Centro de Documentacion de Fundación MAPFRE - Organizational structure and performance : evidence from the nonlife insurance industry in Japan

Notes: 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 adventageRelated records: En: The Journal of risk and insurance. - Orlando. - Volume 70, number 4, December 2003 ; p.735-757Materia / lugar / evento: Empresas de seguros Japón Estructura organizativa Análisis empírico Seguros no vida Mercado de seguros Estadísticas Otros autores: Limpaphayom, Piman
Secondary titles: Título: The Journal of risk and insurance
Other categories: 32

Rights: In Copyright (InC)

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