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https://doi.org/10.1080/1331677X.2019.1653211

Asymmetric adjustment of insurance profits: evidence from the U.S. non-life insurance markets

Shi-jie Jiang ; Department of Risk Management and Insurance, Hunan University, Changsha, China
Feiyun Xiang ; Department of Risk Management and Insurance, Hunan University, Changsha, China
Ning Zhang ; Department of Risk Management and Insurance, Hunan University, Changsha, China

Puni tekst: engleski, pdf (2 MB) str. 2780-2797 preuzimanja: 42* citiraj
APA 6th Edition
Jiang, S., Xiang, F. i Zhang, N. (2019). Asymmetric adjustment of insurance profits: evidence from the U.S. non-life insurance markets. Economic research - Ekonomska istraživanja, 32 (1), 2780-2797. https://doi.org/10.1080/1331677X.2019.1653211
MLA 8th Edition
Jiang, Shi-jie, et al. "Asymmetric adjustment of insurance profits: evidence from the U.S. non-life insurance markets." Economic research - Ekonomska istraživanja, vol. 32, br. 1, 2019, str. 2780-2797. https://doi.org/10.1080/1331677X.2019.1653211. Citirano 31.03.2020.
Chicago 17th Edition
Jiang, Shi-jie, Feiyun Xiang i Ning Zhang. "Asymmetric adjustment of insurance profits: evidence from the U.S. non-life insurance markets." Economic research - Ekonomska istraživanja 32, br. 1 (2019): 2780-2797. https://doi.org/10.1080/1331677X.2019.1653211
Harvard
Jiang, S., Xiang, F., i Zhang, N. (2019). 'Asymmetric adjustment of insurance profits: evidence from the U.S. non-life insurance markets', Economic research - Ekonomska istraživanja, 32(1), str. 2780-2797. https://doi.org/10.1080/1331677X.2019.1653211
Vancouver
Jiang S, Xiang F, Zhang N. Asymmetric adjustment of insurance profits: evidence from the U.S. non-life insurance markets. Economic research - Ekonomska istraživanja [Internet]. 2019 [pristupljeno 31.03.2020.];32(1):2780-2797. https://doi.org/10.1080/1331677X.2019.1653211
IEEE
S. Jiang, F. Xiang i N. Zhang, "Asymmetric adjustment of insurance profits: evidence from the U.S. non-life insurance markets", Economic research - Ekonomska istraživanja, vol.32, br. 1, str. 2780-2797, 2019. [Online]. https://doi.org/10.1080/1331677X.2019.1653211

Sažetak
Insurance profits in non-life insurance markets display a large fluctuation that may make it hard for insurance companies to control their operating volatility. By taking into account asymmetries in dynamics of insurance profits, this paper provides empirical evidence of the visualised cycles in insurance markets and relevant underwriting strategies of insurance companies. The results hint at the possible existence of overconfidence in underwriting activities when the underwriting result turns bad. Compared with the whole insurance industry, insurance companies engage more speculative behaviour in underwriting activities on the general liability insurance. For regulation purposes, the government should maintain more disciplined underwriting policies of insurance companies in different insurance lines in order to avoid irrational pricing strategies and improve the economic efficiency of insurance supply.

Ključne riječi
Insurance; underwriting profits; bounds test; ADL threshold cointegration; overconfidence

Hrčak ID: 229586

URI
https://hrcak.srce.hr/229586

Posjeta: 68 *