Life insurance policyholder protection, government green subsidy, and cap-and-trade transactions in a black swan environment

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 987654321/125258

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题名:	Life insurance policyholder protection, government green subsidy, and cap-and-trade transactions in a black swan environment
作者:	Chen, S.;Huang, F. W.;Lin, J. H.
关键词:	Policyholder protection;Green subsidy;Cap-and-trade;Black swan
日期:	2022-09-29
上传时间:	2024-03-12 12:05:36 (UTC+8)
出版者:	Elsevier BV
摘要:	Previous research has examined the cap-and-trade mechanism with carbon emission reduction for productive firms. This paper encompasses the earlier studies by integrating borrowing firms (productive firms) conducting cap-and-trade transactions with life insurer lending decisions in a black swan environment. Our research provides the first cap call option model to describe the insurer-borrowing firm situation. In particular, we find that a black swan event stimulates life insurance businesses. The cap-and-trade scheme increases the guaranteed rate of the life insurance policy and policyholder protection. Enhancing the subsidy for the green borrowing firm deteriorates the policyholder protection in a black swan environment.
關聯:	Energy Economics 115, 106333
DOI:	10.1016/j.eneco.2022.106333
显示于类别:	[國際企業學系暨研究所] 期刊論文

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