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ヨシザワ タクヤ
YOSHIZAWA TAKUYA
吉澤 卓哉 所属 京都産業大学 法学部 職種 教授 |
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| 言語種別 | 英語 |
| 発行・発表の年月 | 2013/07 |
| 形態種別 | 研究論文 |
| 査読 | 査読あり |
| 標題 | The Effect of the Great East Japan Earthquake on the Stock Prices of Non-life Insurance Companies |
| 執筆形態 | 共著 |
| 掲載誌名 | The Geneva Papers |
| 掲載区分 | 国外 |
| 巻・号・頁 | 38(3),pp.449-468 |
| 国際共著 | 国際共著 |
| 著者・共著者 | Atsushi Takao,Takuya Yoshizawa,Shuofen Hsu,Takashi Yamasaki |
| 概要 | The Great East Japan Earthquake of 11 March 2011 incurred huge damages for Japan. This paper investigates how this earthquake influenced the value of Japanese insurance companies, especially non-life insurance companies. Our findings are as follows. (1) The stock prices of insurance companies decreased right after the earthquake. The spread of this decrease was less for the stock prices of non-life insurance companies than for those of life insurance companies. (2) The more capital buffer a non-life insurance company had, the higher the stock return. (3) The Earthquake Insurance System on Dwelling Risks in Japan not only indemnifies seismic losses but also functions as a Japanese stock market stabiliser. © 2013 The International Association for the Study of Insurance Economics. |
| DOI | 10.1057/gpp.2012.34 |
| ISSN | 1018-5895 |