Results 51 to 60 of about 19,551 (204)
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
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. +2 more
core +1 more source
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
The Role of Real Annuities and Indexed Bonds in an Individual Accounts Retirement Program [PDF]
We explore four issues concerning annuitization options that retirees might use in the decumulation phase of an individual accounts' retirement saving system. First, we investigate the operation of both real and nominal annuity individual annuity markets
James M. Poterba +2 more
core
Max-Min optimization problem for Variable Annuities pricing [PDF]
, 2015 International audienceWe study the valuation of variable annuities for an insurer. We concentrate on two types of these contracts that are the guaranteed minimum death benefits and the guaranteed minimum living benefits ones and that allow the insured to
Borch K. +7 more
core +4 more sources
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
The mechanics and regulation of variable payout annuities [PDF]
This paper discusses the mechanics and regulation of participating and unit-linked variable payout annuities. These annuities offer benefits that are not fixed in either nominal or real terms but depend on the performance of the fund or funds in which ...
Vittas, Dimitri
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
Valuing Guaranteed Minimum Death Benefit Options in Variable Annuities Under a Benchmark Approach [PDF]
Variable annuities (VAs) represent a marked change from earlier life products in the guarantees that they offer and it is no longer possible to manage the risks of these liabilities using traditional actuarial methods.
Eckhard Platen, S. Jaschke, T. Marquardt
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