Capital market development, competition, property rights, and the value of insurer product-line diversification : a cross-country analysis

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<dc:creator>Berry-Stölzle, Thomas R.</dc:creator>
<dc:date>2013-06-03</dc:date>
<dc:description xml:lang="es">Sumario: In this article, we show that the effect of product diversification on performance is not homogeneous across countries. Diversified insurance companies perform significantly worse than their focused competitors in countries with well-developed capital markets, high levels of property rights protection, and high levels of competition. In addition, we find that the diversificationperformance relationship for insurance companies depends on company size. For large insurers operating in countries with less developed capital markets, diversification significantly increases performance. Our results suggest that the optimal organizational structure may be different for insurers operating in emerging economies than for insurers operating in developed countries.</dc:description>
<dc:identifier>https://documentacion.fundacionmapfre.org/documentacion/publico/es/bib/143562.do</dc:identifier>
<dc:language>spa</dc:language>
<dc:rights xml:lang="es">InC - http://rightsstatements.org/vocab/InC/1.0/</dc:rights>
<dc:type xml:lang="es">Artículos y capítulos</dc:type>
<dc:title xml:lang="es">Capital market development, competition, property rights, and the value of insurer product-line diversification : a cross-country analysis</dc:title>
<dc:relation xml:lang="es">En: The Journal of risk and insurance. - Nueva York : The American Risk and Insurance Association, 1964- = ISSN 0022-4367. - 03/06/2013 Volumen 80 Número 2 - junio 2013 </dc:relation>
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