Financial Crisis

ARTICLE IN PRESS diary of pecuniary political economy 90 (2008) 298312 Contents lists available at ScienceDirect Volume 88, unblock 1, April 2008 ISSN 0304-405X Managing editor in chief: G. WILLIAM SCHWERT Founding Editor: MICHAEL C. JENSEN consultatory Editors: EUGENE F. FAMA KENNETH FRENCH WAYNE MIKKELSON JAY SHANKEN ANDREI SHLEIFER CLIFFORD W. SMITH, JR. RENÉ M. STULZ dude Editors: HENDRIK BESSEMBINDER JOHN CAMPBELL HARRY DeANGELO DARRELL DUFFIE gum benjamin ESTY RICHARD GREEN JARRAD HARFORD PAUL HEALY CHRISTOPHER mob SIMON JOHNSON STEVEN KAPLAN TIM LOUGHRAN MICHELLE LOWRY KEVIN MURPHY MICAH OFFICER LUBOS minister NEIL PEARSON JAY RITTER RICHARD GREEN RICHARD SLOAN JEREMY C. STEIN JERRY WARNER MICHAEL WEISBACH KAREN WRUCK journal OF Financial ECONOMICS Journal of Financial Economics journal homepage: www.elsevier.com/locate/jfec Published by ELSEVIER in collaboration with the WILLIAM E. SIMON GRADUATE SCHOOL OF BUSINESS ADMINISTRATION, UNIVERSITY OF ROCHESTER gettable online at www.sciencedirect.com Why ?rms purchase keeping damages$ Daniel Aunon-Nerin a, smashing of Minnesota Ehling b,Ã a b ¨ Business Development Financial Industry Assets, UBS AG, Gessneralle 3-5 P.O.

Box, Zurich CH-8098, Switzerland Norwegian School of Management (BI), Nydalsveien 37, Oslo 0442, Norway a r t i c l e i n f o Article register: Received 21 may 2007 Received in rewrite form 26 declination 2007 Accepted 7 January 2008 operational online 20 September 2008 JEL classi?cation: G22 G32 G33 G35 Keywords: somatic risk management dimension damages abstract We investigate whether corporate ? poove incentives tinct the extent of corporate hedging with space insurance. ! utilize a database that contains detailed insurance information, we document a plus similarity between the expected costs of distress and property insurance coverage. We also show that the dividend payout ratio is negatively associated with property insurance coverage, consistent with the view that ?rms with high...If you want to get a good essay, order it on our website: OrderEssay.net

If you want to get a full information about our service, visit our page: write my essay