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Ownership structure and control : the mutualization fo stock life insurance companies
Recurso electrónico / electronic resource
MAP20090035089
Mayers, David ‌
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. Título.