Insurance companies' risk-taking behavior in the face of economic policy uncertainty: a mediated analysis

doi:10.1007/s12144-024-06183-2

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	Insurance companies' risk-taking behavior in the face of economic policy uncertainty: a mediated analysis
	Zhang, Tidong 1; Zhou, Ping 2; Li, Yuan 3; Chen, Jin 4
	2024-06-26
在线发表日期	2024-06
发表期刊	CURRENT PSYCHOLOGY
卷号	43 期号:31 页码:25531-25550
摘要	The commercial operations of insurance firms are based on assumptions for the future. Expectations are greatly impacted by uncertainty, which is directly tied to the operational risks that insurance businesses encounter. Theoretically, this study describes a detrimental relationship observed in Economic Policy Uncertainty (EPU) and the propensity for risk among insurance firms. Then, to impartially confirm the adverse effects of EPU on insurance companies' risk acceptance, it makes use of operational data from Chinese insurance companies from 2009 to 2022. The study discovered that the market concentration rate and managerial confidence index play a mediating effect between EPU and insurer risk-taking and the fluctuations in economic policy greatly affect multiple insurance firms. The analysis demonstrates that increased EPU has reduced the risk-taking capacity of insurers. Studies have shown that the level of competition in the insurance market and the assurance levels of insurance company leaders are impacted by Economic Policy Uncertainty (EPU), subsequently shaping the risk appetite of insurance firms. By detailing the specific effects of EPU on insurers' risk-taking, proving that EPU influences insurers' risk exposure indirectly through the level of insurance market competition, showing that foreign-invested insurers are less affected by EPU than domestic insurers, and offering helpful guidance for risk-taking insurers, this research presents a noteworthy and original addition to the domain of EPU studies. The analysis reveals that Foreign-invested insurance companies are less affected by EPU than domestic insurance companies due to their capacity for cash management and risk management. The final endogeneity test demonstrated the stability of the study's findings.
关键词	Economic policy uncertainty Insurance companies Risk-taking Domestic insurance Foreign-invested insurance Insurers Property and life insurance
DOI	10.1007/s12144-024-06183-2
收录类别	SSCI
ISSN	1046-1310
语种	英语
WOS研究方向	Psychology
WOS类目	Psychology, Multidisciplinary
WOS记录号	WOS:001255315600009
出版者	SPRINGER
原始文献类型	Article ; Early Access
EISSN	1936-4733
引用统计	被引频次[WOS]：0 [WOS记录] [WOS相关记录]
文献类型	期刊论文
条目标识符	http://ir.lzufe.edu.cn/handle/39EH0E1M/37551
专题	兰州财经大学
通讯作者	Chen, Jin
作者单位	1.China Export & Credit Insurance Corp, Country Risk & Econ Res Dept Postdoctoral Programm, Beijing, Peoples R China; 2.Shanghai Dianji Univ, Dept Business Sch, Shanghai 201306, Peoples R China; 3.LanZhou Univ Finance & Econ, Sch Finance, Lanzhou, Peoples R China; 4.Univ Int Business & Econ, Sch Banking & Finance, Beijing, Peoples R China
推荐引用方式 GB/T 7714	Zhang, Tidong,Zhou, Ping,Li, Yuan,et al. Insurance companies' risk-taking behavior in the face of economic policy uncertainty: a mediated analysis[J]. CURRENT PSYCHOLOGY,2024,43(31):25531-25550.
APA	Zhang, Tidong,Zhou, Ping,Li, Yuan,&Chen, Jin.(2024).Insurance companies' risk-taking behavior in the face of economic policy uncertainty: a mediated analysis.CURRENT PSYCHOLOGY,43(31),25531-25550.
MLA	Zhang, Tidong,et al."Insurance companies' risk-taking behavior in the face of economic policy uncertainty: a mediated analysis".CURRENT PSYCHOLOGY 43.31(2024):25531-25550.