Organizational Structure and Performance: Evidence From the Nonlife Insurance Industry in Japan
Organizational Structure and Performance: Evidence From the Nonlife Insurance Industry in Japan
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组织结构和绩效：来自日本非寿险行业的证据
DOI：
10.1046/j.0022-4367.2003.00073.x
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发表时间：
2003
影响因子：
1.9
通讯作者：
P. Limpaphayom
中科院分区：
文献类型：
--
作者：
Gene C. Lai;P. Limpaphayom
本研究探讨了日本非寿险（财产伤亡）保险业的组织结构对公司绩效、激励问题和财务决策的影响。与独立股票和相互保险公司相比，属于六个横向经连集团之一的股份公司的费用和自由现金流水平较低。与独立保险公司相比，Keiretsu 保险公司的盈利能力和损失率也更高。由于样本量有限，有一些证据表明，相互保险公司比股票保险公司拥有更高水平的自由现金流、更高的投资收入和更低的财务杠杆。总体而言，经验证据表明每种结构都有其自身的比较优势。 《风险与保险杂志》版权所有。
This study examines the impact of organizational structure on firm performance, incentive problems, and financial decisions in the Japanese nonlife (property-casualty) insurance industry. Stock companies that belong to one of six horizontal keiretsu groups have lower expenses and lower levels of free cash flow than independent stock and mutual insurance companies. Keiretsu insurers also have higher profitability and higher loss ratios than independent insurers. With a limited sample size, there is some evidence that mutual insurers have higher levels of free cash flows, higher investment incomes, and lower financial leverage than their stock counterparts. Overall, empirical evidence suggests that each structure has its own comparative advantage. Copyright The Journal of Risk and Insurance.
影响因子：
8
作者：
S. Titman;R. Wessels
通讯作者：
S. Titman;R. Wessels
公共投资和股票价格：日本的案例
DOI：
--
发表时间：
2017
期刊：
影响因子：
--
作者：
Takuya Matsuyama;Tomomi Miyazaki;Tomomi Miyazaki;Tomomi Miyazaki (co-author: Kazuki Hiraga and Masafumi Kozuka);Tomomi Miyazaki
通讯作者：
Tomomi Miyazaki