https://scholars.lib.ntu.edu.tw/handle/123456789/608010| Title: | Overinvestment, ownership structure, and directors' and officers’ liability insurance | Authors: | Chiang Y.-M Chang P.-R. YAO-MIN CHIANG |
Keywords: | Directors's and officers' liability insurance;Overinvestment;Ownership structure | Issue Date: | 2022 | Journal Volume: | 78 | Start page/Pages: | 38-50 | Source: | International Review of Economics and Finance | Abstract: | This study examines the moderator effect of directors' and officers’ liability insurance (D&O insurance) on the relationship between ownership structure and overinvestment. We find that firms with D&O insurance and higher insurance coverage have a higher probability of overinvestment. These results show the D&O insurance is like a moral hazard effect. We also find evidence that the relationship between ownership structure and overinvestment is affected by D&O insurance. As well as the results support that the firms purchasing D&O insurance is moderator effect on ownership structure and overinvestment. ? 2021 |
URI: | https://www.scopus.com/inward/record.uri?eid=2-s2.0-85119402460&doi=10.1016%2fj.iref.2021.11.002&partnerID=40&md5=2ca8656a0931bfeaddaf1445ae4755bd https://scholars.lib.ntu.edu.tw/handle/123456789/608010 |
ISSN: | 10590560 | DOI: | 10.1016/j.iref.2021.11.002 |
| Appears in Collections: | 財務金融學系 |
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