Directors' and officers' liability insurance and firm value
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| Tag | 1 | 2 | Value |
|---|---|---|---|
| LDR | 00000cab a2200000 4500 | ||
| 001 | MAP20180020094 | ||
| 003 | MAP | ||
| 005 | 20180830130552.0 | ||
| 008 | 180702e20180601usa|||p |0|||b|eng d | ||
| 040 | $aMAP$bspa$dMAP | ||
| 084 | $a332 | ||
| 100 | $0MAPA20180009389$aHo Hwang, Joon | ||
| 245 | 1 | 0 | $aDirectors' and officers' liability insurance and firm value$cJoon Ho Hwang, Byungmo Kim |
| 520 | $aThis study examines the effect of directors' and officers' liability (D&O) insurance on firm value. Previous studies are divided on the value implication of D&O insurance: some argue for various benefits of being covered by D&O insurance, whereas others focus on the managerial opportunism stemming from being insured. In order to address whether D&O insurance increases firm value, we utilize a sample of quoted Korean companies from a period in which the disclosure of D&O insurance information was mandatory and there was a significant cross-sectional variation in the firms' coverage of D&O insurance. We find that controlling for the endogeneity of D&O insurance coverage, D&O insurance increases firm value compared to noninsured firms. We also find evidence that the increase in firm value is pronounced for firms with greater growth opportunities, which suggests that D&O insurance can help firms to better convert growth opportunities into higher firm value. | ||
| 650 | 4 | $0MAPA20080556402$aSeguro D&O | |
| 650 | 4 | $0MAPA20080633790$aSeguro de responsabilidad civil patronal | |
| 650 | 4 | $0MAPA20080632908$aResponsabilidad de los administradores | |
| 650 | 4 | $0MAPA20080609184$aValoración de empresas | |
| 650 | 4 | $0MAPA20080626822$aCreación de valor en la empresa | |
| 700 | 1 | $0MAPA20180012181$aKim, Byungmo | |
| 773 | 0 | $wMAP20077000727$tThe Journal of risk and insurance$dNueva York : The American Risk and Insurance Association, 1964-$x0022-4367$g01/06/2018 Volumen 85 Número 2 - junio 2018 , p. 447-482 |