Finance and Financial Management Commons^™

On Becoming A Cost Effective Company, Robert D. Shapiro, Barton H. Clennon

Journal of Actuarial Practice (1993–2006)

The 1990s financial services environment requires each life company to identify its distinct capabilities and competitive strengths and to build its future direction from these features. This demands a fundamental rethinking of traditional approaches to planning, organization, and financial management.

Ethical Issues, Helps, And Challenges: Perceptions Of U.S. Actuaries, Therese M. Vaughan, Robert W. Cooper, Garry L. Frank

Journal of Actuarial Practice (1993–2006)

This paper reports the findings of a survey of Fellows of the Casualty Actuarial Society (FCAS) to determine their perceptions of the key ethical issues and dilemmas facing the industry today and the factors they view as most helpful and challenging in resolving these dilemmas. The responses are compared to a previous survey of Fellows of the Society of Actuaries (FSA). The study finds that FSAs and FCASs tend to rank key ethical issues similarly and that both groups of actuaries tend to look first to their own personal values, second to certain factors in their business environment, and last …

Life Insurance Applications Of Recursive Formulas, Timothy L. Giles

Journal of Actuarial Practice (1993–2006)

This paper discusses several practical applications of recursive formulas:

a) Traditional whole life-As an introduction, the well-known relationship between successive terminal reserves is reviewed. Recursive formulas are developed to calculate the reserves and the premiums;

b) Universal life-Recursive formulas are used both for the calculation of target premiums and reserves. Consideration is given to the TEFRA corridor;

c) Paid-up rider-A participating single premium rider that provides a level death benefit can be devised using an inherent one year term benefit. Recursive functions are used to determine the premium that precisely matures the rider.

Because the APL programming language is particularly …

Journal Of Actuarial Practice, Volume 1, No.1, 1993, Colin Ramsay , Editor

Journal of Actuarial Practice (1993–2006)

ARTICLES

Global Social Security: How the Rules are Changing in Certain Countries • Robert J. Myers

On Becoming a Cost Effective Company • Robert D. Shapiro and Barton H. Clennon

The Process of Pension Forecasting • Michael Sze

Cost-Based Pricing of Individual Automobile Risk Transfer: Car-Mile Exposure Unit Analysis • Patrick Butler

Discussion • Ruy A. Cardoso & Richard G. WolI & Patrick Butler's Reply

A New Approach to Modeling Excess Mortality • Peter D. England and Steven Haberman

The Small Plan Audit Program: The Opinions of the Court • Arnold F. Shapiro

BOOK REVIEWS

A. Hoque Sharif reviews "Options …

Journal Of Actuarial Practice, Volume 1, No. 2, 1993, Colin Ramsay , Editor

Journal of Actuarial Practice (1993–2006)

ARTICLES

Ethical Issues, Helps, and Challenges: Perceptions of U.S. Actuaries • Therese M. Vaughan, Robert W. Cooper, and Garry L. Frank

Managing the Relative Volumes of Participating and Nonparticipating Business in a Mutual Life Company • Robert G. Chadburn

A Critique of Defined Contribution Plans Using a Simulation Approach • David M. Knox

Discussion • Michael Sze & David M. Knox's Reply

The Definition of Insurance: Implications for a Health Insurance Demand Model • Mark J. Browne

Discussion • Charles S. Fuhrer & Mark J. Browne's Reply

On the Equivalence of the Loss Ratio and Pure Premium Methods of Determining …

Funding Methods And Pension Plan Amendments, Keith P. Sharp

Journal of Actuarial Practice (1993–2006)

This paper considers the treatment of plan amendments under the individual entry age normal and projected unit credit methods. Alternative treatments are considered, and comments are made about their acceptability.

The Small Plan Audit Program: The Opinions Of The Court, Arnold F. Shapiro

Journal of Actuarial Practice (1993–2006)

One of the most important issues of recent years from the perspective of many pension actuaries is the IRS's small plan audit program. The program initially was expected to raise two-thirds of a billion dollars by targeting well-funded defined benefit plans with five or fewer participants. The focus of the audit was the assumed interest rate and the normal retirement age, both of which the IRS generally regarded as too low. While the focus of the audit was relatively narrow, the issue it raised was a funda mental one. The basic question was the extent to which the IRS could …

Managing The Relative Volumes Of Participating And Nonparticipating Business In A Mutual Life Company, Robert G. Chadburn

Journal of Actuarial Practice (1993–2006)

Management decisions of a mutual life company involving the amounts and relative proportions of participating (with profits) and nonparticipating (without profits) business and the level of expenses are examined in relation to their effect on participating policyholders' returns. A particular expense ratio is defined that plays a key role in a framework for making such decisions. The sensitivity of participating policy returns to changes in each factor are analyzed. Companies with expense ratios (as defined) of less than 2 are shown to prefer a different strategy from companies with higher ratios. There is an incomplete tendency for the ratio to …

Cost-Based Pricing Of Individual Automobile Risk Transfer: Car-Mile Exposure Unit Analysis, Patrick Butler

Journal of Actuarial Practice (1993–2006)

Every mile traveled by a car transfers risk to its insurer. This paper posits that the product of a cents-per-mile rate based on class experience and the miles recorded on the car's odometer appropriately earns prepaid premium while the car is driven. Operation of a practical car-mile system is described briefly. To test the competing idea that driver-record pricing responds to known large differences in risk transfer, a model used to validate claim free discounts is reexamined with the car-mile as the measure of individual cost. Driver-record pricing is found to inflate car-year price-to-cost differences. Consequences of accident rate variability …

Discussion Of Patrick Butler's "Cost-Based Pricing Of Individual Automobile Risk Transfer: Car-Mile Exposure Unit Analysis", Ruy A. Cardoso

Journal of Actuarial Practice (1993–2006)

No abstract provided.

Lobbying Activity In The Standards Setting Process: Fasb Statement On Financial Accounting Standards No. 106, "Employers' Accounting For Postretirement Benefits Other Than Pensions", Christine Schalow

Graduate Theses and Dissertations

The purpose of this study is to explain and classify the behavior of corporate managers in the accounting standards setting process as it related to Statement of Financial Accounting Standards No. 106. Evidence from this study provides readers a better understanding of participation of corporate managers in the accounting standards setting process. To accomplish the objective, this study surveyed corporate representatives who responded to the Financial Accounting Standards Board's, February 1989, exposure draft, "Employers' Accounting for Postretirement Benefits Other Than Pensions," (OPEB). A sample of corporations whose representatives did not respond to the OPEB exposure draft, although the corporations did …

No. 120 1992 November

International Journal for Business Education

SIEC Historical Documents

No. 119 1992 April

International Journal for Business Education

SIEC Historical Documents

Measurement And Pricing Of Corporate Risk, R Vaidyanathan

IIMB Management Review

No abstract provided.

No. 118 1991 November

International Journal for Business Education

SIEC Historical Documents

No. 117 1991 April

International Journal for Business Education

SIEC Historical Documents

No. 116 1990 November

International Journal for Business Education

SIEC Historical Documents

No. 115 1990 April

International Journal for Business Education

SIEC Historical Documents

Takeovers, Prasanna Chandra

IIMB Management Review

A takeover generally involves the acquisition of a certain block of equity capital of a company which enables the acquirer to exercise control over the affairs of the company. In theory, the acquirer must buy more than 50 percent of the paid-up equity of the acquired company to enjoy complete control. In practice, however, effective control can be exercised with a smaller holding, usually between 10 and 40 percent, because the remaining shareholders, scattered and ill-organized, are not likely to challenge the control of the acquirer. Takeover mania appears to be sweeping the Indian corporate world. This has perhaps been …

Dividend Policy And Tax Structure, Kian Guan Lim

Research Collection Lee Kong Chian School Of Business

We show that a certain class of progressive tax structure induces an optimal dividend policy which is autogressive in nature. The theoritical model is consistent with empirically observed dividend policies.

No. 114 1989 November

International Journal for Business Education

SIEC Historical Documents

No. 113 1989 April

International Journal for Business Education

SIEC Historical Documents

No. 112 1988 November

International Journal for Business Education

SIEC Historical Documents

No. 111 1988 April

International Journal for Business Education

SIEC Historical Documents

No. 110 November 1987

International Journal for Business Education

SIEC Historical Documents

Introduction To Lease Financing By Rajas Parchure & Ashok N Kumar, New York: Time Research Foundation, 1985., Prasanna Chandra

IIMB Management Review

No abstract provided.

No. 109 1987 April

International Journal for Business Education

SIEC Historical Documents

The Leverage Problem In The Valuation Of Privately Held Firms, Thomas Berry, John Houston

College of Business Faculty and Staff Works

No abstract provided.

No. 108 1986 November

International Journal for Business Education

SIEC Historical Documents

No. 106 1985 November

International Journal for Business Education

SIEC Historical Documents