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The Effect Of Defined Contribution Plans On The Retirement Decision, Wonku Hong
The Effect Of Defined Contribution Plans On The Retirement Decision, Wonku Hong
Risk Management and Insurance Dissertations
This study examines the effect of pensions on the timing of retirement, focusing on the differences between defined benefit (DB) plans and defined contribution (DC) plans. I find that DC plans have different effects on the accumulation of retirement wealth, the incentives for retirement and the risk of retirement benefits than DB plans. Thereby, DC plans have different effects from DB plans on the decision to retire. This paper is the first empirical study to investigate the effect of longevity risk in pension plans on retirement. It is an important addition to the literature on retirement behavior since longevity risk …
Operational Risk Capital Provisions For Banks And Insurance Companies, Edoh Fofo Afambo
Operational Risk Capital Provisions For Banks And Insurance Companies, Edoh Fofo Afambo
Risk Management and Insurance Dissertations
This dissertation investigates the implications of using the Advanced Measurement Approaches (AMA) as a method to assess operational risk capital charges for banks and insurance companies within Basel II paradigms and with regard to U.S. regulations. Operational risk has become recognized as a major risk class because of huge operational losses experienced by many financial firms over the last past decade. Unlike market risk, credit risk, and insurance risk, for which firms and scholars have designed efficient methodologies, there are few tools to help analyze and quantify operational risk. The new Basel Revised Framework for International Convergence of Capital Measurement …