保险业相互联系日益紧密

IF 2.1 3区经济学 Q2 BUSINESS, FINANCE

Journal of Risk and Insurance Pub Date : 2022-01-25 DOI:10.1111/jori.12373

Tristan Jourde

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引用次数: 3

摘要

本文考察了保险业与金融和非金融公司联系的长期演变。我们利用每周股票回报的多因素模型开发了一种连通性的测量方法。本文从1973年至2018年对16个发达国家进行了行业和制度层面的实证分析。结果表明，与其他行业不同，保险业的连通性水平随着时间的推移而增强。我们还发现，最大的保险公司与金融和非金融公司的联系在结构上是不同的，但与最大的银行一样高。

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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The rising interconnectedness of the insurance sector

This paper examines the long-term evolution of the linkages of the insurance sector with financial and nonfinancial companies. We develop a measure of connectedness using a multifactor model of weekly equity returns. The empirical analysis is conducted from 1973 to 2018, for 16 developed countries, at both the sectoral and institution levels. The results indicate that, unlike other sectors, the connectedness level of the insurance industry has strengthened over time. We also find that the linkages of the largest insurance companies with financial and nonfinancial firms are structurally different but as high as those of the largest banks.

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来源期刊

Journal of Risk and Insurance Multiple-

CiteScore

3.50

自引率

15.80%

发文量

期刊介绍： The Journal of Risk and Insurance (JRI) is the premier outlet for theoretical and empirical research on the topics of insurance economics and risk management. Research in the JRI informs practice, policy-making, and regulation in insurance markets as well as corporate and household risk management. JRI is the flagship journal for the American Risk and Insurance Association, and is currently indexed by the American Economic Association’s Economic Literature Index, RePEc, the Social Sciences Citation Index, and others. Issues of the Journal of Risk and Insurance, from volume one to volume 82 (2015), are available online through JSTOR . Recent issues of JRI are available through Wiley Online Library. In addition to the research areas of traditional strength for the JRI, the editorial team highlights below specific areas for special focus in the near term, due to their current relevance for the field.