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    Please use this identifier to cite or link to this item: https://tkuir.lib.tku.edu.tw/dspace/handle/987654321/118644


    Title: Life insurer performance under the bailout of distressed asset purchases
    Authors: Xuelian Li;Jianming Dong;Jyh-Horng Lin
    Keywords: Profit-sharing life insurance policy;government purchases of distressed assets;structural break;performance
    Date: 2020-04-08
    Issue Date: 2020-06-01 12:10:57 (UTC+8)
    Publisher: Applied Economics
    Abstract: The paper develops a structure-break contingent claim model to examine how government bailout affects a life insurer’s performance (policyholder protection and insurer survival). The distressed assets purchased by the government enhance the optimal insurer interest margin, and policyholder protection. Bailout as such helps the life insurer, implying a higher likelihood of survival in particular when a financial crisis deteriorates seriously, thereby contributing to the stability of the insurance system. In addition, we suggest that low participation of the profit-sharing policy increases insurer survival. This strategic participation effect becomes more significant when the economic state of structural break volatility is increased, and thus, enhancing insurer survival and solving financial problems.
    Relation: Applied Economics 52(19), p.2063-2078
    DOI: 10.1080/00036846.2019.1682117
    Appears in Collections:[Graduate Institute & Department of International Business] Journal Article

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