Article
The market valuation and trading volume effects of the creation of the florida hurricane catastrophe fund on property-liability insurers
USF St. Petersburg campus Faculty Publications
Document Type
Article
Publication Date
2001
Disciplines
- Accounting and
- Business
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)
Language
en_US
Publisher
Wiley-Blackwell Publishing Ltd.
Creative Commons License
Creative Commons Attribution-Noncommercial-No Derivative Works 4.0
Citation Information
Pacini, C., & Marlett, D. C. (2001). The market valuation and trading volume effects of the creation of the florida hurricane catastrophe fund on property-liability insurers. Journal of Business Finance & Accounting, 28(3/4), 407-445.
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.