Centro de Documentacion de Fundación MAPFRE - Ownership structure and control : the mutualization fo stock life insurance companies

MAP20090035089

Ownership structure and control : the mutualization fo stock life insurance companies / David Mayers, Clifford W. Smith

Sumario: the authors examine an unusual sample of firms within the life insurance industry: 30 firms which switched from a commons-stock to a mutual-ownership structure. His evidence indicates that the rate of growth of premium income from policyholders remains unchanged, stockholders receive a premium for their stock, and management turnower declines; thus, no group of claimholders systematically loses in the sample of firms which choose to go through the mutualization process. They therefore conclude that for this sample of firms, changing from a stock to a mutual-ownership structure is on average efficiency-enhancing

En: Journal of financial economics. - New York. - nº 16, 1986 ; p. 73-98

1. Seguro de vida . 2. Mutualidades de seguros . 3. Estructura empresarial . 4. Control de gestión . I. Smith, Clifford W. . II. Title.