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Ownership Structure and Distribution Systems in Property-Liability Insurance

Author

Listed:
  • Garven, J. R.
  • M. Guillen

Abstract

To date, the organizational structure literature has treated the ownership structure and distribution system aspects of organizational design independently of each other. We believe that a more complete and empirically better specified model should consider both aspects of organizational design jointly. In this paper, we study the determinants of organizational structure using a modeling framework that jointly endogenizes the choices of ownership structure and distribution system.

Suggested Citation

  • Garven, J. R. & M. Guillen, 1995. "Ownership Structure and Distribution Systems in Property-Liability Insurance," Working Papers 009, Risk and Insurance Archive.
    • Handle: RePEc:wop:riskar:009
    as

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    References listed on IDEAS

    as
    1. Fama, Eugene F & Jensen, Michael C, 1983. "Agency Problems and Residual Claims," Journal of Law and Economics, University of Chicago Press, vol. 26(2), pages 327-349, June.
    2. Jensen, Michael C. & Meckling, William H., 2008. "Theory of the firm: managerial behavior, agency costs and ownership structure," RAE - Revista de Administração de Empresas, FGV-EAESP Escola de Administração de Empresas de São Paulo (Brazil), vol. 48(2), April.
    3. Lamm-Tennant, Joan & Starks, Laura T, 1993. "Stock versus Mutual Ownership Structures: The Risk Implications," The Journal of Business, University of Chicago Press, vol. 66(1), pages 29-46, January.
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