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Full-Text Articles in Insurance

Controlling-Minority Shareholder Incentive Conflicts And Directors' And Officers' Liability Insurance: Evidence From China, Hong Zou, Man Lai, Sonia Wong, Chun Yau, Clement Shum, Jun Xiong, Jun Yan Jan 2008

Controlling-Minority Shareholder Incentive Conflicts And Directors' And Officers' Liability Insurance: Evidence From China, Hong Zou, Man Lai, Sonia Wong, Chun Yau, Clement Shum, Jun Xiong, Jun Yan

Staff Publications

This paper examines the demand for directors’ and officers’ liability insurance (D&O insurance) by Chinese listed companies where controlling-minority shareholder incentive conflicts are acute due to the concentrated and split ownership structure. We hypothesize and find evidence that the incidence of seeking D&O insurance is positively related to the extent of controlling-minority shareholder incentive conflicts – a finding not previously documented in the literature. Using an event study, we find that the announcements of D&O insurance decisions in firms that engage in earnings management, and/or are controlled by a local government (such firms tend to have stronger ...


Reducing Moral Hazard In Deposit Insurance : A Policy Instrument For Generating Regulatory Information, Chengze, Simon Fan Apr 1995

Reducing Moral Hazard In Deposit Insurance : A Policy Instrument For Generating Regulatory Information, Chengze, Simon Fan

Centre for Public Policy Studies : CPPS Working Paper Series

No abstract provided.