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政大典藏 > College of Commerce > Department of Risk Management and Insurance > Periodical Articles > Item 140.119/73114

Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/73114

Title:	Corporate liquidity: evidence from the United Kingdom life insurance industry
Authors:	許永明許永明
Contributors:	風管系
Date:	2006-12
Issue Date:	2015-01-22 16:13:06 (UTC+8)
Abstract:	This study analyses the extent and effects of macroeconomic and firm-specific factors on insurer liquidity in the context of UK life companies with panel data for the period 1985 to 2002. Ordinary least squares regressions, static and dynamic panel data models are estimated. Econometric tests indicate a preference for the random effects estimation procedure over other alternatives. The results indicate that the life office liquidity is an increasing function of equity returns, free asset ratio, termination rate, and claims ratioand a decreasing function of pension reserves-to-total reserves. Also, it is found that mutual companies tend to hold more liquid assets than do stock companies.
Relation:	Applied Economics Letters,13(15),993-998.
Data Type:	article
DOI link:	http://dx.doi.org/10.1080/13504850500425790
DOI:	10.1080/13504850500425790
Appears in Collections:	[Department of Risk Management and Insurance] Periodical Articles

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