Ownership structure and control : the mutualization fo stock life insurance companies

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      <subfield code="a">Mayers, David</subfield>
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      <subfield code="a">Ownership structure and control</subfield>
      <subfield code="b"> : the mutualization fo stock life insurance companies</subfield>
      <subfield code="c">David Mayers, Clifford W. Smith</subfield>
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      <subfield code="c">1986</subfield>
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      <subfield code="a">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</subfield>
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      <subfield code="a">Seguro de vida</subfield>
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      <subfield code="a">Mutualidades de seguros</subfield>
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      <subfield code="a">Smith, Clifford W.</subfield>
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      <subfield code="t">Journal of financial economics. - New York</subfield>
      <subfield code="g">nº 16, 1986 ; p. 73-98</subfield>
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