Journal of Insurance and Finance 2021 KCI Impact Factor : 0.67

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pISSN : 2384-3209

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2019, Vol.30, No.4

  • 1.

    Analysis of Financial Value by Participant Age of Reverse Mortgage

    Choi, Kyung-jin , Sung Jooho , Keewhan Sung | 2019, 30(4) | pp.3~29 | number of Cited : 0
    Abstract PDF
    This study estimates the financial value of living stability, bequest and resident stability at the time of purchasing reverse mortgage. The financial value of living stability increase but that of resident stability decreases with the age of borrower. Increases in survival of 70-year-old are directly related to the present value of living and resident stability, but inversely related to that of bequest. With increases in mortgage rate, the present value of bequest decreases but that of resident stability increases. With increases in housing prices, both the present value of bequest and that of resident stability increases. This study is significant that it assesses the present value and financial effects of bequest and resident stability in addition to monthly payment.
  • 2.

    The Effects of Protected Depositors’ Proportion on Savings Banks Default Risk: Outside Directors’ Social Relation with CEO and Academic Expertise

    Sungsoo Ha , Kim Hakkon | 2019, 30(4) | pp.31~61 | number of Cited : 3
    Abstract PDF
    The purpose of this study is to investigate the effect of protected depositors’ proportion on the default risks of savings banks. This study also analyzes how the social relation between CEO and outside directors and academic expertise of outside directors effect on the relationship between protected depositor ratio and default risks. The empirical results are summarized as follows. First, the proportion of protected depositors has a significant and positive effect on default risk. Second, the positive relationship between protected depositor ratio and default risks is higher in the group where social relation (between CEO and outside directors) is strong than weak group. Third, the academic expertise level of outside directors does not have a discriminatory effect on the relationship between protected depositors’ proportion and savings banks' default risks. Our results suggest that savings banks with a high proportion of protected depositors who has low incentive to monitor savings banks have a high probability of insolvency.
  • 3.

    A Theory and Practice on the Association between Risk Aversion and Insurance Consumption

    KIM DAEHWAN | 2019, 30(4) | pp.63~86 | number of Cited : 2
    Abstract PDF
    Attempts have been made to prove empirically the theoretical hypotheses since the development of economics of insurance theory that the stronger the risk averse propensity, the greater the demand for insurance products. However, previous studies that attempted empirical analyses had limitations due to the limitation of the data, hardness to generalize the results, or the absence of a separate questionnaire to measure the risk aversion of an individual. On the other hand, this study utilizes the National Survey of Tax and Benefit that represents a population while there is a separate questionnaire to measure the risk aversion of an individual. The empirical results show that the stronger the risk averse propensity, the greater the demand for insurance products to hedge the risk of injury, illness, and death. As a result of further analysis of whether the questionnaire properly measures the individual's actual hedging propensity compared to a number of related studies, it was concluded that the hedging propensity variable is reliable information. Nevertheless, the risk aversion is measured using only one questionnaire, so the reliability or validity of the measurement may be low.
  • 4.

    An Analysis of the Influence of Customer Relationship Building Types of Insurance Salesperson on Customer Commitment Using Structural Equation

    Hyun Min Kim , Heuiju Chun , Park Chan Wook | 2019, 30(4) | pp.87~112 | number of Cited : 3
    Abstract PDF
    This study divides the types of customer relationship buildings required for long-term relationships of insurance salesperson with customers into business relationship building and social relationship building. After identifying the types of behaviors of salesperson that affect the type of customer relationship building, we examine the impact of customer relationship type on customer commitment through the structural equation. Salesperson need to focus more on business relationship building to form long-term relationships with customers, and for that purpose, the action factors of customer relationship building include effective approaching, common grounding and networking behavior. Social relationship building has also been shown to have a significant impact on business relationship building, and both business and social relationship building have significant implications for customer commitment. The research finds that salesperson should work harder on forming business relationship building and that it is effective to continue to carry out business relationship building combined with social relationship building.