| dc.contributor | 風管系 | |
| dc.creator (作者) | 許永明 | |
| dc.creator (作者) | Shiu, Yung-Ming;Hsiao, Ching-Yuan | |
| dc.date (日期) | 2024-04 | |
| dc.date.accessioned | 24-May-2024 11:00:25 (UTC+8) | - |
| dc.date.available | 24-May-2024 11:00:25 (UTC+8) | - |
| dc.date.issued (上傳時間) | 24-May-2024 11:00:25 (UTC+8) | - |
| dc.identifier.uri (URI) | https://nccur.lib.nccu.edu.tw/handle/140.119/151234 | - |
| dc.description.abstract (摘要) | We examine the effects of internal capital transfer and external capital issuance on asset risk-taking using a database containing detailed information on capital. Consistent with capital buffer theory, we find that external capital issuance is positively related to risk-taking adjustment. We also find that the funds received via internal capital transfers are negatively related to risk-taking adjustment among affiliated insurers with lower capitalization and negative profitability, underscoring the monitoring role of groups with affiliates' risk-taking behavior. Our results emphasize the sharp contrast between internal capital transfer and external capital issuances on affiliates’ risk-taking. | |
| dc.format.extent | 106 bytes | - |
| dc.format.mimetype | text/html | - |
| dc.relation (關聯) | International Review of Economics and Finance, Vol.92, pp.503-519 | |
| dc.subject (關鍵詞) | Internal capital transfer; External capital issuance; Risk-taking; Capital buffer theory; Internal capital markets | |
| dc.title (題名) | Internal versus external capital markets and risk-taking | |
| dc.type (資料類型) | article | |
| dc.identifier.doi (DOI) | 10.1016/j.iref.2024.02.033 | |
| dc.doi.uri (DOI) | https://doi.org/10.1016/j.iref.2024.02.033 | |
