Centro de Documentacion de Fundación MAPFRE - Corporate governance and risk taking : evidence from the U.K. and German insurance markets

Notes: Sumario: We analyze the impact of factors related to corporate governance (i.e., compensation, monitoring, and ownership structure) on risk taking in the insurance industry. We measure asset, product, and financial risk in insurance companies and employ a structural equation model in which corporate governance is modeled as a latent factor. Based on this model, we present empirical evidence on the link between corporate governance and risk taking, considering insurers from two large European insurance markets. Higher levels of compensation, increased monitoring (more independent boards with more meetings), and more blockholders are associated with lower risk taking. Our empirical results provide justification for including factors related to corporate governance in insurance regulationRelated records: En: The Journal of risk and insurance. - Nueva York : The American Risk and Insurance Association, 1964- = ISSN 0022-4367. - 01/09/2014 Volumen 81 Número 3 - septiembre 2014 , p. 653-682Materia / lugar / evento: Gobierno corporativo Mercado de seguros Gerencia de riesgos Control de riesgos Econometría Estudios estadísticos Accionistas Reino Unido Alemania Otros autores: Marek, Sebastian D.
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