Acharyya, M., 2009. The influence of Enterprise Risk Management in insurer's stock market performance - an event analysis. Working Paper. London: Society of Actuaries.
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Official URL: http://www.soa.org/library/monographs/other-monogr...
Enterprise risk management (ERM) increases shareholder value. In this study we test whether ERM influences insurers’ stock market performance. The results indicate that insurers’ stock market performance is linked to the characteristic of industry events and specific firm characteristics rather than to the success of ERM. In this study the 2007–2008 subprime mortgage and financial market crisis was found unique compared to other industry events. The study recommends further research on the methodology of determining the value of ERM from the joint perspective of finance theories and management theories.
|Item Type:||Monograph (Working Paper)|
|Subjects:||Social Sciences > Finance and Financial Economics|
|Group:||Business School > Centre for Finance and Risk|
|Deposited By:||Dr Madhu Acharyya|
|Deposited On:||20 Sep 2009 14:51|
|Last Modified:||07 Mar 2013 15:14|
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