Ownership Structure Across Lines of Property-Casualty Insurance

Previous articleNext article No AccessOwnership Structure across Lines of Property-Casualty InsuranceDavid Mayers and Clifford W. Smith, Jr.David Mayers and Clifford W. Smith, Jr.PDFPDF PLUS Add to favoritesDownload CitationTrack CitationsPermissionsReprints Share onFacebookTwitterLinkedInRedditEmail SectionsMoreDetailsFiguresReferencesCited by The Journal of Law and Economics Volume 31, Number 2Oct., 1988 Sponsored by The University of Chicago Booth School of Business and The University of Chicago Law School Article DOIhttps://doi.org/10.1086/467160 Views: 29Total views on this site Citations: 201Citations are reported from Crossref Copyright 1988 The University of ChicagoPDF download Crossref reports the following articles citing this article:Ching-Yuan Hsiao, Yung-Ming Shiu Risk-sharing function in internal capital markets: Evidence from intragroup reinsurance activities, International Review of Financial Analysis 87 (May 2023): 102634.https://doi.org/10.1016/j.irfa.2023.102634Courtney B. Baggett, Cassandra R. Cole Insurance groups, product diversification, and the role of surplus lines affiliation, Risk Management and Insurance Review 26, no.11 (Sep 2022): 35–56.https://doi.org/10.1111/rmir.12221Franco Fiordelisi, Stefano Grimaldi, Juan Sergio Lopez, Maria Carmela Mazzilis, Ornella Ricci The Beauty of Being Involved: The Case of Cooperative Banks, British Journal of Management 39 (Dec 2022).https://doi.org/10.1111/1467-8551.12698María Rubio‐Misas Analysis of insurers' performance using frontier efficiency and productivity methods. The great contributions by David Cummins and Mary Weiss, Risk Management and Insurance Review 25, no.44 (Nov 2022): 445–489.https://doi.org/10.1111/rmir.12227In Jung Song, Wookjae Heo Improving Insurers' Loss Reserve Error Prediction: Adopting Combined Unsupervised-Supervised Machine Learning Techniques in Risk Management, The Journal of Finance and Data Science 35 (Oct 2022).https://doi.org/10.1016/j.jfds.2022.09.003Frederick Schuh, Lukas Michael Noth Ownership structures and risk taking in the German property-liability insurance market, Journal of Co-operative Organization and Management 10, no.11 (Jun 2022): 100165.https://doi.org/10.1016/j.jcom.2022.100165Licheng Jin, Gene Lai, Chia-Ling Ho An analysis of post-demutualisation in the property–liability insurance industry, The Geneva Papers on Risk and Insurance - Issues and Practice 47, no.22 (May 2021): 279–320.https://doi.org/10.1057/s41288-021-00231-9Mei-Hung Chiu, Jing-Wen Lin Research on Modeling Competence in Science Education from 1991 to 2020 with Cultural and Global Implications, (Jul 2022): 961–1000.https://doi.org/10.1007/978-3-030-83122-6_34Antti Talonen, Jarna Pasanen, Olli-Pekka Ruuskanen Exploring the Co-operative Form's Potential in Crowdfunding: A Non-monetary Perspective, FIIB Business Review 10, no.44 (May 2020): 339–351.https://doi.org/10.1177/2319714520920798Thomas R. Berry-Stölzle, Steven Irlbeck Religiosity and risk taking: Is there a demand-side effect?, Journal of Corporate Finance 71 (Dec 2021): 102117.https://doi.org/10.1016/j.jcorpfin.2021.102117Xueyan Dong, Yijing Cui, Jingyu Gao Strategic deviance and auditor selection, China Journal of Accounting Studies 9, no.11 (Jun 2021): 81–112.https://doi.org/10.1080/21697213.2021.1927769Peter Zweifel, Roland Eisen, David L. Eckles Insurance Demand III: Decisions Under Risk with Diversification Possibilities, (Oct 2021): 141–184.https://doi.org/10.1007/978-3-030-80390-2_5Peter Zweifel, Roland Eisen, David L. Eckles The Supply of Insurance, (Oct 2021): 253–313.https://doi.org/10.1007/978-3-030-80390-2_7Mei-Hung Chiu, Jing-Wen Lin Research on Modeling Competence in Science Education from 1991 to 2020 with Cultural and Global Implications, (Mar 2022): 1–41.https://doi.org/10.1007/978-3-030-37743-4_34-1Ana Isabel González‐Fernández, María Rubio‐Misas, Francisco Ruiz Goal programming to evaluate the profile of the most profitable insurers: an application to the Spanish insurance industry, International Transactions in Operational Research 27, no.66 (Mar 2020): 2976–3006.https://doi.org/10.1111/itor.12787Xiaoying Xie, Charles Lee, Martin Eling Cyber insurance offering and performance: an analysis of the U.S. cyber insurance market, The Geneva Papers on Risk and Insurance - Issues and Practice 45, no.44 (Jun 2020): 690–736.https://doi.org/10.1057/s41288-020-00176-5Antti Talonen, Harri Talonen, Jari Stenvall, Iiro Jussila Communicating the economic value of customer ownership in insurance: A qualitative analysis of annual reports, Risk Management and Insurance Review 23, no.33 (Sep 2020): 243–267.https://doi.org/10.1111/rmir.12157María Rubio-Misas Ownership structure and financial stability: Evidence from Takaful and conventional insurance firms, Pacific-Basin Finance Journal 62 (Sep 2020): 101355.https://doi.org/10.1016/j.pacfin.2020.101355Li‐Ying Huang, Gene C. Lai, Erin Lu, Michael McNamara Auditor quality, audit fees, organizational structure, and risk taking in the US life insurance industry, Risk Management and Insurance Review 23, no.22 (Jun 2020): 151–182.https://doi.org/10.1111/rmir.12145William Wise The Importance of the Efficiency of Mutual Life Insurers: A Comparison to Stock Life Insurers, Folia Oeconomica Stetinensia 20, no.11 (Aug 2020): 474–505.https://doi.org/10.2478/foli-2020-0028Margarida Lima Rego, Joana Campos Carvalho Insurance in Today's Sharing Economy: New Challenges Ahead or a Return to the Origins of Insurance?, (Dec 2019): 27–47.https://doi.org/10.1007/978-3-030-27386-6_2Vincent Y. Chang Does reinsurance purchasing enhance insurers' competitiveness? Evidence from the U.S. property–liability insurance industry, The Geneva Papers on Risk and Insurance - Issues and Practice 44, no.44 (Feb 2019): 595–623.https://doi.org/10.1057/s41288-019-00124-yChing-Yuan Hsiao, Yung-Ming Shiu The effects of business mix on internal and external reinsurance usage, The Geneva Papers on Risk and Insurance - Issues and Practice 44, no.44 (Jul 2019): 624–652.https://doi.org/10.1057/s41288-019-00138-6Ivonne A. Liebenberg, Zhilu Lin The Effect of Diversification under Different Ownership Structures and Economic Conditions: Evidence from the Great Recession, Journal of Risk and Financial Management 12, no.22 (May 2019): 82.https://doi.org/10.3390/jrfm12020082Frauke Bieberstein, Eberhard Feess, José F. Fernando, Florian Kerzenmacher, Jörg Schiller , Journal of Risk and Insurance 86, no.22 ( 2019): 297.https://doi.org/10.1111/jori.12211Yi-hsun Lai, Wen-chang Lin, Liang-wei Kuo Forestalling capital regulation or masking financial weakness? Evidence from loss reserve management in the property–liability insurance industry, Review of Quantitative Finance and Accounting 50, no.22 (May 2017): 481–518.https://doi.org/10.1007/s11156-017-0636-yStephen G. Fier, Andre P. Liebenberg, Ivonne A. Liebenberg Insurer Growth Strategies, Risk Management and Insurance Review 20, no.33 (Dec 2017): 309–337.https://doi.org/10.1111/rmir.12088Xiaoying Xie, Yuling Wang, Guiqin Zhao, Weili Lu Cash holdings between public and private insurers ‒ a partial adjustment approach, Journal of Banking & Finance 82 (Sep 2017): 80–97.https://doi.org/10.1016/j.jbankfin.2017.05.008María Rubio-Misas, Magdalena Fernández-Moreno Solvency surveillance and financial crisis: evidence from the Spanish insurance industry, Spanish Journal of Finance and Accounting / Revista Española de Financiación y Contabilidad 46, no.33 (Feb 2017): 272–297.https://doi.org/10.1080/02102412.2017.1291167, Xin Che, , Andre P. Liebenberg, , Ivonne A. Liebenberg, , Lawrence S. Powell Decomposing diversification effect: evidence from the U.S. property-liability insurance industry, Insurance Markets and Companies 8, no.11 (May 2017): 16–28.https://doi.org/10.21511/ins.08(1).2017.02Jiang Cheng, J. David Cummins, Tzuting Lin O rganizational F orm , O wnership S tructure , and CEO T urnover : E vidence F romthe P roperty -C asualty I nsurance I ndustry, Journal of Risk and Insurance 84, no.11 (May 2015): 95–126.https://doi.org/10.1111/jori.12083Jan Dhaene, Cynthia Van Hulle, Gunther Wuyts, Frederiek Schoubben, Wim Schoutens IS THE CAPITAL STRUCTURE LOGIC OF CORPORATE FINANCE APPLICABLE TO INSURERS? REVIEW AND ANALYSIS, Journal of Economic Surveys 31, no.11 (Aug 2015): 169–189.https://doi.org/10.1111/joes.12129Erin P. Lu, Gene C. Lai, Qingzhong Ma Organizational structure, risk-based capital requirements, and the sales of downgraded bonds, Journal of Banking & Finance 74 (Jan 2017): 51–68.https://doi.org/10.1016/j.jbankfin.2016.10.003Jacob A. Bikker Competition and Scale Economy Effects of the Dutch 2006 Health-Care Insurance Reform, The Geneva Papers on Risk and Insurance - Issues and Practice 42, no.11 (Jan 2017): 53–78.https://doi.org/10.1057/s41288-016-0038-8Juan Zhang Conservatism and Asymmetric Timeliness of Loss Reserves Management in Property-Liability Insurance Industry, SSRN Electronic Journal (Jan 2017).https://doi.org/10.2139/ssrn.2915656Mohammed Alzahrani, William L. Megginson Finance as Worship: A Survey of Islamic Finance Research, SSRN Electronic Journal (Jan 2017).https://doi.org/10.2139/ssrn.2967619Georges Dionne, Scott E. Harrington Insurance and Insurance Markets, SSRN Electronic Journal 1 (Jan 2017).https://doi.org/10.2139/ssrn.2943685Antti Talonen Systematic literature review of research on mutual insurance companies, Journal of Co-operative Organization and Management 4, no.22 (Dec 2016): 53–65.https://doi.org/10.1016/j.jcom.2016.09.003Byeongyong Paul Choi, Jin Park, Chia-Ling Ho Liquidity transformation: an examination of US life insurers, Managerial Finance 42, no.77 (Jul 2016): 618–634.https://doi.org/10.1108/MF-11-2015-0302J. David Cummins, Xiaoying Xie Efficiency and Productivity in the US Property-Liability Insurance Industry: Ownership Structure, Product and Distribution Strategies, (Mar 2016): 113–163.https://doi.org/10.1007/978-1-4899-7684-0_6Damir Filipović, Robert Kremslehner, Alexander Muermann Optimal Investment and Premium Policies Under Risk Shifting and Solvency Regulation, Journal of Risk and Insurance 82, no.22 (Jan 2014): 261–288.https://doi.org/10.1111/jori.12021Alexander Braun, Hato Schmeiser, Przemysław Rymaszewski Stock vs. mutual insurers: Who should and who does charge more?, European Journal of Operational Research 242, no.33 (May 2015): 875–889.https://doi.org/10.1016/j.ejor.2014.09.014Cassandra R. Cole, Stephen G. Fier, James M. Carson, Demetra Andrews The Impact of Insurer Name Changes on The Demand for Insurance, Journal of Risk and Insurance 82, no.11 (Nov 2013): 173–204.https://doi.org/10.1111/j.1539-6975.2013.12018.xWen-Yen Hsu, Carol Troy, Yenyu (Rebecca) Huang The determinants of auditor choice and audit pricing among property-liability insurers, Journal of Accounting and Public Policy 34, no.11 (Jan 2015): 95–124.https://doi.org/10.1016/j.jaccpubpol.2014.09.001Alaa Guidara, Van Son Lai Insurance Firmss Capital Adjustment, Profitability, and Insolvency Risk Under Underwriting Cycles, SSRN Electronic Journal (Jan 2015).https://doi.org/10.2139/ssrn.2675353María Rubio-Misas, Trinidad Gómez Cross-Frontier DEA Methodology to Evaluate the Relative Performance of Stock and Mutual Insurers: Comprehensive Analysis, (Jan 2015): 49–75.https://doi.org/10.1007/978-3-319-21158-9_4Olajumoke Olaosebikan, Mike Adams Prospects for micro-insurance in promoting micro-credit in sub-Sahara Africa, Qualitative Research in Financial Markets 6, no.33 (Nov 2014): 232–257.https://doi.org/10.1108/QRFM-09-2012-0028Pierre Picard Participating Insurance Contracts and the Rothschild-Stiglitz Equilibrium Puzzle, The Geneva Risk and Insurance Review 39, no.22 (Sep 2014): 153–175.https://doi.org/10.1057/grir.2014.9Stephen G. Fier, Andre P. Liebenberg The Market for Directors' and Officers' Insurance, Risk Management and Insurance Review 17, no.22 (Sep 2014): 215–239.https://doi.org/10.1111/rmir.12023 Park Jong Hyun, 장종익 The Organizational Mode of Microfinance and Its Implications for the South Korean Case, THE KOREAN JOURNAL OF COOPERATIVE STUDIES 32, no.11 (Apr 2014): 95–126.https://doi.org/10.35412/kjcs.2014.32.1.005Georges Dionne, Scott E. Harrington Insurance and Insurance Markets, (Jan 2014): 203–261.https://doi.org/10.1016/B978-0-444-53685-3.00005-2Joseph J Tien, Sharon S Yang The Determinants of Life Insurer's Growth for a Developing Insurance Market: Domestic vs Foreign Insurance Firms, The Geneva Papers on Risk and Insurance - Issues and Practice 39, no.11 (Mar 2013): 1–24.https://doi.org/10.1057/gpp.2013.6Zuzana Brokešová, Erika Pastoráková, Marta Martincová FOUNDING WORKS OF INSURANCE ECONOMICS, Acta academica karviniensia 13, no.33 (Sep 2013): 18–30.https://doi.org/10.25142/aak.2013.039Byeongyong Paul Choi, Jin Park, Chia‐Ling Ho Liquidity creation or de‐creation: evidence from US property and liability insurance industry, Managerial Finance 39, no.1010 (Aug 2013): 938–962.https://doi.org/10.1108/MF-11-2012-0243Xia Zhao, Ling Xue, Andrew B. Whinston Managing Interdependent Information Security Risks: Cyberinsurance, Managed Security Services, and Risk Pooling Arrangements, Journal of Management Information Systems 30, no.11 (Aug 2013): 123–152.https://doi.org/10.2753/MIS0742-1222300104Lars Fredrik Andersson, Magnus Lindmark, Mike Adams, Vineet Upreti The determinants of investment returns in the fire insurance industry: the case of Sweden, 1903–1939, Financial History Review 20, no.11 (Jan 2013): 73–89.https://doi.org/10.1017/S0968565012000273Chia-Ling Ho, Gene C. Lai, Jin-Ping Lee Organizational Structure, Board Composition, and Risk Taking in the U.S. Property Casualty Insurance Industry, Journal of Risk and Insurance 80, no.11 (May 2012): 169–203.https://doi.org/10.1111/j.1539-6975.2012.01464.xDavid Mayers, Clifford W. Smith On the Choice of Organizational Form: Theory and Evidence from the Insurance Industry, (Jul 2013): 669–687.https://doi.org/10.1007/978-1-4614-0155-1_24Olajumoke Olaosebikan The Determinants of the Profitability of Micro-Life Insurers in Nigeria, The Geneva Papers on Risk and Insurance - Issues and Practice 38, no.11 (Dec 2012): 140–159.https://doi.org/10.1057/gpp.2012.18Luca Giordano, Cesare Imbriani, Antonio Lopes Analysis of the Italian Banking System Efficiency: A Stochastic Frontier Approach, (Jan 2013): 195–217.https://doi.org/10.1007/978-3-642-35635-3_16Henri Loubergé Developments in Risk and Insurance Economics: The Past 40 Years, (Jul 2013): 1–40.https://doi.org/10.1007/978-1-4614-0155-1_1Etti G. Baranoff, Thomas W. Sager, Bo Shi Capital and Risks Interrelationships in the Life and Health Insurance Industries: Theories and Applications, (Jul 2013): 881–907.https://doi.org/10.1007/978-1-4614-0155-1_30Michael Adams, Lars Fredrik Andersson, Magnus Lindmark, Elena Veprauskaite Competing Models of Organizational Form: Risk Management Strategies and Underwriting Profitability in the Swedish Fire Insurance Market Between 1903 and 1939, The Journal of Economic History 72, no.0404 (Dec 2012): 990–1014.https://doi.org/10.1017/S0022050712000666Markus Schimmer, Matthias Brauer Firm performance and aspiration levels as determinants of a firm's strategic repositioning within strategic group structures, Strategic Organization 10, no.44 (Nov 2012): 406–435.https://doi.org/10.1177/1476127012457983Christian Biener, Martin Eling Organization and efficiency in the international insurance industry: A cross-frontier analysis, European Journal of Operational Research 221, no.22 (Sep 2012): 454–468.https://doi.org/10.1016/j.ejor.2012.03.037Jiang Cheng, Mary A. Weiss The Role of RBC, Hurricane Exposure, Bond Portfolio Duration, and Macroeconomic and Industry-wide Factors in Property-Liability Insolvency Prediction, Journal of Risk and Insurance 79, no.33 (Mar 2012): 723–750.https://doi.org/10.1111/j.1539-6975.2011.01452.xJennifer J. Gaver, Jeffrey S. Paterson, Carl J. Pacini The Influence of Auditor State-Level Legal Liability on Conservative Financial Reporting in the Property-Casualty Insurance Industry, AUDITING: A Journal of Practice & Theory 31, no.33 (Aug 2012): 95–124.https://doi.org/10.2308/ajpt-10292Stephen P D'Arcy, Teresa Lwin Optimal Capital Structure for a Property-Liability Insurer, The Geneva Papers on Risk and Insurance - Issues and Practice 37, no.33 (Jul 2012): 509–538.https://doi.org/10.1057/gpp.2012.25Thomas R. Berry-Stölzle, Andre P. Liebenberg, Joseph S. Ruhland, David W. Sommer Determinants of Corporate Diversification: Evidence From the Property-Liability Insurance Industry, Journal of Risk and Insurance 79, no.22 (Jun 2011): 381–413.https://doi.org/10.1111/j.1539-6975.2011.01423.xYu-Luen Ma, Yayuan Ren Do Publicly Traded Property-Casualty Insurers Cater to the Stock Market?, Journal of Risk and Insurance 79, no.22 (Nov 2011): 415–430.https://doi.org/10.1111/j.1539-6975.2011.01438.xMike Adams, Lars-Fredrik Andersson, Joy Yihui Jia, Magnus Lindmark Mutuality as a control for information asymmetry: A historical analysis of the claims experience of mutual and stock fire insurance companies in Sweden, 1889 to 1939, Business History 53, no.77 (Nov 2011): 1074–1091.https://doi.org/10.1080/00076791.2011.582577Michael K. McShane, Anil Nair, Elzotbek Rustambekov Does Enterprise Risk Management Increase Firm Value?, Journal of Accounting, Auditing & Finance 26, no.44 (Aug 2011): 641–658.https://doi.org/10.1177/0148558X11409160Etti Baranoff, Thomas W Sager The Interplay between Insurers' Financial and Asset Risks during the Crisis of 2007–2009, The Geneva Papers on Risk and Insurance - Issues and Practice 36, no.33 (Jul 2011): 348–379.https://doi.org/10.1057/gpp.2011.15Andreas Milidonis, Konstantinos Stathopoulos Do U.S. Insurance Firms Offer the "Wrong" Incentives to Their Executives?, Journal of Risk and Insurance (May 2011): no–no.https://doi.org/10.1111/j.1539-6975.2011.01418.xXiaoying Xie, Weili Lu, Joseph Reising, Mark Hoven Stohs Demutualisation, Control and Efficiency in the U.S. Life Insurance Industry, The Geneva Papers on Risk and Insurance - Issues and Practice 36, no.22 (Mar 2011): 197–225.https://doi.org/10.1057/gpp.2011.6C. Forman, A. Gron Vertical Integration and Information Technology Investment in the Insurance Industry, Journal of Law, Economics, and Organization 27, no.11 (Sep 2009): 180–218.https://doi.org/10.1093/jleo/ewp023Steve M. Miller Managerial Discretion and Corporate Governance in Publicly Traded Firms: Evidence From the Property-Liability Insurance Industry, Journal of Risk and Insurance (Apr 2011): no–no.https://doi.org/10.1111/j.1539-6975.2011.01415.xEnya He, David W. Sommer CEO Turnover and Ownership Structure: Evidence From the U.S. Property-Liability Insurance Industry, Journal of Risk and Insurance 65 (Apr 2011): no–no.https://doi.org/10.1111/j.1539-6975.2011.01416.xJacob A. Bikker, Janko Gorter Restructuring of the Dutch Nonlife Insurance Industry: Consolidation, Organizational Form, and Focus, Journal of Risk and Insurance 78, no.11 (Feb 2011): 163–184.https://doi.org/10.1111/j.1539-6975.2010.01369.xPatricia Born, M. Martin Boyer Claims-Made and Reported Policies and Insurer Profitability in Medical Malpractice, Journal of Risk and Insurance 78, no.11 (Feb 2011): 139–162.https://doi.org/10.1111/j.1539-6975.2010.01370.xChristian Biener, Martin Eling The Performance of Microinsurance Programs: A Data Envelopment Analysis, Journal of Risk and Insurance 78, no.11 (Jan 2011): 83–115.https://doi.org/10.1111/j.1539-6975.2010.01404.xCassandra R. Cole, Enya He, Kathleen A. McCullough, David W. Sommer Separation of Ownership and Management: Implications for Risk-Taking Behavior, Risk Management and Insurance Review 14, no.11 (Feb 2011): 49–71.https://doi.org/10.1111/j.1540-6296.2010.01192.xByeongyong Paul Choi, Elyas Elyasiani Foreign-owned insurer performance in the US property-liability markets, Applied Economics 43, no.33 (Feb 2011): 291–306.https://doi.org/10.1080/00036840802552353Damir Filipovic, Robert Kremslehner, Alexander Muermann Optimal Investment and Premium Policies Under Risk Shifting and Solvency Regulation, SSRN Electronic Journal (Jan 2011).https://doi.org/10.2139/ssrn.1466803Andreas Milidonis, Konstantinos Stathopoulos Do U.S. Insurance Firms Offer the 'Wrong' Incentives to Their Executives?, SSRN Electronic Journal (Jan 2011).https://doi.org/10.2139/ssrn.1757777Michael K. McShane, Larry A. Cox, Tao Zhang Risk Allocation Across the Enterprise: Evidence from the Insurance Industry, SSRN Electronic Journal (Jan 2011).https://doi.org/10.2139/ssrn.1829067J. David Cummins, Mary A. Weiss Analyzing Firm Performance in the Insurance Industry Using Frontier Efficiency and Productivity Methods, SSRN Electronic Journal (Jan 2011).https://doi.org/10.2139/ssrn.1997468Kenneth A. Kim, Piman Limpaphayom, Shanhong Wu IPO performance under low information asymmetry and low agency conflicts: The case of demutualized insurers, Corporate Ownership and Control 8, no.2-52-5 (Jan 2011): 525–550.https://doi.org/10.22495/cocv8i2c5p4Hubert Tchakoute-Tchuigoua Is there a difference in performance by the legal status of microfinance institutions?, The Quarterly Review of Economics and Finance 50, no.44 (Nov 2010): 436–442.https://doi.org/10.1016/j.qref.2010.07.003OTGONTSETSEG ERHEMJAMTS, J. TYLER LEVERTY The Demise of the Mutual Organizational Form: An Investigation of the Life Insurance Industry, Journal of Money, Credit and Banking 42, no.66 (Aug 2010): 1011–1036.https://doi.org/10.1111/j.1538-4616.2010.00318.xByeongyong Paul Choi The U.S. Property and Liability Insurance Industry: Firm Growth, Size, and Age, Risk Management and Insurance Review 13, no.22 (Sep 2010): 207–224.https://doi.org/10.1111/j.1540-6296.2010.01181.xAigbe Akhigbe, Anna D. Martin, Melinda L. Newman Information Asymmetry Determinants of Sarbanes-Oxley Wealth Effects, Financial Management 39, no.33 (Sep 2010): 1253–1272.https://doi.org/10.1111/j.1755-053X.2010.01111.xMartin Eling, Michael Luhnen Efficiency in the international insurance industry: A cross-country comparison, Journal of Banking & Finance 34, no.77 (Jul 2010): 1497–1509.https://doi.org/10.1016/j.jbankfin.2009.08.026Leo de Haan, Jan Kakes Are non-risk based capital requirements for insurance companies binding?, Journal of Banking & Finance 34, no.77 (Jul 2010): 1618–1627.https://doi.org/10.1016/j.jbankfin.2010.03.008Enya He, David W. Sommer Separation of Ownership and Control: Implications for Board Composition, Journal of Risk and Insurance 77, no.22 (Mar 2010): 265–295.https://doi.org/10.1111/j.1539-6975.2010.01351.xDavid Mayers, Clifford W. Smith Compensation and Board Structure: Evidence From the Insurance Industry, Journal of Risk and Insurance 77, no.22 (Mar 2010): 297–327.https://doi.org/10.1111/j.1539-6975.2010.01352.xMartin Eling, Michael Luhnen Frontier Efficiency Methodologies to Measure Performance in the Insurance Industry: Overview, Systematization, and Recent Developments, The Geneva Papers on Risk and Insurance - Issues and Practice 35, no.22 (Apr 2010): 217–265.https://doi.org/10.1057/gpp.2010.1Michael K. McShane, Larry A. Cox, Richard J. Butler Regulatory competition and forbearance: Evidence from the life insurance industry, Journal of Banking & Finance 34, no.33 (Mar 2010): 522–532.https://doi.org/10.1016/j.jbankfin.2009.08.016Otgontsetseg Erhemjamts, J. Tyler Leverty The Demise of the Mutual Organizational Form: An Investigation of the Life Insurance Industry, SSRN Electronic Journal (Jan 2010).https://doi.org/10.2139/ssrn.1558536Xia Zhao, Ling Xue, Andrew B. Whinston Managing Interdependent Information Security Risks: A Study of Cyberinsurance, Managed Security Service and Risk Pooling, SSRN Electronic Journal (Jan 2010).https://doi.org/10.2139/ssrn.1593137Richard D. MacMinn, Yayuan Ren Mutual Versus Stock Insurers: A Synthesis of Theory and Empirical Work, SSRN Electronic Journal (Jan 2010).https://doi.org/10.2139/ssrn.1697779Michael Luhnen Determinants of Efficiency and Productivity in German Property-Liability Insurance: Evidence for 1995–2006, The Geneva Papers on Risk and Insurance - Issues and Practice 34, no.33 (Jul 2009): 483–505.https://doi.org/10.1057/gpp.2009.10Attiea Marie, Ananth Rao, Hossein Kashani Cost efficiency and value driver analysis of insurers in an emerging economy, Managerial and Decision Economics 30, no.44 (Jun 2009): 265–280.https://doi.org/10.1002/mde.1454Qiming Wang, James A. Ligon The Underpricing of Insurance IPOs, Financial Management 38, no.22 (Jun 2009): 301–322.https://doi.org/10.1111/j.1755-053X.2009.01037.xMichael K. McShane, Larry A. Cox Issuance Decisions and Strategic Focus: The Case of Long-Term Care Insurance, Journal of Risk and Insurance 76, no.11 (Feb 2009): 87–108.https://doi.org/10.1111/j.1539-6975.2009.01289.xLuca Giordano, Antonio Lopes Measuring the Efficiency of the Banking System in a Dualistic Economy: Evidence from the Italian Case, (Mar 2009): 185–209.https://doi.org/10.1007/978-3-7908-2112-3_9Etti G Baranoff, Thomas W Sager The Impact of Mortgage-Backed Securities on Capital Requirements of Life Insurers in the Financial Crisis of 2007–2008, The Geneva Papers on Risk and Insurance - Issues and Practice 34, no.11 (Dec 2008): 100–118.https://doi.org/10.1057/gpp.2008.40Andre P. Liebenberg, David W. Sommer Effects of Corporate Diversification: Evidence From the Property-Liability Insurance Industry, Journal of Risk & Insurance 75, no.44 (Dec 2008): 893–919.https://doi.org/10.1111/j.1539-6975.2008.00290.xB. Elango, Yu-Luen Ma, Nat Pope An Investigation Into the Diversification-Performance Relationship in the U.S. Property-Liability Insurance Industry, Journal of Risk & Insurance 75, no.33 (Sep 2008): 567–591.https://doi.org/10.1111/j.1539-6975.2008.00275.xRoy Mersland, Reidar Øystein Strøm Performance and trade‐offs in Microfinance Organisations—Does ownership matter?, Journal of International Development 20, no.55 (Jul 2008): 598–612.https://doi.org/10.1002/jid.1432Simone Krummaker, J.-Matthias Graf von der Schulenburg Die Versicherungsnachfrage von Unternehmen: Eine Empirische Untersuchung der Sachversicherungsnachfrage deutscher Unternehmen, Zeitschrift für die gesamte Versicherungswissenschaft 97, no.11 (Feb 2008): 79–97.https://doi.org/10.1007/s12297-008-0004-zPeter Zweifel, Christoph Auckenthaler On the Feasibility of Insurers' Investment Policies, Journal of Risk & Insurance 75, no.11 (Mar 2008): 193–206.https://doi.org/10.1111/j.1539-6975.2007.00254.xYu-Luen Ma, B. Elango When Do International Operations Lead to Improved Performance? An Analysis of Property-Liability Insurers, Risk Management & Insurance Review 11, no.11 (Mar 2008): 141–155.https://doi.org/10.1111/j.1540-6296.2008.00135.xRoy Mersland, R. Øystein Strøm Myths in microfinance, (Jan 2008): 207–227.https://doi.org/10.1016/S1745-8862(08)03010-0Patricia Born, M. Martin Boyer Claims-Made and Reported Policies and Insurer Profitability in Medical Malpractice, SSRN Electronic Journal (Jan 2008).https://doi.org/10.2139/ssrn.1133592Etti G. Baranoff, Thomas W. Sager, Thomas Shively Rebalancing Target Capital in the Financial Sector: The Case of Life Insurance, SSRN Electronic Journal (Jan 2008).https://doi.org/10.2139/ssrn.1215187Martin Eling, Michael Luhnen Frontier Efficiency Methodologies to Measure Performance in the Insurance Industry: Overview and New Empirical Evidence, SSRN Electronic Journal (Jan 2008).https://doi.org/10.2139/ssrn.1237662Philip Booth, Alan D. Morrison Regulatory Competition and Life Insurance Solvency Regulation in the European Union and United States, North American Actuarial Journal 11, no.44 (Oct 2007): 23–41.https://doi.org/10.1080/10920277.2007.10597482Mahmoud A. El-Gamal Mutuality as an antidote to rent-seekingShariah arbitrage in Islamic finance, Thunderbird International Business Review 49, no.22 (Mar 2007): 187–202.https://doi.org/10.1002/tie.20139Kathleen A. McCullough, Karen Epermanis An Analysis of Property-Casualty Insurance Company Defense Expenditures, SSRN Electronic Journal (Jan 2007).https://doi.org/10.2139/ssrn.1065996Yayuan Ren, Qixiang Sun, Tong Yu Do Underwriting Cycles Affect Property Casualty Insurer Asset Allocation? Stocks Versus Mutuals, SSRN Electronic Journal (Jan 2007).https://doi.org/10.2139/ssrn.982749Georges Dionne, Robert Gagné, Abdelhakim Nouira, J. David Cummins Determinants of Insurers' Performance in Risk Pooling, Risk Management, and Financial Intermediation Activities, SSRN Electronic Journal (Jan 2007).https://doi.org/10.2139/ssrn.988991Steven W. Pottier, David W. Sommer Opaqueness in the Insurance Industry: Why Are Some Insurers Harder to Evaluate than Others?, Risk Management Insurance Review 9, no.22 (Sep 2006): 149–163.https://doi.org/10.1111/j.1540-6296.2006.00091.xChris O'Brien The Downfall of Equitable Life in the United Kingdom: The Mismatch of Strategy and Risk Management, Risk Management Insurance Review 9, no.22 (Sep 2006): 189–204.https://doi.org/10.1111/j.1540-6296.2006.00093.xDennis K. K. Fan, Raymond W. So, Jason J. Yeh Analyst Earnings Forecasts for Publicly Traded Insurance Companies, Review of Quantitative Finance and Accounting 26, no.22 (Mar 2006): 105–136.https://doi.org/10.1007/s11156-006-7212-1Chao‐Chun Leng Stationarity and stability of underwriting profits in property‐liability insurance, The Journal of Risk Finance 7, no.11 (Jan 2006): 38–48.https://doi.org/10.1108/15265940610637799James A. Ligon, Paul D. Thistle The Formation of Mutual Insurers in Markets with Adverse Selection, The Journal of Business 78, no.22 (Mar 2005): 529–556.https://doi.org/10.1086/42763