haku: @journal_id 789 / yhteensä: 95
viite: 66 / 95
| Tekijä: | Cummins, D. Danzon, P. |
| Otsikko: | Price, financial quality, and capital flows in insurance markets |
| Lehti: | Journal of Financial Intermediation
1997 : JAN, VOL. 6:1, p. 3-38 |
| Asiasana: | FINANCIAL INTERMEDIARIES INSURANCE MARKETS |
| Kieli: | eng |
| Tiivistelmä: | This paper develops a model of price determination in insurance markets. Insurance is provided by firms that are subject to default risk. Demand for insurance is inversely related to insurer default risk and is imperfectly price elastic because of information asymmetries and private information in insurance markets. The model predicts that the price of insurance, measured by the ratio of premiums to discounted losses, is inversely related to insurer default risk and that insurers have optimal capital structures. |
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