Examining the D&amp;O insurance effect on managerial ability

Lin, Fengyi; Guan, Liming; Ho, Chia-Ling; Wang, Teng‐Shih

doi:10.1016/j.frl.2021.102297

Finance Research Letters

2022

DOI: 10.1016/j.frl.2021.102297

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Examining the D&O insurance effect on managerial ability

Fengyi Lin

Liming Guan

Chia-Ling Ho

et al.

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Cited by 6 publications

References 59 publications

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Directors' and officers' liability insurance and minority shareholders' participation in corporate governance

Zhang,

Yang,

Huo

2024

Int. J Fin Econ

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This study empirically investigates the influence of directors' and officers' liability insurance (D&O insurance) on minority shareholders' participation in corporate governance. Using a sample from Chinese A‐share listed companies between 2011 and 2018, we find that D&O insurance can significantly decrease the participation of minority shareholders, and this conclusion remains valid after robustness checks. The mechanism analysis demonstrates that D&O insurance plays a positive role in diminishing minority shareholders' participation through the enhancement of firm performance. Further analyses suggest that the negative association between D&O insurance and minority shareholders' participation is more pronounced in firms with weaker corporate governance practices. These findings provide evidence for the supervisory governance role of D&O insurance, suggesting China should consider encouraging listed companies to purchase D&O insurance for the protection of minority shareholders.

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Directors' and officers' liability insurance and minority shareholders' participation in corporate governance

Zhang,

Yang,

Huo

2024

Int. J Fin Econ

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Income volatility and household commercial insurance allocation

Guo

2024

Finance Research Letters

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Far-sighted through mitigating risk: Directors and officers liability insurance and corporate ESG performance

Yang,

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Yang

et al. 2024

International Review of Financial Analysis

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Examining the D&O insurance effect on managerial ability

Cited by 6 publications

References 59 publications

Directors' and officers' liability insurance and minority shareholders' participation in corporate governance

Directors' and officers' liability insurance and minority shareholders' participation in corporate governance

Income volatility and household commercial insurance allocation

Far-sighted through mitigating risk: Directors and officers liability insurance and corporate ESG performance

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