메뉴 건너뛰기




Volumn 47, Issue 2, 2009, Pages 359-374

Impact of insurers' product variety on performance across underwriting cycles

Author keywords

Insurance; Markets; Performance management; Underwriting

Indexed keywords


EID: 68549118747     PISSN: 00251747     EISSN: None     Source Type: Journal    
DOI: 10.1108/00251740910938966     Document Type: Article
Times cited : (5)

References (52)
  • 1
    • 0000423065 scopus 로고
    • Even dwarfs started small: Liabilities of age and size and their strategic implications
    • in Staw, B.M. and Cummings, L.L. (Eds)
    • Aldrich, H. and Auster, E.R. (1986), Even dwarfs started small: liabilities of age and size and their strategic implications, in Staw, B.M. and Cummings, L.L. (Eds), Research in Organizational Behavior, Vol. 8 No. 2, pp. 165-98.
    • (1986) Research in Organizational Behavior , vol.8 , Issue.2 , pp. 165-98
    • Aldrich, H.1    Auster, E.R.2
  • 2
    • 84989051530 scopus 로고
    • Diversification strategies, business cycles and economic performance
    • Amit, R. and Livnat, J. (1988), Diversification strategies, business cycles and economic performance, Strategic Management Journal, Vol. 9 No. 2, pp. 99-110.
    • (1988) Strategic Management Journal , vol.9 , Issue.2 , pp. 99-110
    • Amit, R.1    Livnat, J.2
  • 5
    • 21344476299 scopus 로고
    • Strategy through the options lens: An integrated view of resource investments and the incremental choice process
    • Bowman, E.H. and Hurry, D. (1993), Strategy through the options lens: an integrated view of resource investments and the incremental choice process, Academy of Management Review, Vol. 18 No. 4, pp. 760-82.
    • (1993) Academy of Management Review , vol.18 , Issue.4 , pp. 760-82
    • Bowman, E.H.1    Hurry, D.2
  • 6
    • 0001603924 scopus 로고
    • Evaluating natural resource investments
    • Brennan, M. and Schwartz, E. (1985), Evaluating natural resource investments, Journal of Business, Vol. 58 No. 2, pp. 135-97.
    • (1985) Journal of Business , vol.58 , Issue.2 , pp. 135-97
    • Brennan, M.1    Schwartz, E.2
  • 9
    • 0039696749 scopus 로고    scopus 로고
    • Determinants of cash holding by property-liability insurers
    • Colquitt, L.L., Sommer, D.W. and Godwin, N.H. (1999), Determinants of cash holding by property-liability insurers, Journal of Risk and Insurance, Vol. 66 No. 3, pp. 401-15.
    • (1999) Journal of Risk and Insurance , vol.66 , Issue.3 , pp. 401-15
    • Colquitt, L.L.1    Sommer, D.W.2    Godwin, N.H.3
  • 10
    • 0036289841 scopus 로고    scopus 로고
    • Optimal capital utilization by financial firms: Evidence from the property-liability insurance industry
    • Cummins, J.D. and Nini, G. (2002), Optimal capital utilization by financial firms: evidence from the property-liability insurance industry, Journal of Financial Services Research, Vol. 21 Nos 1/2, pp. 15-23.
    • (2002) Journal of Financial Services Research , vol.21 , Issue.1-2 , pp. 15-23
    • Cummins, J.D.1    Nini, G.2
  • 11
    • 68549119183 scopus 로고
    • Cycles and crises in property/casualty insurance: Causes and implication for public policy
    • Cummins, J.D., Harrington, S.E. and Klein, R.W. (1991), Cycles and crises in property/casualty insurance: causes and implication for public policy, Journal of Insurance Regulation, Vol. 10 No. 1, pp. 50-93.
    • (1991) Journal of Insurance Regulation , vol.10 , Issue.1 , pp. 50-93
    • Cummins, J.D.1    Harrington, S.E.2    Klein, R.W.3
  • 12
    • 0000062229 scopus 로고
    • An international analysis of underwriting cycles in property-liability insurance
    • Cummins, J.D. and Outreville, J.F. (1987), An international analysis of underwriting cycles in property-liability insurance, The Journal of Risk and Insurance, Vol. 54 No. 2, pp. 246-62.
    • (1987) The Journal of Risk and Insurance , vol.54 , Issue.2 , pp. 246-62
    • Cummins, J.D.1    Outreville, J.F.2
  • 13
    • 33947251501 scopus 로고    scopus 로고
    • The effect of host country factors on the internationalization of the US reinsurance industry
    • Elango, B. (2003), The effect of host country factors on the internationalization of the US reinsurance industry, Journal of Insurance Issues, Vol. 26 No. 22, pp. 93-113.
    • (2003) Journal of Insurance Issues , vol.26 , Issue.22 , pp. 93-113
    • Elango, B.1
  • 14
    • 84992933882 scopus 로고    scopus 로고
    • An empirical analysis of the internationalization performance relationship across emerging market firms
    • Elango, B. (2006), An empirical analysis of the internationalization performance relationship across emerging market firms, Multinational Business Review, Vol. 14 No. 1.
    • (2006) Multinational Business Review , vol.14 , Issue.1
    • Elango, B.1
  • 15
    • 57449103222 scopus 로고    scopus 로고
    • Minimizing effects of liability of foreignness: Response strategies of foreign firms in the United States
    • Elango, B. (2008), Minimizing effects of liability of foreignness: response strategies of foreign firms in the United States, Journal of World Business, Vol. 44 No. 1, pp. 51-62.
    • (2008) Journal of World Business , vol.44 , Issue.1 , pp. 51-62
    • Elango, B.1
  • 16
    • 0026289665 scopus 로고
    • A generalized index of diversification: Trends in US manufacturing
    • Gollop, F.M. and Monahan, J.L. (1991), A generalized index of diversification: trends in US manufacturing, Review of Economics and Statistics, Vol. 73 No. 2, pp. 318-30.
    • (1991) Review of Economics and Statistics , vol.73 , Issue.2 , pp. 318-30
    • Gollop, F.M.1    Monahan, J.L.2
  • 17
    • 0344707554 scopus 로고
    • Capacity constraints and cycle in property/casualty insurance markets
    • Gron, A. (1994), Capacity constraints and cycle in property/casualty insurance markets, The RAND Journal of Economics, Vol. 25 No. 1, pp. 110-27.
    • (1994) The RAND Journal of Economics , vol.25 , Issue.1 , pp. 110-27
    • Gron, A.1
  • 18
    • 84936628616 scopus 로고
    • Structural inertia an organizational change
    • Hannan, M.T. and Freeman, J.H. (1984), Structural inertia an organizational change, American Sociological Review, Vol. 49 No. 2, pp. 149-64.
    • (1984) American Sociological Review , vol.49 , Issue.2 , pp. 149-64
    • Hannan, M.T.1    Freeman, J.H.2
  • 19
    • 21844488854 scopus 로고
    • Price cutting in liability insurance markets
    • Harrington, S.E. and Danzon, P.M. (1994), Price cutting in liability insurance markets, Journal of Business, Vol. 67 No. 4, pp. 511-38.
    • (1994) Journal of Business , vol.67 , Issue.4 , pp. 511-38
    • Harrington, S.E.1    Danzon, P.M.2
  • 21
    • 68549111380 scopus 로고    scopus 로고
    • (The) III Insurance Fact Book (2007), Insurance Information Institute, New York, NY
    • (The) III Insurance Fact Book (2007), Insurance Information Institute, New York, NY.
  • 22
    • 0032386542 scopus 로고    scopus 로고
    • Economies of scale in services: A study of multinational insurers
    • Katrishen, F.A. and Scordis, N.A. (1998), Economies of scale in services: a study of multinational insurers, Journal of International Business Studies, Vol. 29 No. 2, pp. 305-24.
    • (1998) Journal of International Business Studies , vol.29 , Issue.2 , pp. 305-24
    • Katrishen, F.A.1    Scordis, N.A.2
  • 23
    • 0000160102 scopus 로고
    • Operating flexibility, global manufacturing and the option value of a multinational network
    • Kogut, B. and Kulatilaka, N. (1994), Operating flexibility, global manufacturing and the option value of a multinational network, Management Science, Vol. 40 No. 1, pp. 123-38.
    • (1994) Management Science , vol.40 , Issue.1 , pp. 123-38
    • Kogut, B.1    Kulatilaka, N.2
  • 24
    • 0346896609 scopus 로고    scopus 로고
    • Organizational structure and performance: Evidence from the nonlife insurance industry in Japan
    • Lai, G.C. and Limpaphayom, P. (2003), Organizational structure and performance: evidence from the nonlife insurance industry in Japan, Journal of Risk and Insurance, Vol. 70 No. 4, pp. 735-57.
    • (2003) Journal of Risk and Insurance , vol.70 , Issue.4 , pp. 735-57
    • Lai, G.C.1    Limpaphayom, P.2
  • 25
    • 0010044893 scopus 로고    scopus 로고
    • International insurance cycles: Rationale expectations/institutional interventions
    • Lamm-Tenant, J. and Weiss, M.A. (1997), International insurance cycles: rationale expectations/institutional interventions, Journal of Risk and Insurance, Vol. 64 No. 3, pp. 415-39.
    • (1997) Journal of Risk and Insurance , vol.64 , Issue.3 , pp. 415-39
    • Lamm-Tenant, J.1    Weiss, M.A.2
  • 26
    • 68549085573 scopus 로고    scopus 로고
    • Stationarity and stability of underwriting profits in property-liability insurance: Part I
    • Leng, C. (2006a), Stationarity and stability of underwriting profits in property-liability insurance: part I, Journal of Risk Finance, Vol. 7 No. 1, pp. 38-48.
    • (2006) Journal of Risk Finance , vol.7 , Issue.1 , pp. 38-48
    • Leng, C.1
  • 27
    • 85015449177 scopus 로고    scopus 로고
    • Stationarity and stability of underwriting profits in property-liability insurance: Part II
    • Leng, C. (2006b), Stationarity and stability of underwriting profits in property-liability insurance: part II, Journal of Risk Finance, Vol. 7 No. 1, pp. 49-63.
    • (2006) Journal of Risk Finance , vol.7 , Issue.1 , pp. 49-63
    • Leng, C.1
  • 28
    • 85015648011 scopus 로고    scopus 로고
    • Analysis of multinational writing cycles in property-liability insurance
    • Leng, C. and Meier, U. (2006), Analysis of multinational writing cycles in property-liability insurance, Journal of Risk Finance, Vol. 7 No. 2, pp. 146-59.
    • (2006) Journal of Risk Finance , vol.7 , Issue.2 , pp. 146-59
    • Leng, C.1    Meier, U.2
  • 29
    • 68549106399 scopus 로고    scopus 로고
    • Did regulation change competitiveness in property-liability insurance? Evidence from underwriting profit and investment income
    • Leng, C., Powers, M.R. and Venezian, E.C. (2002), Did regulation change competitiveness in property-liability insurance? Evidence from underwriting profit and investment income, Journal of Insurance Regulation, Vol. 21 No. 2, pp. 57-78.
    • (2002) Journal of Insurance Regulation , vol.21 , Issue.2 , pp. 57-78
    • Leng, C.1    Powers, M.R.2    Venezian, E.C.3
  • 30
    • 84993848595 scopus 로고
    • A pure financial rationale for the conglomerate merger
    • Lewellen, W.G. (1971), A pure financial rationale for the conglomerate merger, Journal of Finance, Vol. 26 No. 2, pp. 521-37.
    • (1971) Journal of Finance , vol.26 , Issue.2 , pp. 521-37
    • Lewellen, W.G.1
  • 31
    • 49249083416 scopus 로고    scopus 로고
    • Effects of corporate diversification: Evidence from the property-liability insurance industry
    • University of Mississippi, University, MS
    • Liebenberg, A.P. and Sommer, D. (2007), Effects of corporate diversification: evidence from the property-liability insurance industry, working paper, University of Mississippi, University, MS.
    • (2007) Working paper
    • Liebenberg, A.P.1    Sommer, D.2
  • 32
    • 0032161417 scopus 로고    scopus 로고
    • Strategy as a portfolio of real option
    • Luehrman, T.A. (1998), Strategy as a portfolio of real option, Harvard Business Review, Vol. 76 No. 5, pp. 89-99.
    • (1998) Harvard Business Review , vol.76 , Issue.5 , pp. 89-99
    • Luehrman, T.A.1
  • 33
    • 0000704002 scopus 로고
    • Investments and the valuation of firms when there is an option to shut down
    • McDonald, R. and Siegel, D. (1985), Investments and the valuation of firms when there is an option to shut down, International Economic Review, Vol. 26 No. 2, pp. 331-9.
    • (1985) International Economic Review , vol.26 , Issue.2 , pp. 331-9
    • McDonald, R.1    Siegel, D.2
  • 34
    • 0031484914 scopus 로고    scopus 로고
    • A real options logic for initiating technology positioning investments
    • McGrath, R.G. (1997), A real options logic for initiating technology positioning investments, Academy of Management Review, Vol. 22 No. 4, pp. 974-96.
    • (1997) Academy of Management Review , vol.22 , Issue.4 , pp. 974-96
    • McGrath, R.G.1
  • 35
    • 0002009227 scopus 로고
    • On the corporate demand for insurance: Evidence from the reinsurance market
    • Mayers, D. and Smith, C.W. Jr (1990), On the corporate demand for insurance: evidence from the reinsurance market, Journal of Business, Vol. 63 No. 1, pp. 19-40.
    • (1990) Journal of Business , vol.63 , Issue.1 , pp. 19-40
    • Mayers, D.1    Smith Jr., C.W.2
  • 36
    • 85015450425 scopus 로고    scopus 로고
    • Multinational underwriting cycles in property-liability insurance: Part I
    • Meier, U. (2006a), Multinational underwriting cycles in property-liability insurance: Part I, Journal of Risk Finance, Vol. 7 No. 1, pp. 64-82.
    • (2006) Journal of Risk Finance , vol.7 , Issue.1 , pp. 64-82
    • Meier, U.1
  • 37
    • 85015369827 scopus 로고    scopus 로고
    • Multinational underwriting cycles in property-liability insurance: Part II - model extensions and further empirical results
    • Meier, U. (2006b), Multinational underwriting cycles in property-liability insurance: Part II - model extensions and further empirical results, Journal of Risk Finance, Vol. 7 No. 1, pp. 83-97.
    • (2006) Journal of Risk Finance , vol.7 , Issue.1 , pp. 83-97
    • Meier, U.1
  • 38
    • 85015608379 scopus 로고    scopus 로고
    • Business cycles in insurance and reinsurance: The case of France, Germany and Switzerland
    • Meier, U. and Outreville, F. (2006), Business cycles in insurance and reinsurance: the case of France, Germany and Switzerland, Journal of Risk Finance, Vol. 7 No. 2, pp. 160-76.
    • (2006) Journal of Risk Finance , vol.7 , Issue.2 , pp. 160-76
    • Meier, U.1    Outreville, F.2
  • 39
    • 49449125071 scopus 로고
    • Determinants of corporate borrowing
    • Myers, S.C. (1977), Determinants of corporate borrowing, Journal of Financial Economics, Vol. 5 No. 2, pp. 147-75.
    • (1977) Journal of Financial Economics , vol.5 , Issue.2 , pp. 147-75
    • Myers, S.C.1
  • 41
    • 0010043914 scopus 로고
    • Evidence on the time series properties of insurance premiums and causes of the underwriting cycle: New support for the capital market imperfection hypothesis
    • Niehaus, G. and Terry, A. (1993), Evidence on the time series properties of insurance premiums and causes of the underwriting cycle: new support for the capital market imperfection hypothesis, Journal of Risk and Insurance, Vol. 60 No. 3, pp. 466-97.
    • (1993) Journal of Risk and Insurance , vol.60 , Issue.3 , pp. 466-97
    • Niehaus, G.1    Terry, A.2
  • 43
    • 0000888844 scopus 로고
    • Irreversible investment, capacity choice, and the value of the firm
    • Pindyck, R. (1988), Irreversible investment, capacity choice, and the value of the firm, American Economic Review, Vol. 78 No. 5, pp. 969-85.
    • (1988) American Economic Review , vol.78 , Issue.5 , pp. 969-85
    • Pindyck, R.1
  • 45
    • 33644700752 scopus 로고    scopus 로고
    • Proactive and reactive product line strategies: Asymmetries between market leaders and followers
    • Shankar, V. (2006), Proactive and reactive product line strategies: asymmetries between market leaders and followers, American Economic Review, Vol. 52 No. 2, pp. 276-92.
    • (2006) American Economic Review , vol.52 , Issue.2 , pp. 276-92
    • Shankar, V.1
  • 46
    • 0001269383 scopus 로고    scopus 로고
    • The impact of firm risk on property-liability insurance prices
    • Sommer, D.W. (1996), The impact of firm risk on property-liability insurance prices, Journal of Risk and Insurance, Vol. 63 No. 3, pp. 501-14.
    • (1996) Journal of Risk and Insurance , vol.63 , Issue.3 , pp. 501-14
    • Sommer, D.W.1
  • 49
    • 0039078343 scopus 로고
    • Ratemaking methods and profit cycles in property liability insurance
    • Venezian, E.C. (1985), Ratemaking methods and profit cycles in property liability insurance, Journal of Risk and Insurance, Vol. 52 No. 3, pp. 477-500.
    • (1985) Journal of Risk and Insurance , vol.52 , Issue.3 , pp. 477-500
    • Venezian, E.C.1
  • 50
    • 85015633801 scopus 로고    scopus 로고
    • The use of spectral analysis in insurance cycle research
    • Venezian, E.C. (2006), The use of spectral analysis in insurance cycle research, Journal of Risk Finance, Vol. 7 No. 2, pp. 177-88.
    • (2006) Journal of Risk Finance , vol.7 , Issue.2 , pp. 177-88
    • Venezian, E.C.1
  • 51
    • 85015704251 scopus 로고    scopus 로고
    • Application of Spectral and ARIMA analysis to combined-ratio patterns
    • Venezian, E.C. and Leng, C. (2006), Application of Spectral and ARIMA analysis to combined-ratio patterns, Journal of Risk Finance, Vol. 7 No. 2, pp. 189-214.
    • (2006) Journal of Risk Finance , vol.7 , Issue.2 , pp. 189-214
    • Venezian, E.C.1    Leng, C.2


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.