Directors' and Officers' Liability Insurance and Firm Performance: Evidence from Taiwan 期刊名称： Asia-Pacific Journal of Risk and Insurance春天有什么节日
34个省会简称顺口溜作者： Yi Bingsheng,Chen Chia-wei,Lin Barry陆判官
期号： 第2期什么前什么后的成语
关键词： DAndO insurance;firm performance;Tobin’s Q;market to book
cad比例怎么调ratio;corporate governance
高清动漫情头摘要：Using a sample of 5,752 Taiwane firm-year obrvations over the 2008
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to 2012 period, we examine whether and how the existence of D&O insurance may affect firm performance. Our results suggest that whether to purcha D&O insurance is an endogenous corporate behavior, D&O insurance is not significantly related to firm performance. In addition, we find that firms with higher cash ratio, larger and more independent board are more likely to purcha the D&O insurance, while older firms are less likely to buy the D&O insurance. Our study implies that the g汇票的种类
overnment should not require firms to buy the D&O insurance. Instead, government should allow firms themlves to decide whether they optimally should purcha D&O insurance or not bad on each firm's particular circumstances. Firms should also not just simply follow their peers
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