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Erscheinungsjahr: 
2020
Quellenangabe: 
[Journal:] Entrepreneurial Business and Economics Review (EBER) [ISSN:] 2353-8821 [Volume:] 8 [Issue:] 3 [Year:] 2020 [Pages:] 205-219
Verlag: 
Krakow University of Economics, Centre for Strategic and International Entrepreneurship, Krakow
Zusammenfassung: 
Objective: The objective of the article is to investigate how foreign capital influenced the development of insurance markets in EU-15 countries. Research Design & Methods: A critical review of literature is undertaken, contents of factors which influence development of insurance markets are analysed, and econometric methods are applied. A panel model is constructed and results of its estimation are analysed. Findings: Insurance markets in particular countries develop under the influence of many factors. The share of foreign insurance companies is treated as a structural factor. There is previous research into this subject was conducted, whose results do not confirm a clear impact of foreign capital on the insurance market’s development. The study indicates that the development of insurance markets - measured with the penetration rate and with the ratio of insurance density - is affected by shares of foreign capital in life insurance companies. Implications & Recommendations: To verify the hypothesis concerning the impact of foreign capital on the development of insurance markets, scholarship requires further studies of another group of countries (insurance markets). Contribution & Value Added: This study will contribute to the development of theories concerning factors of the development of insurance markets.
Schlagwörter: 
international finance
insurance market
insurance companies
foreign capital
panel data model
random estimation
JEL: 
F3
F4
G2
O04
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