Corporate governance and risk taking : evidence from the U.K. and German insurance markets

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<title>Corporate governance and risk taking</title>
<subTitle>: evidence from the U.K. and German insurance markets</subTitle>
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<namePart>Marek, Sebastian D.</namePart>
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<abstract displayLabel="Summary">We analyze the impact of factors related to corporate governance (i.e., compensation, monitoring, and ownership structure) on risk taking in the insurance industry. We measure asset, product, and financial risk in insurance companies and employ a structural equation model in which corporate governance is modeled as a latent factor. Based on this model, we present empirical evidence on the link between corporate governance and risk taking, considering insurers from two large European insurance markets. Higher levels of compensation, increased monitoring (more independent boards with more meetings), and more blockholders are associated with lower risk taking. Our empirical results provide justification for including factors related to corporate governance in insurance regulation</abstract>
<note type="statement of responsibility">Martin Eling, Sebastian D. Marek</note>
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<topic>Gerencia de riesgos</topic>
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<topic>Control de riesgos</topic>
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<title>The Journal of risk and insurance</title>
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<publisher>Nueva York : The American Risk and Insurance Association, 1964-</publisher>
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<identifier type="issn">0022-4367</identifier>
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<text>01/09/2014 Volumen 81 Número 3 - septiembre 2014 , p. 653-682</text>
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