|
EconStor >
Goethe-Universität Frankfurt am Main >
Fachbereich Wirtschaftswissenschaften, Universität Frankfurt a. M. >
Working Paper Series: Finance and Accounting, Universität Frankfurt a. M. >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/23444
|
| | |
Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Laux, Christian | | en_US |
| dc.contributor.author | | Muermann, Alexander | | en_US |
| dc.date.accessioned | | 2009-01-29T16:05:46Z | | - |
| dc.date.available | | 2009-01-29T16:05:46Z | | - |
| dc.date.issued | | 2007 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/23444 | | - |
| dc.description.abstract | | Mutual insurance companies and stock insurance companies are different forms of organized risk sharing: policyholders and owners are two distinct groups in a stock insurer, while they are one and the same in a mutual. This distinction is relevant to raising capital, selling policies, and sharing risk in the presence of financial distress. Up-front capital is necessary for a stock insurer to offer insurance at a fair premium, but not for a mutual. In the presence of an owner-manager conflict, holding capital is costly. Free-rider and commitment problems limit the degree of capitalization that a stock insurer can obtain. The mutual form, by tying sales of policies to the provision of capital, can overcome these problems at the potential cost of less diversified owners. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | | | en_US |
| dc.relation.ispartofseries | | Working paper series / Johann-Wolfgang-Goethe-Universität Frankfurt am Main, Fachbereich Wirtschaftswissenschaften : Finance & Accounting 180 | | en_US |
| dc.subject.jel | | G22 | | en_US |
| dc.subject.jel | | G32 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | ownership structure | | en_US |
| dc.subject.keyword | | insurance | | en_US |
| dc.subject.keyword | | owner-manager conflict | | en_US |
| dc.subject.keyword | | capital | | en_US |
| dc.subject.keyword | | default | | en_US |
| dc.subject.stw | | Versicherung , Privatversicherung , Eigentümerstruktur , Versicherungsprämie , Eigenkapital , Betriebliche Liquidität , Theorie | | en_US |
| dc.title | | Mutual versus Stock Insurers : Fair Premium, Capital, and Solvency | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 54353345X | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | - |
| Appears in Collections: | | Working Paper Series: Finance and Accounting, Universität Frankfurt a. M.
|
| Files in This Item:
| |
| File |
Description |
Size | Format |
| 1523.pdf | | 351.33 kB | Adobe PDF |
|
| No. of Downloads:
| |
Counter Stats
|
Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.
|