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Articles 1 - 13 of 13
Full-Text Articles in Finance and Financial Management
Third Party Moral Hazard And The Problem Of Insurance Externalities, Gideon Parchomovsky, Peter Siegelman
Third Party Moral Hazard And The Problem Of Insurance Externalities, Gideon Parchomovsky, Peter Siegelman
All Faculty Scholarship
Insurance can lead to loss or claim-creation not just by insureds themselves, but also by uninsured third parties. These externalities—which we term “third party moral hazard”—arise because insurance creates opportunities both to extract rents and to recover for otherwise unrecoverable losses. Using examples from health, automobile, kidnap, and liability insurance, we demonstrate that the phenomenon is widespread and important, and that the downsides of insurance are greater than previously believed. We explain the economic, social and psychological reasons for this phenomenon, and propose policy responses. Contract-based methods that are traditionally used to control first-party moral hazard can be welfare-reducing in …
The Impact Of The Capital Market, The Insurance Sector And The Mortgage Finance Sector On Economic Growth In Egypt, 2005-2019, Hana Anis
Theses and Dissertations
This thesis aims to explore the relationship between financial markets and economic growth in Egypt for the 15 years period, starting from 2005 to 2019. The study concentrates on the non-banking financial sector which includes the stock market, the debt market, the mortgage and the insurance sectors. The Vector Autoregressive (VAR) model is utilized to describe the relationship between GDP growth rate, as a proxy for economic growth, and a number of variables from the financial sector. Results of the analysis show that there is a significant relationship and statistical causality between the growth rate and the debt market, represented …
Private Equity Value Creation In Finance: Evidence From Life Insurance, Divya Kirti, Natasha Sarin
Private Equity Value Creation In Finance: Evidence From Life Insurance, Divya Kirti, Natasha Sarin
All Faculty Scholarship
This paper studies how private equity buyouts create value in the insurance industry, where decentralized regulation creates opportunities for aggressive tax and capital management. Using novel data on 57 large private equity deals in the insurance industry, we show that buyouts create value by decreasing insurers' tax liabilities; and by reaching-for-yield: PE firms tilt their subsidiaries' bond portfolios toward junk bonds while avoiding corresponding capital charges. Previous work on affiliated or "shadow" reinsurance and capital management misses the important role that private equity buyouts play as recent drivers of these phenomenon. The trend we document is of growing importance in …
Do Disaster Experience And Knowledge Affect Insurance Take-Up Decisions?”, Jing Cai, Changcheng Song
Do Disaster Experience And Knowledge Affect Insurance Take-Up Decisions?”, Jing Cai, Changcheng Song
Research Collection Lee Kong Chian School Of Business
This study examines the effect of experience and knowledge on weather insurance adoption. First, we conduct insurance games with farmers, and find that the treatment improves real insurance take-up by 46%. The effect is not driven by changes in risk attitudes and perceived probability of disasters, or by learning of insurance benefits, but is driven by the experience acquired in the game. Second, we find that providing information about the payout probability has a strong positive effect on insurance take-up. Finally, when subjects receive both treatments, the probability information has a greater impact on take-up than does the disaster experience.
Buying Insurance The D-I-Y Way, Benedict Koh
Buying Insurance The D-I-Y Way, Benedict Koh
Research Collection Lee Kong Chian School Of Business
Singaporeans face two key risks in life: dying too young and living too long. The latter risk, commonly known as longevity risk, has been the key focus of the Central Provident Fund Advisory Panel's recent deliberation and recommendations. By saving the Basic Minimum Sum and purchasing a life annuity, Singaporeans can hedge the risk of outliving their lifetime savings.
Insurance Against Misinformation In The Securities Market, Tom Baker
Insurance Against Misinformation In The Securities Market, Tom Baker
All Faculty Scholarship
Prepared at the request of the Task Force to Modernize Securities Legislation in Canada, this study describes and evaluates evaluate a new capital markets insurance concept: securities misinformation insurance. This new insurance would compensate investors for losses caused by securities law violations. The most powerful objection to this new concept is that investors do not need a new insurance program for securities misinformation losses. Individual and institutional investors already can spread securities misinformation losses by holding a diversified portfolio. Nevertheless, a securities misinformation insurance program has the potential to provide systemic benefits: improved compliance with securities laws (resulting from cost …
Central Bank Of Nigeria Statistical Bulletin, December 1997, Central Bank Of Nigeria
Central Bank Of Nigeria Statistical Bulletin, December 1997, Central Bank Of Nigeria
CBN Statistical Bulletin
Financial data is compiled from documents like balance sheets and financial statements, which are designed for legal and administrative purposes rather than economic analysis. The Financial Statistics Office compiles the analytical CBN balance sheet without major reclassifications or rearrangements. However, due to problems with imprecise definitions, improper classification, inadequate sectorization, inaccuracies, irregular valuation procedures, and errors in data compilation, major revisions were made. The Computer Services Department generates summary and detailed analytical balance sheets based on the end-month BANKOS 302 of the CBN, Lagos branch. The consolidation of accounts of monetary authorities and deposit money banks produces monetary survey accounts. …
Central Bank Of Nigeria Statistical Bulletin June 1997, Central Bank Of Nigeria
Central Bank Of Nigeria Statistical Bulletin June 1997, Central Bank Of Nigeria
CBN Statistical Bulletin
Financial data is compiled from financial statements and balance sheets, which are designed to meet legal and administrative requirements rather than economic analysis needs. The Finance and Accounts Department prepares the CBN accounting balance sheet data for the Research Department to compile the CBN analytical accounts. However, major revisions were made due to imprecise definitions, improper classification, inadequate sectorization, inaccuracies, irregular valuation procedures, and errors in data compilation on foreign assets. The Computer Services Department uses high-level computing to generate both summary and detailed analytical balance sheets based on the end-month BANKOS 302 of the CBN, Lagos branch. The consolidation …
Central Bank Of Nigeria Statistical Bulletin, December 1996, Central Bank Of Nigeria
Central Bank Of Nigeria Statistical Bulletin, December 1996, Central Bank Of Nigeria
CBN Statistical Bulletin
Financial data is compiled from documents like balance sheets and financial statements to meet legal and administrative requirements, rather than economic analysis. The Finance and Accounts Department prepares the CBN accounting balance sheet data for the Research Department, while the Financial Statistics Office compiles the analytical CBN balance sheet. Monetary authorities and deposit money banks consolidate accounts to produce monetary survey accounts. Monthly interest rate returns compute weighted average lending and deposit interest rates, and deposit rates are computed for various maturities. Clearing house statistics show the number and value of cheques cleared within the commercial banking system, reflecting the …
Central Bank Of Nigeria Statistical Bulletin, June 1996, Central Bank Of Nigeria
Central Bank Of Nigeria Statistical Bulletin, June 1996, Central Bank Of Nigeria
CBN Statistical Bulletin
Financial data is compiled from documents like balance sheets and financial statements, which are primarily designed for legal and administrative purposes. The Finance and Accounts Department uses Bloomberg sources to prepare CBN accounting balance sheet data for the Research Department to compile analytical accounts. The Financial Statistics Office compiles the analytical CBN balance sheet without reclassifications or rearrangements of available accounting data. The consolidation of accounts of monetary authorities and deposit money banks produces monetary survey accounts. Monthly interest rate returns are used to compute weighted average lending and deposit interest rates. Deposit rates are computed for various maturities. Clearing …
Central Bank Of Nigeria Statistical Bulletin, December 1995, Central Bank Of Nigeria
Central Bank Of Nigeria Statistical Bulletin, December 1995, Central Bank Of Nigeria
CBN Statistical Bulletin
Financial data is compiled from balance sheets and financial statements, which are primarily designed for legal and administrative purposes rather than economic analysis. The Finance and Accounts Department prepares the CBN accounting balance sheet data for the Research Department, using the monthly return of Assets and Liabilities and the summary trial balance as benchmarks. The Financial Statistics Office compiles the analytical CBN balance sheet without major reclassifications or rearrangements. The consolidation of accounts of monetary authorities and deposit money banks produces monetary survey accounts. Deposit money banks are highly prone to volatility and fragility, making them subject to regulations and …
Central Bank Of Nigeria Statistical Bulletin, June 1991, Central Bank Of Nigeria
Central Bank Of Nigeria Statistical Bulletin, June 1991, Central Bank Of Nigeria
CBN Statistical Bulletin
The financial statistics section offers comprehensive data on various financial subsectors, including money and banking, financial markets, non-bank financial institutions, and public finance statistics. Key areas covered include data consolidation of commercial and merchant banks, liquidity ratios, cash reserves, loan/deposit ratios, and credit distribution. Clearing house statistics provide information on volume of transactions within the commercial banking system and the number and value of cheques cleared. Financial markets provide information on new issues, treasury securities, money market assets, Nigerian Stock Exchange (NSE) transactions, and government debt instruments. Public finance statistics include federal government revenue and expenditure, sources such as oil, …
Activities Of Insurance Companies In Nigeria: 1983 - 1984, Central Bank Of Nigeria Cbn
Activities Of Insurance Companies In Nigeria: 1983 - 1984, Central Bank Of Nigeria Cbn
Economic and Financial Review
This report contains an analysis of data extracted from the returns lodged with the Federal Ministry of Finance by insurance companies operating in Nigeria during 1983-1984. In 1983 and 1984 about 92.9 and 98.9 per cent of the existing companies had filed their returns at the time the survey was conducted. Estimates were made for non-response in order to provide a basis for consolidating for the entire insurance industry. The report is divided into five parts: namely, the structure and performance of the insurance industry, life insurance business, non-life insurance business, assets and investment pattern of insurance companies; summary and …