Is catering rewarded? : evidence from the insurance industry

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<title>Is catering rewarded?</title>
<subTitle> : evidence from the insurance industry</subTitle>
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<name type="personal" usage="primary" xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080029081">
<namePart>Ma, Yu-Luen</namePart>
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<namePart>Ren, Yayuan</namePart>
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<abstract displayLabel="Summary">Ma and Ren, find that insurers cater to the market's preference when making decisions on growth. In this paper, we further examine whether the catering behavior is rewarded by higher market valuation in both short term and long term and whether the catering involves greater risk. We find that insurers catering to the stock market's preference receive a greater abnormal return in the short term, but not in the long term. Insurers that frequently cater are found to have higher volatility, smaller size and lower profitability, which deserves regulatory attention</abstract>
<note type="statement of responsibility">Yu-Luen Ma, Yayuan Ren</note>
<subject xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080586294">
<topic>Mercado de seguros</topic>
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<subject xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080590567">
<topic>Empresas de seguros</topic>
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<subject xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080564001">
<topic>Restauración</topic>
</subject>
<subject xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080599645">
<topic>Valoración de bienes</topic>
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<title>Geneva papers on risk and insurance : issues and practice</title>
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<publisher>Geneva : The Geneva Association, 1976-</publisher>
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<identifier type="issn">1018-5895</identifier>
<identifier type="local">MAP20077100215</identifier>
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<text>02/07/2018 Volumen 43 Número 3 - julio 2018 , p. 539-559</text>
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