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來源文獻資料
摘要
外文摘要
引文資料
題名:
檢視保險公司在無立即糾正措施下投機主義之研究
書刊名:
風險管理學報
作者:
張志宏
作者(外文):
Chang, Chih-hung
出版日期:
2014
卷期:
16:1
頁次:
頁41-58
主題關鍵詞:
風險基礎資本額
;
立即糾正措施
;
弱體保險公司
;
風險貼補
;
資產風險
;
RBC
;
Prompt corrective action
;
Weak insurers
;
Risk-subsidy
;
Asset risk
原始連結:
連回原系統網址
相關次數:
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:0
共同引用:
3
點閱:113
台灣自2004年實施保險業風險基礎資本額制度,但缺乏弱體保險公司進行立即糾正措施,形成所謂的「金融監理寬容」現象。本研究內容係檢驗國內弱體壽險公司是否利用安定基金制度及在金融監理寬容期間,增加資產風險來提高隱含選擇權價值傾向。本研究發展弱體公司在風險性質產投資具有非常顯著正相關,符合道德風險、風險補貼與反射效應假學說,其次發現高風險商品會增加資產風險,以及主管機關接管、金嵥海嘯衝擊與外商公司為大股東者,會使公司風險性質產投資比率降低,證實無法規監管成本、商品風險、金融集團大股東之監控能力與外在經濟因素確實會顯著影響公司的投資決策。
以文找文
The Financial Supervisory Commission R.O.C. adopted insurer risk-based capital (RBC) formula that became effective in January 2004. However, the regulatory forbearance is derived since regulators haven’t taken any prompt corrective action to deal with weak insurers even if their capitals fell below specified levels. In this paper we emphasize the opportunistic behaviors of weak insurers under regulatory forbearance. We investigate that weak insurers would have greater risk-taking incentives due to guarantee fund with fixed rate. Our evidences show that a very strong support for weak (and high leveraged) insurers exists with high tendency in asset risk. It is consistent with moral hazard, risk-subsidy and reflection effect theories. We also find that regulatory pressure, product risk, the monitoring power of financial group and external economic factors affect the investment decision of weak insurers very well.
以文找文
期刊論文
1.
Baranoff, Etti、Sager, Thomas(2003)。The Relations among Organization and Distribution Forms and Capital and Asset Risk Structures in the Life Insurance Industry。The Journal of Risk and Insurance,70(3),375-400。
2.
Baranoff, Etti G.、Papadopoulos, Savas、Sager, Thomas W.(2007)。Capital and Risk Revisited: A Structural Equation Model Approach for Life Insurers。The Journal of Risk and Insurance,74(3),653-681。
3.
Gaver, Jennifer J.、Paterson, Jeffrey S.(2004)。Insurers Manipulate Loss Reserves to Mask Solvency Problems?。Journal of Accounting and Economics,37,393-416。
4.
Shim, Jeungbo(2010)。Capital-Based regulation, portfolio risk, and capital determination: Empirical evidence from the U.S. property-liability insurers。Journal of Banking & Finance,34,2450-2461。
5.
Nektarios, Milton(2010)。Deregulation, Insurance Supervision and Guaranty Funds。The Geneva Papers,35,452-468。
6.
Yang, Shang-Yin、Hwang, Ya-Wen、Chang, Shih-Chieh Bill(2012)。The Bankruptcy Cost of the Life Insurance Industry under Regulatory Forbearance: An Embedded Option Approach。Approach, North American Actuarial Journal,16(4),513-523。
7.
Garcia-Marco, Teresa、Robles-Fernandez, M. Dolores(2008)。Risk-Taking Behavior and Ownership in the Banking Industry: The Spanish Evidence。Journal of Economics and Business,60,332-354。
8.
Lin, Wen-Chang、Lai, Yi-Hsun、Powers, Michael R.(2014)。The Relationship Between Regulatory Pressure And Insurer Risk Taking。The Journal of Risk and Insurance,81(2),271-301。
9.
Van Hoose, David(2007)。Theories of Bank Behavior under Capital Regulation。Journal of Banking and Finance,31,3680-3697。
10.
Baranoff, Etti G.、Sager, Thomas W.(2002)。The Relations among Asset Risk, Product Risk, and Capital in the Life Insurance Industry。Journal of Banking and Finance,26,1181-1197。
11.
Jacques, Kevin、Nigro, Peter(1997)。Risk-Based Capital, Portfolio Risk, and Bank Capital: A Simultaneous Equations Approach。Journal of Economics and Business,49(6),533-547。
12.
Merton, Robert C.(1977)。An Analytic Derivation of the Cost of Deposit Insurance and Loan Guarantees: An Application of Modern Option Pricing Theory。Journal of Banking & Finance,1(1),3-11。
13.
Cummins, J. David、Harrington, Scott E.、Klein, Robert W.(1995)。Insolvency Experience, Risk-based Capital, and Prompt Corrective Action in Property- Liability Insurance。Journal of Banking and Finance,19(3/4),511-527。
14.
Saunders, Anthony、Strock, Elizabeth、Travlos, Nickolaos G.(1990)。Ownership Structure, Deregulation, and Bank Risk Taking。The Journal of Finance,45(2),643-654。
15.
Chalmers, John M. R.、Dann, Larry Y.、Harford, Jarrad(2002)。Managerial Opportunism? Evidence from Directors' and Officers' Insurance Purchases。The Journal of Finance,57(2),609-636。
16.
Cummins, J. David、Sommer, David W.(1996)。Capital and Risk in Property-Liability Insurance Markets。Journal of Banking and Finance,20(6),1069-1092。
17.
Lee, Soon-Jae、Mayers, David、Smith. Jr., Clifford W.(1997)。Guaranty Funds and Risk-taking Evidence from the Insurance Industry。Journal of Financial Economics,44,3-24。
研究報告
1.
Ren, Yayuan、Schmit, Joan T.(2009)。Franchise Value, Competition and Insurer Risk-taking。
學位論文
1.
藍尉倫(2008)。所有權結構與銀行的風險承擔(碩士論文)。逢甲大學。
延伸查詢
圖書
1.
張士傑(2014)。臺灣保險市場發展、監理與評論。台灣金融研訓院。
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