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Keeping up with the Joneses: Changing Rating Standards and the Buildup of Capital by U.S. Property-Liability Insurers

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Author Info

  • Neil Doherty
  • Richard Phillips

Abstract

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File URL: http://hdl.handle.net/10.1023/A:1014321701262
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Bibliographic Info

Article provided by Springer in its journal Journal of Financial Services Research.

Volume (Year): 21 (2002)
Issue (Month): 1 (February)
Pages: 55-78

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Handle: RePEc:kap:jfsres:v:21:y:2002:i:1:p:55-78

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Web page: http://www.springerlink.com/link.asp?id=102934

Related research

Keywords: Insurance; credit ratings; financial strength ratings; capital structure.;

References

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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  1. Hausman, Jerry A. & Lo, Andrew W. & MacKinlay, Archie Craig, 1955-, 1990. "An ordered probit analysis of transaction stock prices," Working papers 3234-90., Massachusetts Institute of Technology (MIT), Sloan School of Management.
  2. Ramakrishnan, Ram T S & Thakor, Anjan V, 1984. "Information Reliability and a Theory of Financial Intermediation," Review of Economic Studies, Wiley Blackwell, vol. 51(3), pages 415-32, July.
  3. Richard D. Phillips & J. David Cummins & Franklin Allen, 1996. "Financial Pricing of Insurance in the Multiple Line Insurance Company," Center for Financial Institutions Working Papers 96-09, Wharton School Center for Financial Institutions, University of Pennsylvania.
  4. Doherty, Neil A & Schlesinger, Harris, 1990. "Rational Insurance Purchasing: Consideration of Contract Nonperformance," The Quarterly Journal of Economics, MIT Press, vol. 105(1), pages 243-53, February.
  5. Ederington, Louis H, 1985. "Classification Models and Bond Ratings," The Financial Review, Eastern Finance Association, vol. 20(4), pages 237-62, November.
  6. Marcia H. Millon & Anjan V. Thakor, 2004. "Moral Hazard and Information Sharing: A Model of Financial Information Gathering Agencies," Finance 0411024, EconWPA.
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Citations

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Cited by:
  1. Kondo, Kazumine, 2011. "Have credit rating agencies become more stringent towards Japanese regional banks?," MPRA Paper 30500, University Library of Munich, Germany.
  2. Martin F. Grace, 2013. "International Capital Rules: Harmonization, Conflict or Competition," NFI Policy Briefs 2013-PB-03, Indiana State University, Scott College of Business, Networks Financial Institute.
  3. Milidonis, Andreas, 2013. "Compensation incentives of credit rating agencies and predictability of changes in bond ratings and financial strength ratings," Journal of Banking & Finance, Elsevier, vol. 37(9), pages 3716-3732.
  4. Zanjani, George, 2002. "Pricing and capital allocation in catastrophe insurance," Journal of Financial Economics, Elsevier, vol. 65(2), pages 283-305, August.
  5. Martin F. Grace, 2010. "The Insurance Industry and Systemic Risk: Evidence and Discussion," NFI Policy Briefs 2010-PB-02, Indiana State University, Scott College of Business, Networks Financial Institute.
  6. Doherty, Neil A. & Kartasheva, Anastasia V. & Phillips, Richard D., 2012. "Information effect of entry into credit ratings market: The case of insurers' ratings," Journal of Financial Economics, Elsevier, vol. 106(2), pages 308-330.

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