@article{ART001101229},
author={Kim Jae-Hyun},
title={Explanatory Factors in Non-Life Insurer's Dividend Policy},
journal={Journal of Insurance and Finance},
issn={2384-3209},
year={2005},
volume={16},
number={1},
pages={33-63}
TY - JOUR
AU - Kim Jae-Hyun
TI - Explanatory Factors in Non-Life Insurer's Dividend Policy
JO - Journal of Insurance and Finance
PY - 2005
VL - 16
IS - 1
PB - Korea Insurance Research Institute
SP - 33
EP - 63
SN - 2384-3209
AB - This research identifies factors that explain Korean non-life i nsurance companies’dividend policy for the last fifteen years. We use growth rate, capital adequacy,ownership, foreign investors’stake, and dividend history. Empir ical analysis findsthat payout ratio has positive and negative relationships with growth rate anddividend history, respectively. This finding reveals that non-l ife insurers have notperformed a optimal dividend policy. However, after 1999 non-li fe insurers’payoutratio is being affected by investment opportunities and capital adequacyrequirements. Owners stake is not important factor to determine the divided yield,while foreign investors stake has a positive relationship with payout ratio. Thissuggests a pressure to increase dividend yield from foreign inv estors to Korean non-life insurance industry. However, we also recognize a possibili ty for foreigninvestment attracted by high dividend policy of large non-life insurers. In the otherhand, this research confirms an evidence of “Too big to fail”in the dividend policyperspectives.
KW - Dividend policy;Non-Life insurance;Foreign investment;Ownership structure
DO -
UR -
ER -
Kim Jae-Hyun. (2005). Explanatory Factors in Non-Life Insurer's Dividend Policy. Journal of Insurance and Finance, 16(1), 33-63.
Kim Jae-Hyun. 2005, "Explanatory Factors in Non-Life Insurer's Dividend Policy", Journal of Insurance and Finance, vol.16, no.1 pp.33-63.
Kim Jae-Hyun "Explanatory Factors in Non-Life Insurer's Dividend Policy" Journal of Insurance and Finance 16.1 pp.33-63 (2005) : 33.
Kim Jae-Hyun. Explanatory Factors in Non-Life Insurer's Dividend Policy. 2005; 16(1), 33-63.
Kim Jae-Hyun. "Explanatory Factors in Non-Life Insurer's Dividend Policy" Journal of Insurance and Finance 16, no.1 (2005) : 33-63.
Kim Jae-Hyun. Explanatory Factors in Non-Life Insurer's Dividend Policy. Journal of Insurance and Finance, 16(1), 33-63.
Kim Jae-Hyun. Explanatory Factors in Non-Life Insurer's Dividend Policy. Journal of Insurance and Finance. 2005; 16(1) 33-63.
Kim Jae-Hyun. Explanatory Factors in Non-Life Insurer's Dividend Policy. 2005; 16(1), 33-63.
Kim Jae-Hyun. "Explanatory Factors in Non-Life Insurer's Dividend Policy" Journal of Insurance and Finance 16, no.1 (2005) : 33-63.
