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https://ah.lib.nccu.edu.tw/handle/140.119/78218
題名: | What Determines Lloyd`s Market Syndicates` Unsolicited Ratings? | 作者: | Shiu, Yung-Ming 許永明 |
貢獻者: | 風管系 | 日期: | Apr-2015 | 上傳時間: | 2-Sep-2015 | 摘要: | Based upon a sample of Lloyd`s syndicates covering the years 2006-2010, we examine the determinants of (i) the likelihood of being rated and (ii) the rating that is likely to be assigned by Standard and Poor`s, from which we document evidence of selectivity bias. Larger, more profitable and liquid syndicates are found to be more likely to receive a rating, and indeed, to have higher ratings. Syndicates with more reinsurance dependence are more likely to be rated, but less likely to obtain a higher rating. Our findings indicate that the `signalling` hypothesis dominates the `uncertainty reduction` theory. | 關聯: | Geneva Papers on Risk & Insurance - Issues & Practice, 40(2), 316-333 | 資料類型: | article | DOI: | http://dx.doi.org/10.1057/gpp.2014.36 |
Appears in Collections: | 期刊論文 |
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