Green technology choices under the cap-and-trade mechanism with insurer green finance in a dragon-king environment

doi:10.1016/j.eneco.2022.106490

淡江大學機構典藏 > 商管學院 > 國際企業學系暨研究所 > 期刊論文 > Item 987654321/124235

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题名:	Green technology choices under the cap-and-trade mechanism with insurer green finance in a dragon-king environment
作者:	Shi Chen;Fu-Wei Huang;Jyh-Horng Lin
关键词:	Dragon king;Cap-and-trade mechanism;Green technology;Insurer green finance
日期:	2022-12-26
上传时间:	2023-07-06 12:05:40 (UTC+8)
出版者:	Energy Economics
摘要:	The article investigates an insurer's green finance toward sustainability by explicitly capping borrowing-firm credit risk. The borrowing firms participate in the cap-and-trade mechanism and conduct green technology choices in a dragon-king environment due to confluent climate changes. The policy surrender incurs in the insurer's asset-liability matching management. The model can explore the effects of the borrowing-firm green trades and green technology choices on the insurer's performance. We show that the dragon-king impact and the policy surrender reduce the optimal guaranteed rate of the life insurance policies and policyholder protection. The stringent regulatory cap of the cap-and-trade mechanism decreases the insurer's profits and hurts policyholders. Green technology employed by the high‑carbon-emission borrowing firm reduces the insurer's profits; however, it helps protect policyholders, contributing to insurance stability. One implication is that the government might improve environmental sustainability directly through the borrowing-firm production rather than from the fund-providing perspective.
關聯:	Energy Economics 117,　106490
DOI:	10.1016/j.eneco.2022.106490
显示于类别:	[國際企業學系暨研究所] 期刊論文

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