臺灣人文及社會科學引文索引資料庫系統

:::

詳目顯示

回上一頁
第 1 筆 / 總合 1 筆   第一頁 上一頁 下一頁 最後一頁
/1頁
題名：核保週期對損失準備金管理影響之研究：英國產險公司之實證
作者：邱美菁
作者(外文)：Mei-ChingChiu
校院名稱：國立成功大學
系所名稱：企業管理學系碩博士班
指導教授：許永明
學位類別：博士
出版日期：2013
主題關鍵詞：核保週期；損失準備金；產險公司；Underwriting Cycle；Loss Reserve；Non-life Insurance
原始連結：連回原系統網址new window
相關次數：
  • 被引用次數被引用次數:期刊(0) 博士論文(0) 專書(0) 專書論文(0)
  • 排除自我引用排除自我引用:0
  • 共同引用共同引用:0
  • 點閱點閱:18
本研究目的主要為探討核保週期對損失準備金管理影響，利用英國產險公司的資料，探究英國產險市場是否存在核保週期，以及核保週期與損失準備金管理之間是否存在多重關係。研究結果發現英國產險市場核保週期於2001年可能存在結構轉變，且不同險種核保週期有所差異。由於盈餘管理、核保週期與損失準備金之間存在顯著關係，因此保險公司可能會為避免發生些微損失而低估損失準備金。此外，研究顯示保險公司在軟市場會比較傾向低估準備金，核保週期與盈餘管理之間則無顯著關係。最後，依據研究的結果，提出一些建議供保險公司與監理機構參考。
The purpose of this study was to investigate the impact of the underwriting cycle on loss reserve management. We used the United Kingdom non-life insurance industry firm-years data during 1985 to 2006 to examine the multiple relations between loss reserving management and the underwriting cycle. We found that the an underwriting cycle exists with a structure change possibly caused in 2001. Moreover, we examined the relation between earning management, underwriting cycle, and loss reserve management. Our results show that the insurers are more likely to understate reserves to avoid small losses. We also found that the insurers intend to understate reserves in the soft market. There are no significant interaction effects between underwriting cycle and earning management. Our findings give some meaningful suggestions to insurers and regulators.
A. M. Best, 1991. Best’s insolvency study: Property-casualty insurers 1969-1990. A.M. Best Company, Inc., Oldwick, NJ.
Beaver, W. H., McNichols, M. F., Nelson, K. K., 2003. Management of the loss reserve accrual and the distribution of earnings in the property-casualty insurance industry. Journal of Accounting and Economics, 35(3), 347–376.
Browne, M. J., Ma, Y. L., Wang, P., 2007. Stock option compensation and managerial discretion in the insurance industry. Working paper.
Burgstahler, D., Dichev, I., 1997. Earnings management to avoid earnings decreases and losses. Journal of Accounting and Economics, 24(1), 99–126.
Chen, R., Wong, K. A., Lee, H. C., 1999. Underwriting cycles in Asia. Journal of Risk and Insurance, 66(1), 29–47.
Cummins, J. D., Harrington, S. E., Klein, R. W., 1991. Cycles and crises in property-casualty insurance: Causes and implications for public policy. Journal of Insurance Regulation, 10(1), 50–93.
Datamonitor, 2007. Non-life insurance industry profile: United Kingdom. Datamonitor Plc.
Daykin, C. Cresswell, C., 2002. The regulation of non-life insurance in the United Kingdom. The UK Government Actuary's Department, 3, 1–29.
Degeorge, F., Patel, J., Zeckhauser, R., 1999. Earnings management to exceed thresholds. Journal of Business, 72(1), 1–33.
Derrig, R. A., Ostaszewski, K. M., 1997. Managing the tax liability of a property-liability insurance company. Journal of Risk and Insurance, 64(4), 695–711.
Eckles, D. L., Halek, M., He, E., Sommer, D. W., Zhang, R., 2011. Earnings smoothing, executive compensation, and corporate governance: evidence from the property-liability insurance industry. Journal of Risk and Insurance, 78(3). 761–790.
Fung, H. G., Lai, G. C., Patterson, G. A., Witt, R. C., 1998. Underwriting Cycles in Property and Liability Insurance: An Empirical Analysis of Industry and By-Line Data. The Journal of Risk and Insurance, 65(4), 539–561.
Gaver, J. J., Paterson, J. S., 2004. Do insurers manipulate loss reserves to mask solvency problems? Journal of Accounting and Economics, 37(3), 393–416.
Gaver, J. J., Paterson, J. S., 1999. Managing insurance company financial statements to meet regulation and tax reporting goals. Contemporary Accounting Research, 16(2), 207–241.
Grace, E. V., 1990. Property-liability insurer reserve errors: A theoretical and empirical analysis. Journal of Risk and Insurance, 57(1), 28–46.
Grace, F. M., Leverty, J. T., 2010. Political cost incentives for managing the property-liability insurer loss reserve. Journal of Accounting Research, 48(1), 21–49.
Graham, J. R., Rogers, D. A., 2002. Do firms hedge in response to tax incentives? Journal of Finance, 57(2), 815–830.
Haan, L. d., Kakes, J., 2010. Are non-risk based capital requirements for insurance companies binding? Journal of Banking and Finance, 34(7), 1618–1627.
Harrington, S. E., Danzon, P. M., 1994. Price cutting in liability insurance markets. Journal of Business, 67(4), 511-538.
Harrington, S. E., Danzon, P. M., Epstein, A. J., 2008. Crises in medical malpractice insurance: Evidence of excessive price-cutting in the preceding soft market. Journal of Banking and Finance, 32(1), 157-169.
Jones, J. A., 2008. Managing the Underwriting Cycle: Six Critical Actions, Jones Strategy Consulting, Inc, http://www.jonesstrategyconsulting.com/
Ke, B., Petroni, K. R., Shackelford, D. A., 2000. The impact of state taxes on self-insurance. Journal of Accounting and Economics, 30(1), 99-122.
Lamm-Tennant, J., Weiss, M. A., 1997. International Insurance Cycles: Rational expectations/ institutional intervention. Journal of Risk and Insurance, 64(3), 415-439.
Leng, C. C., 2006. Stationary and stability of underwriting profits in property- liability insurance. Journal of Risk Finance, 7(1), 38-48.
Leuz, C., Nanda, D., Wysocki, P. D., 2003. Earnings management and investor protection: an international comparison. Journal of Financial Economics, 69(3), 505–527.
Liu, Jin-Long, 2003. The estimation of loss reserve and earning management for property-liability industry in Taiwan, Master's thesis, Department of Insurance in Feng Chia University, Taichung, Taiwan.
Meyers, Glenn G., 2007. The common shock model for correlated insurance losses. Variance, 1(1), 40–52.
Petroni, K. R., 1992. Optimistic reporting in the property-casualty insurance industry. Journal of Accounting and Economics, 15(4), 485-508.
Petroni, K. R., Beasley, M., 1996. Errors in accounting estimates and their relation to audit firm type. Journal of Accounting Research, 34(1), 151-71.
Petroni, K. R., Ryan, S. G. Wahlen, J. R., 2000. Discretionary and non-discretionary revisions of loss reserves by property-casualty insurers: Differential implications for future profitability, risk and market value. Review of Accounting Studies, 5(2), 95-125.
Petroni, K. R., Shackelford, D. A., 1995. Taxation, regulation, and the organizational structure of property–casualty insurers. Journal of Accounting and Economics, 20(3), 229-253.
Pagan, A. R., Sossounov, K. A., 2003. A simple framework for analyzing bull and bear markets, Journal of Applied Econometrics, 18(1), 23-46.
Shiu, Yung-Ming, Adams, A., Ou, K. L., 2008. Reserve Manipulation and its determinants: Evidence from the United Kingdom Non-life Insurance Industry, working paper.
Smith, C. W., Stulz, R. M., 1985. Optimal hedging policies. Journal of Financial and Quantitative Analysis, 19(2), 127–140.
Swiss Re, 2008. Non-life Claims Reserving: Improving on a Strategic Challenge. Sigma 2008, 1, 1–32.
Weiss, M., 1985. A multivariate analysis of loss reserving estimates in property-liability insurers, Journal of Risk and Insurance, 52(3), 199-221.
 
 
 
 
第一頁 上一頁 下一頁 最後一頁 top
QR Code
QRCODE

臺灣人文及社會科學引文索引資料庫

目前上線人數：675（臺灣：665，外國：10） ／ 本年度總使用人次：2156165 ／ 訪客人次（自102年09月）：67965993
國家圖書館著作權聲明 Copyright © 2013 All rights reserved.
本館地址: 100201臺北市中山南路20號． 本館地圖及交通資訊．
總機：(02)23619132．最佳瀏覽解析度為1024x768以上