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Title: What Motivates Insurers to use Derivatives: Evidence from the United Kingdom Life Insurance Industry
Authors: Shiu, Yung-Ming
Contributors: 風管系
Date: 2011-04
Issue Date: 2015-01-07 16:54:40 (UTC+8)
Abstract: Using firm-specific variables that proxy for the motivations of life insurers' decision to participate in derivative transactions, we examine existing theories of corporate hedging behaviour. Our findings support the evidence of previous research that risk management and scale factors explain the use of derivatives. We observe a substitution effect that insurers use on-balance-sheet hedging through structuring their assets and liabilities to reduce price risks. 
Relation: Geneva Papers on Risk & Insurance,36(2),186-196
Data Type: article
DOI 連結:
Appears in Collections:[風險管理與保險學系] 期刊論文

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