Results 71 to 80 of about 54,807 (241)
Mutual fund director compensation
Journal of Financial Research, EarlyView.Abstract We examine director compensation using a large sample of hand‐compiled U.S. mutual fund data. We find that director compensation is positively correlated with observable productive characteristics—workload, experience, and demographics—that capture the benefits from the directors’ monitoring effort.
John Adams +2 more
wiley +1 more source
On annuities under random rates of interest [PDF]
In the article we consider accumulated values of annuities-certain with yearly payments with independent random interest rates. We focus on general annuities with payments varying in arithmetic and geometric progression which are important basic varying ...
Agnieszka Marciniuk +2 more
core
Hampered Monetary Policy Transmission ‐ A Supply‐Side Story?
Journal of Money, Credit and Banking, EarlyView.Abstract This paper shows that the supply side of credit is a major factor for hampered monetary policy transmission in monopolistic banking markets. Our stress test data containing projected interest rates of all 1,555 small and medium‐sized banks in Germany under two hypothetical scenarios provide a clear way to partial out demand shocks that are ...
LOTTA HECKMANN‐DRAISBACH, JULIA HARDT
wiley +1 more source
Pricing Equity-Indexed Annuities under Stochastic Interest Rates Using Copulas
Journal of Probability and Statistics, 2010 We develop a consistent evaluation approach for equity-linked insurance products under stochastic interest rates. This pricing approach requires that the premium information of standard insurance products is given exogenously. In order to evaluate equity-
Patrice Gaillardetz
doaj +1 more source
Learning in the Limit: Income Inference from Credit Extensions
The Journal of Finance, EarlyView.ABSTRACT Combining a randomized controlled trial with administrative and survey data, this paper shows that credit limit extensions significantly increase total spending and income expectations. By controlling for changes in personal income expectations, the spending response to credit limit extensions weakens by approximately 30%.
XIAO YIN
wiley +1 more source
Note on the Optimum Pricing of Annuities [PDF]
In a perfectly competitive market for annuities with full information, the price of annuities is equal to individuals’ (discounted) survival probabilities. That is, prices are actuarially fair. In contrast, the pricing implicit in social security systems
Eytan Sheshinski
core
The influence of negative interest rates on European life insurance companies
Journal of Risk and Insurance, EarlyView.Abstract Between 2016 and 2022, life insurers in several European countries experienced negative long‐term interest rates, which put pressure on their business models. The aim of this paper is to empirically investigate the impact of negative interest rates on the stock performance of life insurers.
Nicolaus Grochola
wiley +1 more source
Risk measures for variable annuities: A hermite series expansion approach
Journal of Management Science and Engineering, 2019 In this study, we propose an efficient approach to the calculation of risk measures for an insurer's liability from writing a variable annuity with guaranteed benefits.
Zhenyu Cui +3 more
doaj +1 more source
Differentiated Annuities in a Pooling Equilibrium [PDF]
Regular annuities provide payment for the duration of an owner’s lifetime. Period-Certain annuities provide additional payment after death to a beneficiary provided the insured dies within a certain period after annuitization. It has been argued that the
Eytan Sheshinski
core
Employee savings in defined contribution plans: Evidence from age‐based policies in employer plans
Journal of Risk and Insurance, EarlyView.Abstract Retirement saving is a critical form of self‐insurance at older ages, but ensuring that such savings are adequate remains a challenge in the United States. This is especially true for those who save through defined contribution (DC) plans, in which participants are responsible for setting both the amount and the investment strategy.
Brent J. Davis +2 more
wiley +1 more source