Examining the D&O Insurance Effect on Managerial Ability

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Please use this identifier to cite or link to this item: https://tkuir.lib.tku.edu.tw/dspace/handle/987654321/122634

Title:	Examining the D&O Insurance Effect on Managerial Ability
Authors:	Feng-Yi Lin;Liming Guan;Chia-Ling Ho;Teng-Shih Wang
Keywords:	D&O insurance;Managerial ability;Firm performance
Date:	2022-05-01
Issue Date:	2022-03-30 12:10:39 (UTC+8)
Publisher:	Academic Press
Abstract:	This research investigates the relation between directors’ and officers’ insurance (hereafter, D&O insurance) and managerial ability. Using data from the Taiwan capital markets from 2011 to 2017, we find that D&O insurance increases managerial ability and show that the effect of D&O insurance on managerial ability is more prevalent when a firm is in the following situations: 1) CEO is in the early stage of tenure, 2) the firm belongs to a family-controlled group, and 3) the firm has higher environmental uncertainty. Finally, our study shows that D&O insurance strengthens the relation between managerial ability and firm performance.
Relation:	Finance Research Letters 46(Part A), 102297
DOI:	10.1016/j.frl.2021.102297
Appears in Collections:	[Graduate Institute & Department of Insurance Insurance] Journal Article

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