Búsqueda

Organization structure and corporate demand for reinsurance : the case of the japanese Keiretsu

Recurso electrónico / Electronic resource
Registro MARC
Tag12Valor
LDR  00000cab a2200000 4500
001  MAP20170019541
003  MAP
005  20170621143905.0
008  170613e20170605esp|||p |0|||b|spa d
040  ‎$a‎MAP‎$b‎spa‎$d‎MAP
084  ‎$a‎5
1001 ‎$0‎MAPA20170007852‎$a‎Yanase, Noriyoshi
24500‎$a‎Organization structure and corporate demand for reinsurance‎$b‎: the case of the japanese Keiretsu‎$c‎Noriyoshi Yanase, Piman Limpaphayom
520  ‎$a‎This study investigates the impact of organization structure on corporate demand for reinsurance. Previous research has shown that the unique corporate groupings in Japan known as the keiretsu have relatively low bankruptcy costs, low agency conflicts, low information asymmetry, and low effective taxes. These conditions should mitigate the benefits of reinsurance purchase. This conjecture is tested by examining demand for reinsurance of Japanese non-life insurance companies during 1974-2010. Consistent with the prediction, keiretsu non-life insurers have lower reinsurance purchase than independent non-life insurance companies. The effects of the keiretsu structure also receded when keiretsu groupings' power was weakened after the asset bubble burst and the breakdown of the convoy system in mid 1990s. Consistent with previous studies, Japanese mutual insurers also purchase more reinsurance than stock insurers.
650 4‎$0‎MAPA20080610739‎$a‎Estructura organizativa
650 4‎$0‎MAPA20080552367‎$a‎Reaseguro
650 4‎$0‎MAPA20080573935‎$a‎Seguros no vida
650 4‎$0‎MAPA20080547899‎$a‎Keiretsu
651 1‎$0‎MAPA20080650919‎$a‎Japón
7001 ‎$0‎MAPA20080224059‎$a‎Limpaphayom, Piman
7730 ‎$w‎MAP20077000727‎$t‎The Journal of risk and insurance‎$d‎Nueva York : The American Risk and Insurance Association, 1964-‎$x‎0022-4367‎$g‎05/06/2017 Volumen 84 Número 2 - junio 2017 , p. 599-629