Embedded value reporting quality and credit risk: evidence from life insurance companies

Tsung-Kang Chen, Yijie Tseng*, Yu Shun Hung, Chun Chi Lin

*此作品的通信作者

研究成果: Article同行評審

2 引文 斯高帕斯(Scopus)

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.

原文American English
頁(從 - 到)96-125
期刊Accounting and Business Research
51
發行號1
早期上線日期6 5月 2020
DOIs
出版狀態Published - 2月 2021

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