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https://ah.lib.nccu.edu.tw/handle/140.119/72648
題名: | What Motivates Insurers to use Derivatives: Evidence from the United Kingdom Life Insurance Industry | 作者: | Shiu, Yung-Ming 許永明 |
貢獻者: | 風管系 | 日期: | 四月-2011 | 上傳時間: | 7-一月-2015 | 摘要: | 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. | 關聯: | Geneva Papers on Risk & Insurance,36(2),186-196 | 資料類型: | article | DOI: | http://dx.doi.org/10.1057/gpp.2011.4 |
Appears in Collections: | 期刊論文 |
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