Determinants of participatory rights insurance: evidence from the New Zealand life insurance industry

M. B. Adams

Applied Financial Economics, 1999, vol. 9, issue 5, 483-490

Abstract: Drawing a framework from the financial economics literature, this study examines the determinants of participatory rights policies in the New Zealand (NZ) life insurance industry. Using data for the period 1988-1993, a fixed-effects regression model was estimated. Consistent with expectations, the empirical results indicate that participatory rights life insurance are associated with mutuals, large and lowly leveraged life insurance companies, and entities with less underwriting risk. A sensitivity test also indicated that participatory rights insurance was related to the age of life insurance firms. The predictions of contracting theory thus receive empirical support.

Date: 1999
References: View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.tandfonline.com/doi/abs/10.1080/096031099332140 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:apfiec:v:9:y:1999:i:5:p:483-490

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/RAFE20

DOI: 10.1080/096031099332140

Access Statistics for this article

Applied Financial Economics is currently edited by Anita Phillips

More articles in Applied Financial Economics from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().