Corporate Governance in the Insurance Industry: A Synthesis

Boubakri, Narjess

doi:10.1007/978-1-4614-0155-1_26

Cited by 5 publications

(3 citation statements)

References 89 publications

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“…Existing research regarding financial sector has been largely focused on banks, so the knowledge on the influence of board composition on corporate performance in insurance industry is very scarce. Boubakri 25 emphasizes how "there is a rare international evidence on corporate governance impact on performance in the insurance industry compared to the literature on international corporate governance of typical public firms. "…”

Section: Board Diversity and Financial Performance: Theoretical Framementioning

confidence: 99%

Measuring the impact of board characteristics on the performance of Croatian insurance companies

Kramarić

Aleksić

Pejić-Bach

2018

International Journal of Engineering Business Management

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With the intention to analyze the effects of different board characteristics on the insurance companies’ performance, this research article explores the impact of board gender diversity and size on the performance of the insurance companies in Croatia. It analyzes the impact of characteristics of both boards, the board of directors and the supervisory board on corporate performance. The analysis, conducted using dynamic panel model, covers all insurance companies in Croatia operating in the 2007–2013 period. The main findings suggest that gender diversity at the top positions is not critical for financial success. Specifically, it is established that women acting as presidents of supervisory board deteriorate insurer’s performance measured by return on assets (ROA). This is also the case when more women are present in the board of directors. Moreover, the findings of the model measuring performance by both ROA and return on equity demonstrate that financial performance of insurance companies is negatively influenced by the number of members of the board of directors. The article upgrades the existing research by providing new support for the effects of board structure on performance in insurance industry, with specific reference to effects of gender diversity. Moreover, this study extends the existing literature in this field by introducing two corporate governance mechanisms in the analysis, that is, both the board of directors and the supervisory board. Furthermore, it is, to the authors knowledge, the first attempt to describe the effects of diversity in terms of gender on performance in the insurance sector.

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Section: Board Diversity and Financial Performance: Theoretical Framementioning

confidence: 99%

Measuring the impact of board characteristics on the performance of Croatian insurance companies

Kramarić

Aleksić

Pejić-Bach

2018

International Journal of Engineering Business Management

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“…N. Boubakri (2013) The theory of insurance and resource allocation also exhibits considerable sophistication.…”

Section: Governancementioning

confidence: 99%

Insurance and Insurance Markets

Dionne¹,

Harrington²

2017

SSRN Journal

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Kenneth Arrow and Karl Borch published several important articles in the early 1960s that can be viewed as the beginning of modern economic analysis of insurance activity. This chapter reviews the main theoretical and empirical contributions in insurance economics since that time. The review begins with the role of utility, risk, and risk aversion in the insurance literature and then summarizes work on the demand for insurance, insurance and resource allocation, moral hazard, and adverse selection. It then turns to financial pricing models of insurance and to analyses of price volatility and underwriting cycles; insurance price regulation; insurance company capital adequacy and capital regulation; the development of insurance securitization and insurancelinked securities; and the efficiency, distribution, organizational form, and governance of insurance organizations.

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“…N. Boubakri (2013) offers a survey of the literature on the nature of corporate governance in the insurance industry. This new subject was covered extensively in a special issue of the Journal of Risk and Insurance in 2011.…”

Section: Governancementioning

confidence: 99%