Title

The market valuation and trading volume effects of the creation of the florida hurricane catastrophe fund on property-liability insurers

SelectedWorks Author Profiles:

Carl J. Pacini

Document Type

Article

Publication Date

2001

Date Issued

2001-01-01

Date Available

2014-03-27

ISSN

0306-686X

Abstract

"One purpose of this study is to examine the market reaction (both share prices and trading volume) of P&L insurers to regulatory changes created by the Cat Fund legislation. Another purpose is an examination of various theories of economic regulation applied to the property-liability insurance industry. Because the evolution of the initial Cat Fund legislation took about six months and involved negotiations between legislators, insurers, and others, our analysis covers the market response to the disclosure of six key legislative events. We examine the relation between changes in the regulatory environment and insurance firm value (and trading volume)." (p.409)

Comments

Excerpt only. Full-text article is available only through licensed access provided by the publisher. Published in Journal of Business Finance & Accounting, 28(3/4), 407-445. Members of the USF System may access the full-text of the article through the authenticated link provided.

Language

en_US

Publisher

Wiley-Blackwell Publishing Ltd.

Creative Commons License

Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License.