What drives corporate dividend policy remains an unsettled issue, largely due to data limitations, as many privately held firms do not need disclose their financial reports publicly. We examine and compare the policies of with three distinct ownership structures—publicly stock insurers, mutual insurers—within U.S. property-liability insurance industry. Our findings indicate that publicly insurers are more likely distribute dividends tend pay higher compared paying least in matched sample....

Abstract Landowners rarely insure standing timber, suggesting the limited products available do not appeal to potential clientele. We estimated landowner willingness pay (WTP) for timber insurance. Data were generated through a contingent valuation survey. Questionnaires mailed random sample of Mississippi private forest landowners with 100+ acres forestland. WTP insurance was derived using an interval-censored survival model and Kaplan-Meier Turnbull nonparametric model. The premium rate...

Prior research on the demand for life insurance in household portfolio holdings has not made a clear distinction between shifts resulting from active allocation decisions and those passive acceptance. Our study examines relationship dynamic setting, using panel data before after 2008 financial crisis. The provides first evidence that to invest cash equivalents, bonds, retirement assets, pay off debts significantly affect ownership.

Purpose Previous research has documented that high vega CEOs increase R&D investment (Coles et al., 2006) and liquidity (Liu Mauer, 2011), but provided little clue about how those get the necessary resources to support choices. Frankel al. (2016) highlight firms’ compensation incentives manipulate working capital components, authors use accounts receivable as an example illustrate. The paper aims discuss these issues. Design/methodology/approach employ sorting, various regression methods...

A BSTRACT This article studies the timing of state‐level tort reform enactments between 1971 and 2005. Using discrete‐time hazard models, we find level litigation activity—as measured by incurred liability insurance losses, number lawyers, cases commenced—to be most important robust determinant adoption. Political‐institutional factors regional effects—such as Republican control state government, single‐party legislature governorship, a (relatively) conservative political ideology among...

We identify the effect of public guarantees on market discipline by exploiting rich variation in U.S. state property-liability insurer obligations. find that financing is significantly more risk-sensitive absence government guarantees. The effects are especially pronounced among insurers rated A- or lower A.M. Best. For downgraded insurers, we premium growth business not covered falls relation to business, with estimate difference being as high 17% for and 9% below A-. findings suggest...

Although leasing hunting rights increases landowner income and provides incentives to improve wildlife habitat, few landowners lease their lands. In this article, attitudes about potential problems associated with fee leases were explored based on a mail survey of nonindustrial private forest (NIPF) landowners. Responses questions eliciting levels concern 17 issues aggregated into four categories: concerns property damage liability, customer relations, impacts personal use, safety....

Abstract There is a growing interest in developing standing timber insurance market because of natural catastrophes and climate change, yet private forests are rarely insured worldwide. Landowner preferences for insurance's multiple attributes essential to study the demand. We use conjoint analysis elicit measure importance value attribute levels. find that premium most relevant important attribute, followed by coverage deductible. The willingness‐to‐pay broadest lowest deductible can be as...

Abstract We identify the effect of public guarantees on market discipline by exploiting variation in US state property–casualty insurer obligations. find that guaranty funds have little risk‐sensitivity financing overall, with exception rating changes at key threshold level A.M. Best's A− rating. For insurers rated before a downgrade, we premium growth business not covered falls relation to guarantees. estimate this difference be as high 14.9% for commercial insurers.

We employ impulse response analyses to study aggregated time series data of the US property-casualty insurance market. find that price is more sensitive towards loss shocks than total premiums. Our results at industry level support capacity constraint theory significantly increase and reduce coverage quantity. The firm also examined. a positive relationship between insurers' post-catastrophe performance capital while their ambiguously associated with financial quality losses. findings...

People have been exploring happiness through various "tools", "processes" and "objects" to uncover the mystery of happiness. But few people measured quantitatively. In this article, I will analyze reasons why cannot be from perspective measurement, highlight shortcomings current measurement. hope study help us identify barriers we need overcome when measuring Of course, there are a number limitations in paper, such as lack discussion measurement cognitive neuroscience use multiple methods...

Investments in information technology (IT) have long been assumed to correlate positively with business value and market share. In response these assumptions, firms invest improve various functions include customer service, profitability, efficiency. However, despite long-held beliefs, there is little consensus the literature regarding how measure created by increased investment technology. Variability firm type individual organizational goals, data availability, other factors may explain...