標題: | Embedded value reporting quality and credit risk: evidence from life insurance companies |
作者: | Chen, Tsung-Kang Tseng, Yijie Hung, Yu-Shun Lin, Chun-Chi 管理科學系 Department of Management Science |
關鍵字: | embedded value (EV);EV report disclosure quality;life insurance company;credit risk;bond yield spread |
公開日期: | 1-一月-1970 |
摘要: | This study investigates the effects of releasing embedded value (EV) reports and EV report disclosure quality on life insurance companies' credit risks, using issuer credit rating and bond yield spread data from 2001 to 2010. Results show that releasing an EV report and EV report disclosure quality are both significantly and negatively associated with life insurance companies' credit risks. In addition, the CFO Forum (2004a, 2004b, European Embedded Value) significantly strengthens the negative effect of releasing an EV report on firm credit risk while the subprime crisis has the opposite effect in Europe. Finally, the results are robust to endogeneity issues and different model specifications of fixed effects. |
URI: | http://dx.doi.org/10.1080/00014788.2020.1749979 http://hdl.handle.net/11536/154353 |
ISSN: | 0001-4788 |
DOI: | 10.1080/00014788.2020.1749979 |
期刊: | ACCOUNTING AND BUSINESS RESEARCH |
起始頁: | 0 |
結束頁: | 0 |
顯示於類別: | 期刊論文 |