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The effects of selection and moral hazard in additional health insurance in a universal healthcare system: evidence from Taiwan
In this study, we investigate the effect of both voluntary private health insurance and compulsory social health insurance on the utilization of...
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Technology investment and insurer efficiency
We examine the role of technology expense and asset data items with insurer efficiency. We show that insurers increasing investment in technology...
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Do insurance stress tests matter? Evidence from the EU-wide insurance stress tests
This study examines market reactions to EU-wide insurance stress tests, providing the first analysis of this nature for the insurance sector....
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Sharpe-optimal volatility futures carry
Holding volatility as part of an institutional portfolio is often found not to benefit the overall characteristics of the resulting portfolio. This...
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ESG index performance: European evidence
ESG investing and its financial performance is nowadays a hot topic luring the attention of all economic agents. All developed financial markets...
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Cost mitigation of factor investing in emerging equity markets
At the beginning of factor investing research, the investment universe concentrated on developed markets and transaction costs were paid little...
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ESG risk and returns implied by demand-based asset pricing models
We investigate how changes in demand for Environment, Social and Governance (ESG) characteristics affect stock prices. We consider three scenarios:...
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Optimal trend-following rules in two-state regime-switching models
Academic research on trend-following investing has almost exclusively focused on testing various trading rules’ profitability. However, all existing...
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The effect of corporate risk management on cyber risk mitigation: Evidence from the insurance industry
We examine how corporate risk management can be used to address a firm’s vulnerability to cyber risk. We use a large, novel dataset on cyber risk and...
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Wealth and familiarity bias: sin stocks investment in Europe
Our study investigates the relationship between European society’s wealth and how they invest in sin stocks—stocks of listed firms involved in...
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Crypto-asset regulatory landscape: a comparative analysis of the crypto-asset regulation in the UK and Germany
The purpose of this research paper is to compare and analyse how crypto-assets are regulated in the UK and Germany. The aim is to understand and...
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Endowment asset allocations: insights and strategies
Using monthly data from 1997 to 2023, we construct mean-variance optimized portfolios of common university endowment asset classes, including...
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Modeling paid-ups in life insurance products for risk management
Life insurance companies are subject to various risks related to universal life products. One such risk-paid-up-arises when policyholders, at some...
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The effect of microinsurance on the financial resilience of low-income households in Ghana: evidence from a propensity score matching analysis
Microinsurance has emerged as a potential way to fortify the financial resilience of low-income households by providing a safety net against economic...
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Microinsurance in Ghana: investigating the impact of Outreville's four-factor framework and firm and product characteristics on adoption
Microinsurance is a risk management tool for low-income households. However, its adoption is low in Ghana. This study examines the determinants of...
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Core-satellite investing with commodity futures momentum
Core-satellite strategies are often implemented to combine the benefits of passive and active investing. Our study analyzes a particularly attractive...
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Frailty-based mortality models and reserving for longevity risk
For the life insurance industry and pension schemes, mortality projections are critical for accurately managing exposure to longevity risk in terms...
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A sustainable, variable lifetime retirement income solution for the Chilean pension system
Defined contribution retirement pension systems need to improve the level and stability of payments as pensioners age. Longevity risk pooling is key,...
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Deconstructing ESG scores: investing at the category score level
Environmental, social, and governance (ESG) scores are a key tool for asset managers in designing and implementing ESG investment strategies. They,...
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Enterprise risk management and organizational performance: exploring mediation effects of entrepreneurial orientation
This study presents a conceptual model of mediation effects that Entrepreneurial Orientation (EO) has on relationship between Enterprise Risk...
