| Demand for reinsurance： Evidence from Australian insurers |
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| 基金项目： | Support from Australian Research Council Discovery Grant DP0345036 and from CAPES, Brazil is gratefully acknowledged. Luiz Augusto Ferreira Carneiro, Ph.D., assistant professor, Department of Accounting and Actuarial Science, University of Sao Paulo; research fields： insurance, pension funds and private health care. |
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| 摘 要： | Reinsurance is widely recognised as important in insurer risk and capital management. This paper examines the factors that determine insurer demand for reinsurance using Australian data. The Australian situation is interesting because of the tax imputation system and the prudential regulations that were in force during the period of the study. As far as the authors are aware, this is the first paper to empirically analyse the demand for reinsurance in Australia. A panel-data set （1996-2001） is used, which provides 543 observations. The authors provide a careful approach to econometric diagnostic testing and the choice of the most appropriate panel-data model and the authors show how failure to do so may generate misleading results. Based on a robust estimation procedure, the authors find strong evidence of a positive relation between variables related to company size and the demand for reinsurance in Australia. The impact of leverage, taxes, and return on investments are not statistically significant.
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| 关 键 词： | 保险公司 澳大利亚 证据 税收制度 保险风险 实证分析 数据模型 诊断测试 |
Demand for reinsurance： Evidence from Australian insurers |
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| Authors: | Luiz Augusto Ferreira Carneiro Michael Sherrist |
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| Institution: | [1]Department of Accounting and Actuarial Science, University of Sao Paulo, Sato Paulo 05508-900, Brasil [2]Australian School of Business, Sydney 29052, Australia |
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| Abstract: | insurer risk management reinsurance demand panel-data estimation |
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| Keywords: | insurer risk management reinsurance demand panel-data estimation |
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