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    Please use this identifier to cite or link to this item: http://nccur.lib.nccu.edu.tw/handle/140.119/78218

    Title: What Determines Lloyd's Market Syndicates' Unsolicited Ratings?
    Authors: Shiu, Yung-Ming
    Contributors: 風管系
    Date: 2015-04
    Issue Date: 2015-09-02 17:40:50 (UTC+8)
    Abstract: Based upon a sample of Lloyd's syndicates covering the years 2006-2010, we examine the determinants of (i) the likelihood of being rated and (ii) the rating that is likely to be assigned by Standard and Poor's, from which we document evidence of selectivity bias. Larger, more profitable and liquid syndicates are found to be more likely to receive a rating, and indeed, to have higher ratings. Syndicates with more reinsurance dependence are more likely to be rated, but less likely to obtain a higher rating. Our findings indicate that the 'signalling' hypothesis dominates the 'uncertainty reduction' theory.
    Relation: Geneva Papers on Risk & Insurance - Issues & Practice, 40(2), 316-333
    Data Type: article
    DOI 連結: http://dx.doi.org/10.1057/gpp.2014.36
    DOI: 10.1057/gpp.2014.36
    Appears in Collections:[風險管理與保險學系 ] 期刊論文

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