Book ChapterDOI
Ownership Structure across Lines of Property-Casualty Insurance
David Mayers,Clifford W. Smith +1 more
TLDR
The range of ownership structures within the insurance industry is perhaps the broadest of any major industry as mentioned in this paper, including Lloyds associations, stock companies that employ the standard corporate form, and mutuals and reciprocals that are more like cooperatives where customer and ownership functions are merged.Abstract:
The range of ownership structures within the insurance industry is perhaps the broadest of any major industry. Included are Lloyds associations, where insurance contracts are offered by individual underwriters, stock companies that employ the standard corporate form, and mutuals and reciprocals that are more like cooperatives where customer and ownership functions are merged.read more
Citations
More filters
Journal ArticleDOI
Ownership structure and voting on antitakeover amendments
TL;DR: This paper found that institutional investors and other blockholders vote more actively on antitakeover amendments than non-blockholders, and opposition by institutions is greater when the proposal appears to harm shareholders.
Journal ArticleDOI
The efficiency of financial institutions: A review and preview of research past, present and future
TL;DR: This paper reviewed past research on the topic of financial institution efficiency, surveys the contributions in this special issue, and suggests how future research on this important topic might proceed, and suggest how future studies on financial institutions efficiency might proceed.
Journal ArticleDOI
Understanding New Cooperative Models: An Ownership–Control Rights Typology
TL;DR: In this paper, the authors examine new agricultural cooperative organizational models from an ownership rights perspective and propose a typology of discrete organizational models, in which the traditional cooperative structure and the investor-oriented firm are characterized as polar forms.
Journal ArticleDOI
Consolidation and efficiency in the US life insurance industry
TL;DR: In this paper, the authors examined the relationship between mergers and acquisitions, efficiency, and scale economies in the US life insurance industry and found that acquired firms achieve greater efficiency gains than firms that have not been involved in mergers or acquisitions.
Journal ArticleDOI
Price, Financial Quality, and Capital Flows in Insurance Markets
TL;DR: In this article, the authors developed a model of price determination in insurance markets, which predicts that the price of insurance, measured by the ratio of premiums to discounted losses, is inversely related to insurer default risk.
References
More filters
Journal ArticleDOI
Theory of the firm: Managerial behavior, agency costs and ownership structure
TL;DR: In this article, the authors draw on recent progress in the theory of property rights, agency, and finance to develop a theory of ownership structure for the firm, which casts new light on and has implications for a variety of issues in the professional and popular literature.
Journal ArticleDOI
Separation of ownership and control
Eugene F. Fama,Michael C. Jensen +1 more
TL;DR: The authors argue that the separation of decision and risk-bearing functions observed in large corporations is common to other organizations such as large professional partnerships, financial mutuals, and nonprofits. But they do not consider the role of decision agents in these organizations.
Book
The Problem of Social Cost
TL;DR: In this paper, it is argued that the suggested courses of action are inappropriate, in that they lead to results which are not necessarily, or even usually, desirable, and therefore, it is recommended to exclude the factory from residential districts (and presumably from other areas in which the emission of smoke would have harmful effects on others).
Journal ArticleDOI
Multivariate Statistical Methods
I. G. Evans,Donald F. Morrison +1 more
TL;DR: In this article, a text designed to make multivariate techniques available to behavioural, social, biological and medical students is presented, which includes an approach to multivariate inference based on the union-intersection and generalized likelihood ratio principles.
Book
Multivariate statistical methods
TL;DR: In this article, a text designed to make multivariate techniques available to behavioural, social, biological and medical students is presented, which includes an approach to multivariate inference based on the union-intersection and generalized likelihood ratio principles.
Related Papers (5)
Contractual Provisions, Organizational Structure, and Conflict Control in Insurance Markets
David Mayers,Clifford W. Smith +1 more