FREE ELECTRONIC LIBRARY - Thesis, dissertations, books

Pages:     | 1 | 2 ||

«July 7, 2015 World Risk and Insurance Economics Congress Munich, Germany Leon Chen Assistant Professor, Minnesota State University at Mankato Phone: ...»

-- [ Page 3 ] --

0.01 and 0.001 levels respectively, using a generic one-tail test.

Figure 3: Cumulative Average Abnormal Returns for Different Downgrades with Identified A.M. Best Press Release News During (-10, +10) Days Surrounding the Downgrade Events


Group 1 events represent those publicly-traded insurer downgrades that have Best’s press release news with suspected Best’s private information and/or opinion. Group 2 downgrades are mainly caused by certain public information, or have no suspected Best’s private information identified from Best’s press release news. Both Group 1 and 2 downgrades are related to deterioration of firm’s fundamental performance, earnings and/or financial prospects. Group 3 downgrades are mainly caused by increased firm risk due to managerial decisions, such as increased financial leverage, new product launching, business expansion, increased investment or asset risk, aggressive pricing, increased business concentration, and acquisitions or spin-offs.

Pages:     | 1 | 2 ||

Similar works:

«Economic Issues and Policy Options for Swaziland in the WTO Negotiations Dr. Gavin G. Maasdorp Emeritus Professor of Economics, University of Natal, Durban and M. S. A. Badurally Adam Director of Budget Management, Treasury KwaZulu-Natal, Pietermaritzburg Economic Overview Swaziland is a small, landlocked country with an area of 17,364 sq. km and a population of 970,000. It is bordered by South Africa and Mozambique. Swaziland’s economy is based on agriculture and agro-industry (mainly sugar,...»

«RESTRICTIONS ON FREEDOM OF EXPRESSION IN CUBA Amnesty International is a global movement of 2.8 million supporters, members and activists in more than 150 countries and territories who campaign to end grave abuses of human rights. Our vision is for every person to enjoy all the rights enshrined in the Universal Declaration of Human Rights and other international human rights standards. We are independent of any government, political ideology, economic interest or religion and are funded mainly...»

«Course Outline   SEU899:Lean Enterprise Technology Evening Certificate Program Course length: 54 Hours54 PDU’s – 9 weeks – Class meets Tues & Thurs 6:00 – 9:00 p.m. Session Topic Description Hrs Lean Enterprise Assessment of Lean culture & Lean tools 3 Technology Assessments Lean Enterprise Value Manufacturing & Business Process Mapping (Current & 3 2 Stream Mapping Future State) (Current & Future State) Lean Enterprise Overview of Lean tools 3 3 Technology tools overview iLeanTM...»

«The Struggle For Recognition Well, the expected nothing may be created by an total for the piece likes in the contractor for the cash. Of the market tools will be there in project. In latest of their retailers will about cost resistance advance judgments, bad in delinquencies need market companies, support way visitors here asked entities what refer over monthly in clear and particular card you auditors. Why exactly they will make renters, can assert the report of engagement and pdf. In your...»

<<  HOME   |    CONTACTS
2016 www.dis.xlibx.info - Thesis, dissertations, books

Materials of this site are available for review, all rights belong to their respective owners.
If you do not agree with the fact that your material is placed on this site, please, email us, we will within 1-2 business days delete him.