The objective of this article is to propose a review of 85 empirical papers examining the
relationships between insurance and economic development, that is, the insurance‐growth …

This paper is an effort to understand the source of the crisis in insurance that has recently
disrupted product and service markets in the United States. From press accounts, the crisis …

Significant attention has focused on the determinants of corporate insurance purchases.
While this analysis generally involves observable firm characteristics, its implications have …

For corporations facing tax‐function convexity, hedging lowers expected tax liabilities,
thereby providing an incentive to hedge. We use simulation methods to investigate convexity …

A casualty loss produces option-like characteristics in assets because their value depends
on further discretionary investment. With risky debt in the firm's capital structure, the …

Using data on directors' and officers' insurance policies gathered from a sample of Canadian
firms, this article examines the determinants of firms' demand for D&O insurance. Firms with …

Determinants of risk attitudes of individuals are of great interest in the growing area of
behavioral economics that focuses on the individual attributes, psychological or otherwise …

Using data collected from the annual statements of 571 life insurers, separate models are
estimated for the probability and degree of use of futures and options by life insurers for the …

Since changes in the firm-specific or unsystematic risks faced by a corporation have no
effect on firm value, corporate insurance purchases might seem unwarranted. However …

The choice of financial structure is appropriately viewed as a complex, multidimensional
decision by insurer management. Specific attention is given to traditional theories regarding …