Organizational structure and performance : evidence from the nonlife insurance industry in Japan

<?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.loc.gov/MARC21/slim http://www.loc.gov/standards/marcxml/schema/MARC21slim.xsd">
  <record>
    <leader>00000nab a2200000 i 4500</leader>
    <controlfield tag="001">MAP20071505418</controlfield>
    <controlfield tag="003">MAP</controlfield>
    <controlfield tag="005">20080418124632.0</controlfield>
    <controlfield tag="007">hzruuu---uuuu</controlfield>
    <controlfield tag="008">040609e20031201usa||||    | |00010|eng d</controlfield>
    <datafield tag="040" ind1=" " ind2=" ">
      <subfield code="a">MAP</subfield>
      <subfield code="b">spa</subfield>
    </datafield>
    <datafield tag="084" ind1=" " ind2=" ">
      <subfield code="a">32</subfield>
    </datafield>
    <datafield tag="100" ind1="1" ind2=" ">
      <subfield code="0">MAPA20080048266</subfield>
      <subfield code="a">Lai, Gene C.</subfield>
    </datafield>
    <datafield tag="245" ind1="1" ind2="0">
      <subfield code="a">Organizational structure and performance</subfield>
      <subfield code="b">: evidence from the nonlife insurance industry in Japan</subfield>
      <subfield code="c">Gene C. Lai, Piman Limpaphayom</subfield>
    </datafield>
    <datafield tag="520" ind1="8" ind2=" ">
      <subfield code="a">This study examines the impact of organizational structure on firm performance, incentive problems , and financial decisions in the Japanese nonlife (property-casualty) insurance industry. Stock companies that belong to one of six horizontal keiretsu groups have lower expenses and lower levels of free cash flow than independent stock and mutual insurance companies. Keiretsu insurers also have higher profitability and higher loss ratios than independent insurers. With a limited sample size , there is some evidence that mutual insurers have higher level of free cash flows , higher investment incomes, and lower financial leverage than their stock counterparts. Overall, empirical evidence suggest that each structure has its own comparative adventage</subfield>
    </datafield>
    <datafield tag="650" ind1="0" ind2="1">
      <subfield code="0">MAPA20080590567</subfield>
      <subfield code="a">Empresas de seguros</subfield>
    </datafield>
    <datafield tag="650" ind1="1" ind2="1">
      <subfield code="0">MAPA20080539047</subfield>
      <subfield code="a">Japón</subfield>
    </datafield>
    <datafield tag="650" ind1="0" ind2="1">
      <subfield code="0">MAPA20080610739</subfield>
      <subfield code="a">Estructura organizativa</subfield>
    </datafield>
    <datafield tag="650" ind1="1" ind2="1">
      <subfield code="0">MAPA20080578879</subfield>
      <subfield code="a">Análisis empírico</subfield>
    </datafield>
    <datafield tag="650" ind1="0" ind2="1">
      <subfield code="0">MAPA20080573935</subfield>
      <subfield code="a">Seguros no vida</subfield>
    </datafield>
    <datafield tag="650" ind1="1" ind2="1">
      <subfield code="0">MAPA20080586294</subfield>
      <subfield code="a">Mercado de seguros</subfield>
    </datafield>
    <datafield tag="650" ind1="0" ind2="1">
      <subfield code="0">MAPA20080562342</subfield>
      <subfield code="a">Estadísticas</subfield>
    </datafield>
    <datafield tag="700" ind1="1" ind2=" ">
      <subfield code="0">MAPA20080224059</subfield>
      <subfield code="a">Limpaphayom, Piman</subfield>
    </datafield>
    <datafield tag="740" ind1="4" ind2=" ">
      <subfield code="a">The Journal of risk and insurance</subfield>
    </datafield>
    <datafield tag="773" ind1="0" ind2=" ">
      <subfield code="w">MAP20077000727</subfield>
      <subfield code="t">The Journal of risk and insurance</subfield>
      <subfield code="d">Orlando</subfield>
      <subfield code="g">Volume 70, number 4, December 2003 ;  p.735-757</subfield>
    </datafield>
  </record>
</collection>