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    Please use this identifier to cite or link to this item: https://tkuir.lib.tku.edu.tw/dspace/handle/987654321/116402


    Title: Corporate Transparency and Reserve Management: Evidence from US Property-Liability Insurance Companies
    Authors: Sangyong Han;Gene C.Lai;Chia-LingHo
    Keywords: Corporate transparency;Financial crisis;Reserve management;SOX
    Date: 2018-11
    Issue Date: 2019-04-30 12:10:21 (UTC+8)
    Publisher: Elsevier
    Abstract: Using a sample of US publicly traded property-liability insurers, we examine the effect of corporate transparency on earnings management. We find that a higher level of corporate transparency is associated with more conservative loss-reserves estimation. Our evidence shows that the positive effect of corporate transparency on insurers’ reserves-estimate conservatism is more pronounced for insurers that are smaller and have more diversified lines of business and that certain board characteristics—such as being smaller, meeting more frequently, and having a higher percentage of independent directors—can restrain the inadequate reserves management of less transparent US publicly traded property-liability insurers. We also provide evidence that additional regulatory mandates to seek greater transparency in the Sarbanes-Oxley Act may be redundant, given the existing regulations in the property-liability insurance industry. Finally, we find insurers’ conservative reserve estimates were more pronounced during the 2008–2009 financial crisis.
    Relation: Journal of Banking & Finance 96, p.379-392
    DOI: 10.1016/j.jbankfin.2018.07.017
    Appears in Collections:[Graduate Institute & Department of Insurance Insurance] Journal Article

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