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| Tekijä: | Beaver, W. H. McNichols, M. F. Nelson, K. K. |
| Otsikko: | Management of the loss reserve accrual and the distribution of earnings in the property-casualty insurance industry |
| Lehti: | Journal of Accounting & Economics
2003 : AUG, VOL. 35:3, p. 347-376 |
| Asiasana: | Earnings function Human capital Property finance Insurance |
| Kieli: | eng |
| Tiivistelmä: | The authors document that property-casualty insurers with small positive earnings understate loss reserves relative to insurers with small negative earnings. Furthermore, loss reserves are managed across the entire distribution earnings, with the most income-increasing reserve accruals reported by small profit firms, and the most income-decreasing reserve accruals reported by firms with the highest earnings. The authors find that public companies and mutuals manage loss reserves to avoid losses, but that private companies do not. They also find evidence of reserve management to avoid losses by financially healthy and distressed firms. |
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