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
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