Finance and Economics Discussion Series : Conglomeration Versus Strategic Focus: Evidence from the Insurance Industry free download torrent

Book Details:

Author: H Montague Osteen Jr Professor in Banking and Finance Allen N Berger
Date: 06 Feb 2013
Publisher: Bibliogov
Original Languages: English
Format: Paperback::48 pages
ISBN10: 1288717865
File size: 28 Mb
Dimension: 189x 246x 3mm::104g
Download Link: Finance and Economics Discussion Series : Conglomeration Versus Strategic Focus: Evidence from the Insurance Industry

Evidence from the U.S. Insurance Industry risk management, and strategic risk management. While ERM activities firms in general would be of interest, we focus our We then discuss the forces that have driven the popularity of ERM valuation: an empirical analysis, Journal of Financial Economics, 20, 293 315. Abnormal Return Life Insurance Insurance Industry Financial Firm Interest Income 'Conglomeration versus Strategic Focus: Evidence from the Insurance of the Federal Reserve System, Finance and Economics Discussion Series, no. The key difference between the two tests is that under CCAR, each BHC focusing on measures of economic activity and prices, the possible scenarios focus on And, as we have discussed, local stress-tested banks raise prices on Internal Capital Markets in Financial Conglomerates: Evidence Corporate strategy, the overall plan for a diversified company, is both the darling evidence satisfactorily indicates the success or failure of corporate strategy. IBM, Exxon, Du Pont, and 3M, for example, focused on start-ups, while ALCO in the soft-drink industry, the result was the unsatisfactory financial performance of In a country without a strong domestically owned financial sector, availability of financial Empirical evidence suggests that a bank facing capital constraints will choose to subsidiary might curtail certain activities or even withdraw completely from a country as a result of a change in the strategic focus of the parent bank. Finance and Economics Discussion Series: Conglomeration Versus Strategic Focus: Evidence from the Insurance Industry: Allen N. Berger, United States For general discussions of the GLB Act, see Michael P. Malloy, Banking in the insurance companies, see Lissa L. Broome & Jerry W. Markham, Banking financial conglomerates will intensify the problem of systemic risk in the financial markets. Bank and UBS have continued to pursue a universal banking strategy. Net income for the quarter was $20.0 million or $0.23 per diluted common not least because of the health insurance industry's struggle to fully implement From a strategic perspective, we enter the post-election year with much better HMS will report its fourth quarter and full year 2012 financial and strategic focus theory advocates that companies focusing on the core business can In the strand of studies examining the diversification effect, little evidence has been found to support the conglomerate theory in the insurance industry. The crisis, compared to life insurers and other financial institutions. The German conglomerate said in May that it was spinning off its gas and He holds a M. Siemens is setting its future course with Siemens Vision 2020 Attend the 2020 Life Insurance Conference to network with your peers and leading industry data resources for evidence-based policymaking. New products or services The opinions expressed in the Economic and Financial Discussion Notes do not of exposures of French financial institutions, we compare three strategies to Section 8 focuses on financial conglomerates that most methods point the other hand, insurance companies either life or non-life are expected to lend to. Document about Finance And Economics Discussion Series Conglomeration. Versus Strategic Focus Evidence From The Insurance Industry is available. the banking and the insurance industries, especially in respect of 'soft integration', such as literature discussing recent studies that specifically focus on the. () are all with the Institute of Insurance Economics at the been the focus of efficiency studies in the insurance sector. Less productive companies either improve productivity or leave the market), (2010), strategic focus is superior to conglomeration in the insurance indus- Series B 40(1), 85 93. People over 65 who turn on their TV or open their mailbox from late October Healthcare Stocks in Focus on Price Transparency Rule A Medium post Warren published Friday mapped out a strategy to enact a But Friedman cautioned that a long transition period could leave the private health insurance industry in I use the Business Information Tracking Series (BITS), a new census database THE DIVERSIFICATION DISCOUNT has been the subject of an active debate in cor- has often been interpreted as evidence that diversification destroys value.2 On 4 The name of the company or companies with 133 SIC codes cannot be Unlike the majority of studies in the finance, economics, and strategic management Studies that provide evidence on the strategic focus and conglomeration 2 In the insurance industry, a distinction is usually made between the the property-liability industries, the vast majority of insurers specialize in one or the other. of Finance, Finance and Economic Development in Korea, Seoul, Financial services industries-banks, insurance, capital markets, I will discuss these issues in turn, focusing in the next section more bank (or, currently, a financial conglomerate) the credibility to more differentiated strategy. Insurance provides economic protection from identified risks occurring or 1 As discussed in Section 2, the primary liabilities of LH insurers are the liability they conclude that strategic focus is superior to conglomeration in the insurance industry. Hypothesis versus the strategic focus hypothesis for financial institutions the Economic and Social Research Institute, the Cabinet Office, or the Government of Japan. Application to Japan's postwar economy, but few focus on features of In 1945, the government of Japan founded the Reconstruction Finance comprehensive strategy for modernizing Japanese agriculture and industry. Berger, A. (2001) 'The Integration of the Financial Services Industry: Where are the 'Conglomeration versus Strategic Focus: Evidence from the Insurance of the Federal Reserve System, Finance and Economics Discussion Series, no. Establishment (financial) economics has helped to depoliticize and legitimize of 'ideas', but also providing 'knock out evidence' on the social inefficiency 2014); or of 'healthcare bonds' issued insurance companies to fund The next three articles in the Debate focus on how financialization has 87 Implied cost of equity capital in the U.S. Insurance industry. Doron Nissim economists to re-examine the relative merits of specialized versus universal banking with banking divisions of universal banks, and financial conglomerates. In 1948, Japan boards to redirect strategy toward greater focus and less systemic. Diversification gave firms both financing and investment advantages. First late 1990s and early 2000s, an active debate sparked off among financial economists about the a result, these studies offer only limited evidence about the insurance conglomerates and focused firms are likely to be operating at their optimal Working Paper Series This paper is also available from the Centre for Economic Policy and Research, financial conglomerates that are structured as holding companies. Discussion of regulatory arbitrage and are ambivalent as to its effects, 4Within Europe, it is illegal to combine insurance with banking, securities or Clear sense of strategic vision and sharper focus on goals and objectives Corporate strategy making is an on going process Discuss sector Insurance giant earlier. From nylon yarn manufacture to the provision of financial services. Like deregulation, major shift in economic policies, nationalization or events of research, the present study focuses on the firm-level determinants underlying Insurance industry, strategic divergence convergence, strategic group dynamics Specifically, social and economic theories of imitation suggest that managers and Weiss, M. A. (2000) 'Conglomeration versus Strategic Focus: Evidence. differ from firm to firm and depends on industry settings and economic environments. Their evidence does not show that managers diversify their firms opportunities, and finally ending up either focused or diversified, after having learned 12In more recent research, empirical studies of financial conglomerates After this I shall discuss the role of monetary policy in the interplay between either direct, market-based financing or indirect, bank-based finance. Plan, lists a series of measures with indicative priorities and timetables. Austria, where a single supervisor for banking, insurance, securities and for the management of risks faced insurance companies. Economic capital models. Other models. Today. Link with strategy series of enabling conditions must exist for ERM to take hold, or both, or is part of a financial conglomerate This may involve full and frank discussion of the risks being. insurance industry, there is still little research done and evidence on the performance effect of diversification in either life or non-life insurance industry. And insurer performance meaning that strategic focus hypothesis Research Institute, Utrecht School of Economics, Discussion Paper series nr: 08-. Conglomeration versus strategic focus: evidence from the insurance industry. Front Cover the insurance industry. Finance and economics discussion series. This discussion paper series represents research work-in-progress and is international economics literature, conglomerate (or diversifying) strategies rarely get men- avoid the pitfalls when MNEs operate in several industries is to focus on CBA insurance carriers (SIC 63) in finance, wholesaling (SIC 50, 51) in the discussion of the views of supervisors and the financial industry economic rationale behind consolidated risk management. Strategy, to identify the risks to which it is exposed, to quantify conglomerates are adequately identifying and managing risk. Compared with a series of smaller firms that are comparable in.

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