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Does reinsurance purchasing enhance insurers' competitiveness? Evidence from the U.S. property-liability insurance industry

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<dc:creator>Chang, Vincent Y.</dc:creator>
<dc:date>2019-10-01</dc:date>
<dc:description xml:lang="es">Sumario: This study investigates whether firms that purchase more strategic reinsurance ex ante could enhance their competitiveness in the output market ex post for the U.S. property-liability insurance industry. The empirical results show that reinsurance purchasing does not increase insurers' competitiveness ex post, which contradicts the prediction of the strategic commitment hypothesis. A plausible explanation is that the U.S. property-liability industry tends to be a completely competitive market and not an oligopoly. In addition, reinsurance purchasing seems to be regarded as an insurer's operational characteristic and not to be treated as a strategic demand for sending an aggressive signal on the output market to its competitors</dc:description>
<dc:identifier>https://documentacion.fundacionmapfre.org/documentacion/publico/es/bib/169418.do</dc:identifier>
<dc:language>eng</dc:language>
<dc:rights xml:lang="es">InC - http://rightsstatements.org/vocab/InC/1.0/</dc:rights>
<dc:subject xml:lang="es">Mercado de reaseguros</dc:subject>
<dc:subject xml:lang="es">Competitividad</dc:subject>
<dc:subject xml:lang="es">Seguro de daños patrimoniales</dc:subject>
<dc:subject xml:lang="es">Seguros de empresas</dc:subject>
<dc:type xml:lang="es">Artículos y capítulos</dc:type>
<dc:title xml:lang="es">Does reinsurance purchasing enhance insurers' competitiveness? Evidence from the U.S. property-liability insurance industry</dc:title>
<dc:relation xml:lang="es">En: Geneva papers on risk and insurance : issues and practice. - Geneva : The Geneva Association, 1976- = ISSN 1018-5895. - 01/10/2019 Volumen 44 Número 4 - octubre 2019 , p.595-623</dc:relation>
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