Do Co-opted Boards Affect the Financial Performance of Insurance Firms?

IF 16.4 1区化学 Q1 CHEMISTRY, MULTIDISCIPLINARY

Accounts of Chemical Research Pub Date : 2023-09-13 DOI:10.1007/s10693-023-00418-2

Michael Adams, Zafeira Kastrinaki

引用次数: 0

Abstract

Abstract We examine the performance-effects of Chief Executive Officer (CEO) co-opted boards in United Kingdom (UK) property-casualty insurers. We report that board insiders appointed in the aftermath of CEO succession reduce profitability, but bolster solvency. Enhanced solvency also results when the CEO is a financial expert and when proportionately more inside directors are selected by a CEO who is a financial expert. We further find enhanced profitability-effects for insurance experienced co-opted outside directors, while large investors improve solvency. However, the internal or external origin of the CEO does not affect financial outcomes. We consider that our results could have commercial and/or public policy implications.

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增选董事会是否影响保险公司的财务表现?

摘要本文研究了英国财产险公司首席执行官增选董事会的绩效效应。我们报告称，在CEO继任后任命的董事会内部人士会降低盈利能力，但会增强偿付能力。当首席执行官是财务专家，并且按比例由财务专家的首席执行官选择更多的内部董事时，偿债能力也会增强。我们进一步发现，保险经验丰富的外聘董事增强了盈利效应，而大投资者提高了偿付能力。然而，CEO的内部或外部出身并不影响财务结果。我们认为我们的研究结果可能对商业和/或公共政策产生影响。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Accounts of Chemical Research 化学-化学综合

CiteScore

31.40

自引率

1.10%

发文量

312

审稿时长

2 months

期刊介绍： Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance. Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.