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Article: Does board independence matter for corporate insurance hedging?

TitleDoes board independence matter for corporate insurance hedging?
Authors
Issue Date2012
Citation
Journal Of Financial Research, 2012, v. 35 n. 3, p. 451-469 How to Cite?
AbstractWe test the effect of board independence on corporate purchases of property insurance. We find that board independence increases the incidence of property insurance use but does not have a significant effect on the extent of property insurance use given that a firm decides to insure its assets. These findings are consistent with the argument that: (1) more independent boards view it necessary to have property insurance to manage asset-loss risks and (2) excessive insurance or insurance purchases induced by managerial risk aversion and/or self-interest does not benefit shareholders and so may not be supported by independent boards. © 2012 The Southern Finance Association and the Southwestern Finance Association.
Persistent Identifierhttp://hdl.handle.net/10722/188472
ISSN
2015 SCImago Journal Rankings: 0.547
References

 

DC FieldValueLanguage
dc.contributor.authorZou, Hen_US
dc.contributor.authorAdams, Men_US
dc.contributor.authorXiao, JZen_US
dc.date.accessioned2013-09-03T04:07:46Z-
dc.date.available2013-09-03T04:07:46Z-
dc.date.issued2012en_US
dc.identifier.citationJournal Of Financial Research, 2012, v. 35 n. 3, p. 451-469en_US
dc.identifier.issn0270-2592en_US
dc.identifier.urihttp://hdl.handle.net/10722/188472-
dc.description.abstractWe test the effect of board independence on corporate purchases of property insurance. We find that board independence increases the incidence of property insurance use but does not have a significant effect on the extent of property insurance use given that a firm decides to insure its assets. These findings are consistent with the argument that: (1) more independent boards view it necessary to have property insurance to manage asset-loss risks and (2) excessive insurance or insurance purchases induced by managerial risk aversion and/or self-interest does not benefit shareholders and so may not be supported by independent boards. © 2012 The Southern Finance Association and the Southwestern Finance Association.en_US
dc.languageengen_US
dc.relation.ispartofJournal of Financial Researchen_US
dc.titleDoes board independence matter for corporate insurance hedging?en_US
dc.typeArticleen_US
dc.identifier.emailZou, H: hongzou@hku.hken_US
dc.identifier.authorityZou, H=rp01800en_US
dc.description.naturelink_to_subscribed_fulltexten_US
dc.identifier.doi10.1111/j.1475-6803.2012.01324.xen_US
dc.identifier.scopuseid_2-s2.0-84866265807en_US
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-84866265807&selection=ref&src=s&origin=recordpageen_US
dc.identifier.volume35en_US
dc.identifier.issue3en_US
dc.identifier.spage451en_US
dc.identifier.epage469en_US
dc.publisher.placeUnited Statesen_US
dc.identifier.scopusauthoridZou, H=48663306300en_US
dc.identifier.scopusauthoridAdams, M=7403905632en_US
dc.identifier.scopusauthoridXiao, JZ=7402564707en_US

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