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Ιδρυματικό Αποθετήριο [SANDBOX]
Πολυτεχνείο Κρήτης
Πολυτεχνείο Κρήτης
EN
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| URI: | http://purl.tuc.gr/dl/dias/6FB0F660-FAAB-4564-892E-FF3AD3094150 | ||
| Έτος | 2013 | ||
| Τύπος | Δημοσίευση σε Περιοδικό με Κριτές | ||
| Άδεια Χρήσης |
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| Βιβλιογραφική Αναφορά | Pasiouras F, Gaganis C., "Regulations and soundness of insurance firms: International evidence", Journal of Business Research, Vol. 66, no. 5, Pages 632–642, May 2013. doi: 10.1016/j.jbusres.2012.09.023 https://doi.org/10.1016/j.jbusres.2012.09.023 | ||
| Εμφανίζεται στις Συλλογές |
This paper provides the first cross-country study on the association between firms' soundness and regulatory policies in the insurance industry. Measuring solvency with an accounting based measure of distance to default, namely the Z-score, we find that the power of the supervisory authorities, and regulations related to both technical provisions and investments have an impact on soundness that is robust to controls for firm-specific and country-specific factors. In contrast, corporate governance and internal control rules do not influence soundness. Similarly, capital requirements do not appear to have a robust impact on soundness.
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