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Technical University of Crete
Technical University of Crete
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| URI: | http://purl.tuc.gr/dl/dias/6FB0F660-FAAB-4564-892E-FF3AD3094150 | ||
| Year | 2013 | ||
| Type of Item | Peer-Reviewed Journal Publication | ||
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| Bibliographic Citation | Pasiouras F, Gaganis C., "Regulations and soundness of insurance firms: International evidence", Journal of Business Research, Vol. 66, no. 5, Pages 632–642, May 2013. doi: 10.1016/j.jbusres.2012.09.023 https://doi.org/10.1016/j.jbusres.2012.09.023 | ||
| Appears in Collections |
This paper provides the first cross-country study on the association between firms' soundness and regulatory policies in the insurance industry. Measuring solvency with an accounting based measure of distance to default, namely the Z-score, we find that the power of the supervisory authorities, and regulations related to both technical provisions and investments have an impact on soundness that is robust to controls for firm-specific and country-specific factors. In contrast, corporate governance and internal control rules do not influence soundness. Similarly, capital requirements do not appear to have a robust impact on soundness.
Copyright © DIAS 2013
