政大機構典藏-National Chengchi University Institutional Repository(NCCUR):Item 140.119/117185
English  |  正體中文  |  简体中文  |  Post-Print筆數 : 27 |  Items with full text/Total items : 113325/144300 (79%)
Visitors : 51189090      Online Users : 887
RC Version 6.0 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.
Scope Tips:
  • please add "double quotation mark" for query phrases to get precise results
  • please goto advance search for comprehansive author search
    •  Adv. Search
    Home ‧ Login ‧ Upload ‧ Help ‧ About ‧ Administer Goto mobile version


    Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/117185


    Title: NTEREST RATE DERIVATIVES, RISK EXPOSURE AND PERFORMANCE
    利率衍生性商品、風險曝露水準與公司績效
    Authors: 劉德諠
    許永明
    王綺楓
    Contributors: 風管系
    Keywords: 利率衍生性商品;風險曝露水準;公司績效
    Interest rate derivatives;Interest rate risk exposure;Performance
    Date: 2017-05
    Issue Date: 2018-05-17 16:48:23 (UTC+8)
    Abstract: 本文的目的在於：探討壽險公司利率衍生性商品的使用，與其利率風險曝露與公司績效的關係。我們建立結構模型，利用兩階段最小平方法，檢視壽險公司使為衍生金融工具對其利率風險曝露的影響，並分析公司的績效水準，是否與衍生金融工具的使用有關。結果顯示：整體而言，有使用且使用比較多利率衍生性商品的壽險公司，會有比較高的利率風險曝露與績效。我們也進行穩健性測試，主要變數之間的關係，仍然不變。根據本文所得到的結果，我們在文末提供數個實務意涵，供保險公司與主管機關參考。
    The purpose of this paper is to examine the relations between life insurers’ use of interest rate derivatives and their risk exposure and performance. Using structural equations and a two-stage least squares approach, we examine whether and how interest rate derivative use affects interest rate exposure and its relationship to firm performance. Overall, our results show that the use of interest rate derivatives is positively related to both interest rate risk exposure and firm performance. Several robustness checks have been conducted and results remain qualitatively unchanged. Based on our results, we offer several implications for practitioners and policymakers.
    Relation: 經濟論文, Vol.45, No.3 , pp351 - 383
    Data Type: article
    DOI link: http://dx.doi.org/10.29628/AEP
    DOI: 10.29628/AEP
    Appears in Collections:[Department of Risk Management and Insurance] Periodical Articles

    Files in This Item:

    File Description SizeFormat
    T416529.pdf1840KbAdobe PDF2262View/Open


    All items in 政大典藏 are protected by copyright, with all rights reserved.


    社群 sharing

    著作權政策宣告 Copyright Announcement
    1.本網站之數位內容為國立政治大學所收錄之機構典藏，無償提供學術研究與公眾教育等公益性使用，惟仍請適度，合理使用本網站之內容，以尊重著作權人之權益。商業上之利用，則請先取得著作權人之授權。
    The digital content of this website is part of National Chengchi University Institutional Repository. It provides free access to academic research and public education for non-commercial use. Please utilize it in a proper and reasonable manner and respect the rights of copyright owners. For commercial use, please obtain authorization from the copyright owner in advance.

    2.本網站之製作，已盡力防止侵害著作權人之權益，如仍發現本網站之數位內容有侵害著作權人權益情事者，請權利人通知本網站維護人員(nccur@nccu.edu.tw)，維護人員將立即採取移除該數位著作等補救措施。
    NCCU Institutional Repository is made to protect the interests of copyright owners. If you believe that any material on the website infringes copyright, please contact our staff(nccur@nccu.edu.tw). We will remove the work from the repository and investigate your claim.
    DSpace Software Copyright © 2002-2004  MIT &  Hewlett-Packard  /   Enhanced by   NTU Library IR team Copyright ©   - Feedback