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

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008  040609e20031201usa|||| | |00010|eng d
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1001 ‎$0‎MAPA20080048266‎$a‎Lai, Gene C.
24510‎$a‎Organizational structure and performance‎$b‎: evidence from the nonlife insurance industry in Japan‎$c‎Gene C. Lai, Piman Limpaphayom
5208 ‎$a‎This 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
65001‎$0‎MAPA20080590567‎$a‎Empresas de seguros
65011‎$0‎MAPA20080539047‎$a‎Japón
65001‎$0‎MAPA20080610739‎$a‎Estructura organizativa
65011‎$0‎MAPA20080578879‎$a‎Análisis empírico
65001‎$0‎MAPA20080573935‎$a‎Seguros no vida
65011‎$0‎MAPA20080586294‎$a‎Mercado de seguros
65001‎$0‎MAPA20080562342‎$a‎Estadísticas
7001 ‎$0‎MAPA20080224059‎$a‎Limpaphayom, Piman
7404 ‎$a‎The Journal of risk and insurance
7730 ‎$w‎MAP20077000727‎$t‎The Journal of risk and insurance‎$d‎Orlando‎$g‎Volume 70, number 4, December 2003 ; p.735-757