کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
7355444 | 1477787 | 2018 | 28 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Systemic risk, interconnectedness, and non-core activities in Taiwan insurance industry
ترجمه فارسی عنوان
ریسک سیستماتیک، همبستگی و فعالیت های غیر متمرکز در صنعت بیمه تایوان
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
چکیده انگلیسی
We employ three measuresâ marginal expected shortfall, SRISK index, and Conditional Value-at-Riskâ to assess an insurer's exposure and contribution to systemic risk during the period 2005-2015. We then examine the primary factors posing the systemic risk and find that both non-core activities and interconnectedness of insurers are the significant and primary drivers. Our results differ from the findings in the U.S. insurance sector where firm size is the primary driver of insurers' exposure and contribution to systemic risk, as the findings in the global insurance sector where leverage is a significant driver of insurers' exposure, and both leverage and non-core activities are primary drivers of insurers' contribution to systemic risk. Our results further indicate that the size and significance of the interconnectedness effect on systemic risk increase as the share of insurance sector within the financial industry rises.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: International Review of Economics & Finance - Volume 55, May 2018, Pages 273-284
Journal: International Review of Economics & Finance - Volume 55, May 2018, Pages 273-284
نویسندگان
Carolyn W. Chang, Xiaodan Li, Edward M.H. Lin, Min-Teh Yu,