Xu, R., Y. Zheng——Actual Problems of Economics: On the Corporate Demand for Directors' and Officers' Insurance in China
时间:2012-11-18
Using a sample of Chinese listed firm with announcements of seeking D&O insurance, we find evidence to support that directors and officers with higher risk aversion will induce the listed firm to be more likely to purchase the D&O insurance, using the risk aversion measures such as working backgrounds, foreign share issues and controlling shareholder backgrounds. Our empirical results also reject the higher risk hypothesis, even using the same time period data with Zou et al. (2008). This resear