review, 13 (5 269 278.
23. Ghemawat, P., 2001, Distance Still Matters: The Hard Reality of Global Expansion, Harvard Business Review, September, pp. 2 11.
24. Goldberg, L. G., and R. Grosse, 1994, Location Choice of Foreign Banks in the United States, Journal of Economics and Business, 46 (5 67 79.
25. Goldberg, L. G., and G. A. Hanweck, 1991, The Growth of the World's Largest Banking Organizations by Country, Journal of Banking and Finance, 15 : 207 223.
26. Goldberg, L. G., and D. Johnson, 1990, The Determinants of US Banking Activity Abroad, Journal of International Money and Finance, 9 (2 123 137.
27. Grosse, R., and L. Goldberg, 1991, Foreign Activity in the United States: An Analysis by Country of Origin, Journal of Banking and Finance, 15 (6 1092 1112.
28. Habib, M., and L. Zurawicki, 2002, Corruption and Foreign Direct Investment, Journal of International Business Studies, 33 (2 291 307.
29. Hussels, S., D. Ward, and R. Zurbruegg, 2005, Stimulating the Demand for Insurance, Risk Management and Insurance Review, 8 (2 257 278.
30. Hofstede, G., 1983, National Cultures in Four Dimensions: A Research-Based Theory of Cultural Differences Among Nations, International Studies of Management and Organizations, 13 (2 46 74.
31. Javalgi, R. G., D. A. Griffith, and D. S. White, 2003, An Empirical Examination of Factors Influencing the Internationalization of Services Firms, Journal of Services Marketing, 17 : 185 201.
32. Johansson, J., and J. E. Vahlne, 1977, The Internationalization Process of the Firm: A Model of Knowledge Development and Increasing Foreign Market Commitments, Journal of International Business Studies, 8 (1 23 32.
33. Johansson, J., and J. E. Vahlne, 1990, The Mechanism of Internalization, International Marketing Review, 7 (4 1 24.
34. Katrishen, F. A., and N. A. Scordis, 1998, Economies of Scale in Services: A Study of Multinational Insurers, Journal of International Business Studies, 29 (2 305 324.
35. Kaufmann, D, 2003, Rethinking Governance: Empirical Lessons Challenge Orthodoxy, World Bank research paper, Washington, DC : World Bank, http://www.worldbank.org/wbi/governance/
36. Kaufmann, D., and A. Kraay, 2002, Growth without Governance, Economia, 3 (1 169 229.
37. Kaufmann, D., A. Kraay, and P. Zoido-Lobaton, 2000, Governance Matters: From Measurement to Action, Finance and Development, 37 : no. 2.
38. Knack, S., and P. Keefer, 1997, Does Social Capital Have An Economic Payoff? A Cross-Country Investigation, Quarterly Journal of Economics, 112 (4 1251 1288.
39. Kogut, B., and H. Singh, 1998, The Effect of National Culture on the Choice of Entry Mode, Journal of International Business Studies, 22 (2 209 224.
40. Kwoka, J. E., 1977, Large Firms Dominance and Price-Cost Margins in Manufacturing Industries, Southern Economic Journal, 44 : 183 189.
41. La Porta, R., F. Lopez-de-Silanes, A. Sheifer, and R. Vishny, 1999, The Quality of Governments, Journal of Law, Economics and Organization, 15 (1 222 279.
42. La Porta, R., F. Lopez-de-Silanes, A. Sheifer, and R. Vishny, 2000, Investor Protection and Corporate Governance, Journal of Financial Economics, 58 (1 3 27.
43. McGuire, G., and M. Schuele, 2001, Restrictiveness of International Trade in Banking Services, in : C. Findlay and T. Warren eds., Impediments to Trade in Services: Measurement and Policy Implications (New York : Routledge).
44. Ma, Y. L., and N. Pope, 2003, Determinants of International Insurers' Participation in Foreign Non-Life Markets, Journal of Risk and Insurance, 70 (2 235 248.
45. Miller, S. R., and A. Parkhe, 1998, Patterns of Expansion of U.S. Banks' Foreign Operations, Journal of International Business Studies, 29 (2 359 390.
46. Moshirian, F., 1999, Sources of Growth in International Insurance Services, Journal of Multinational Financial Management, 9 : 177 194.
47. Outreville, J. F., 1990, The Economic Significance of Insurance Markets in Developing Countries, Journal of Risk and Insurance, 18 (3 487 498.
48. Outreville, J. F., 1996, Life Insurance Markets in Developing Countries, Journal of Risk and Insurance, 63 (2 263 278.
49. Outreville, J. F., 1998, Size and Concentration Patterns of the World's Largest Reinsurance Companies, Geneva Papers on Risk and Insurance, 23 (86 68 80.
50. Outreville, J. F., 2005, Financial Development, Human Capital and Political Instability, Finance India, 29 (2 481 492.
51. Overman, H. G., S. Redding, and A. J. Venables, 2001, The Economic Geography of Trade Production and Income: A Survey of Empirics, Centre for Economic Performance, Discussion Paper no. 2978. Available at http://cep.lse.ac.uk/
52. Puleo, Victor Jr., and A. Butler, 1997, The Growth of the World's Fifty Largest Insurance Organizations by Country, 1985-1993, Journal of Insurance Issues, 20 (1 37 50.
53. Ramaswamy, K., K. G. Kroeck, and W. Renforth, 1996, Measuring the Degree of Internationalization of a Firm: A Comment, Journal of International Business Studies, 27 (1 167 177.
54. Rhoades, S. A., 1983, Concentration of the World Banking and the Role of the US Banks among the 100 Largest, Journal of Banking and Finance, 7 : 427 437.
55. Rodrick, D., A. Subramanian, and F. Trebbi, 2002, Institutions Rules: The Primacy of Institutions over Geography and Integration in Economic Development, CID Working Paper No. 97, Cambridge, MA : Center for International Development at Harvard University. Available at http://www.cid.Harvard.edu/cidwp/097.htm
56. Rossi, S., and P. F. Volpin, 2004, Cross-Country Determinants of Mergers and Acquisitions, Journal of Financial Economics, 74 : 277 304.
57. Rugman, A. M., and A. Verbeke, 2004, A Perspective on Regional and Global Strategies of Multinational Enterprises, Journal of International Business Studies, 35 (1 3 18.
58. Schwartz, S. H., 1999, Cultural Value Differences: Some Implications for Work, Applied Psychology: An International Review, 48 : 23 48.
59. Skipper, H. D., 1997, Foreign Insurers in Emerging Markets: Issues and Concerns, Washington, DC : International Insurance Foundation, Occasional Paper No.1.
60. Smith, P. B., M. F. Peterson, and S. H. Schwartz, 2002, Cultural Values, Sources of Guidance and Their Relevance to Managerial Behavior, Journal of Cross-Cultural Psychology, 33 : 188 208.
61. Sullivan, D., 1996, Measuring the Degree of Internationalization of a Firm: A Reply, Journal of International Business Studies, 27 (1 179 192.
62. Swiss, Re, 2000, Emerging Markets: The Insurance Industry in the Face of Globalization, Zurich : Sigma, No.4.
63. Swiss, Re, 2001, World Financial Centres: New Horizon in Insurance and Banking, Zurich : Sigma, No. 7.
64. Swiss, Re, 2006, Getting Together: Globals Take the Lead in Life Insurance M&A, Zurich : Sigma, No. 1.
65. United Nations Centre on Transnational Corporations (UNCTC), 1989, Foreign Direct Investment and Transnational Corporations in Services, New York : United Nations, No.E.89.II.A.1.
66. United Nations Conference on Trade and Development (UNCTAD), 2004, World Investment Report: The Shift Towards Services, Geneva : United Nations, No.E.04.II.D.33.
67. United Nations Conference on Trade and Development (UNCTAD), 2005, World Investment Report: Transnational Corporations and the Internationalization of R&D, Geneva : United Nations, No.E.05.II.D.10.
68. Wezel, T., 2003, Determinants of German Foreign Direct Investment in Latin American and Asian Emerging Markets in the 1990s, Deutsche Bundesbank, Studies of the Economic Research Centre, Discussion paper no. 11/03.
69. Wezel, T., 2004, Foreign Bank Entry into Emerging Economies: An Empirical Assessment of the Determinants and Risks Predicated on German FDI Data, Deutsche Bundesbank, Studies of the Economic Research Centre, Discussion Paper No. 01/04.
70. Yamori, N., 1998, A Note on the Location Choice of Multinational Banks: The Case of Japanese Financial Institutions, Journal of Banking and Finance, 22 : 109 120.