Globalization,political institutions,financial liberalization,and performance of the insurance industry |
| |
Affiliation: | 1. NECE-UBI and Univesity of Beira Interior, Management and Economics Department, Rua Marquês d’Ávila e Bolama, 6201-001, Portugal |
| |
Abstract: | This paper investigates the impacts of globalization, political institutions, and financial liberalization on the performance and risk-taking of insurance firms covering 1324 individual firms in 30 selected OECD countries. We find that greater globalization and a stable political institution lead insurance companies to exhibit a better performance—i.e., insurers adjust their strategies while being aware of institutional changes. By contrast, financial liberalization has an inverse impact on insurance company performance. Thus, greater globalization and a stable political environment both drive less risk-taking for insurers. These findings are particularly important to insurance markets’ competitors and national policymakers. |
| |
Keywords: | Insurance performance Globalization Political institutions Financial liberalization OECD |
本文献已被 ScienceDirect 等数据库收录! |
|