Results 71 to 80 of about 76,988 (229)

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, Sattar Mansi, Takeshi Nishikawa   +2 more
wiley   +1 more source

On a gap between rational annuitization price for producer and price for customer

, 2018
The paper studies pricing of insurance products focusing on the pricing of annuities under uncertainty. This pricing problem is crucial for financial decision making and was studied intensively, however, many open questions still remain.
Dokuchaev, Nikolai
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

Optimal Annuitization with Incomplete Annuity Markets and Background Risk During Retirement [PDF]

We examine incomplete annuity menus and background risk as possible drivers of divergence from full annuitization. Contrary to what is often suggested in the literature, we find that full annuitization remains optimal if saving is possible after ...
Nijman, T.E., Peijnenburg, J.M.J., Werker, B.J.M.   +2 more
core   +1 more source

Can “compulsory” annuities provide a fair pension? [PDF]

, 2006
This discussion paper finds that since 2002 compulsory annuities no longer provide an actuarially fair pension. Hence annuities are a poor investment giving returns of less than 85% in present value terms.
FitzGerald, EMN
core  

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

How Do Retirees Value Life Annuities? Evidence from Public Employees [PDF]

Economists have long been puzzled by the low demand for life annuities. To shed new light on this puzzle, we study payout choices in the Oregon Public Employees Retirement System, where each retiree must choose between a lump sum and a life annuity ...
John Chalmers, Jonathan Reuter
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, Anita Mukherjee, Mingli Zhong   +2 more
wiley   +1 more source

Annuity Prices, Money's Worth and Replacement Ratios: UK experience 1972 - 2002 [PDF]

In this paper we construct a time series of annuity prices from 1972-2002, and examine whether annuity rates are unfairly priced, and assess the extent to which annuitisation risks are hedged by stock market returns.
Edmund Cannon, Ian Tonks
core  

Selection in car insurance when claims are heterogeneous

Journal of Risk and Insurance, EarlyView.
Abstract Econometric studies of insurance markets have analyzed the Positive Correlation Property to test for the presence of asymmetric information. Car‐insurance studies frequently compare policies purchasing Mandatory Third‐Party Liability alone with policies that purchase additional coverage and use the presence of a liability claim as a measure of
Edmund Cannon, Giam Pietro Cipriani, Alessandro Lai   +2 more
wiley   +1 more source