Raising Cash Under Duress And The Role Of Cash Value Life Insurance: An Educational Example
نویسندگان
چکیده
منابع مشابه
Life Insurance Cash Flows with Policyholder Behavior
The problem of the valuation of life insurance payments with policyholder behavior is studied. First, a simple survival model is considered, and it is shown how cash flows without policyholder behavior can be modified to include surrender and free policy behavior by calculation of simple integrals. In the second part, a more general disability model with recovery is studied. Here, cash flows ar...
متن کاملThe Managerial Ability and Value of Cash: Evidence from Iran
This study investigates empirically the value investors place in excess cash holdingand how managerial ability impact on the value of cash holding for Iranianfirms from 2006 to 2014. In this research, managerial ability calculated by usingthe data envelopment analysis (DEA). Following the approach of Faulkender andWang, we find that the relation between managerial ability and value of cash hold...
متن کامل“the effect of risk aversion on the demand for life insurance: the case of iranian life insurance market”
abstract: about 60% of total premium of insurance industry is pertained?to life policies in the world; while the life insurance total premium in iran is less than 6% of total premium in insurance industry in 2008 (sigma, no 3/2009). among the reasons that discourage the life insurance industry is the problem of adverse selection. adverse selection theory describes a situation where the inf...
15 صفحه اولCorporate Financial Policy and the Value of Cash under Uncertainty
In this paper we provide evidence on how firm-specific and macroeconomic uncertainty affects shareholders’ valuation of a firm’s cash holdings. This extends previous work on this issue by highlighting the importance of the source of uncertainty. Our findings indicate that increases in firm-specific risk generally increase the value of cash while increases in macroeconomic risk generally decreas...
متن کاملOption Value of Cash∗
Using a dynamic model of heterogeneous beliefs where investors agree to disagree, this paper shows: (i) beliefs may diverge, which prevents pessimists from providing liquidity. This prediction is supported by the analyst target price forecasts for ten major banks during the crisis since 2007; (ii) in the case that beliefs cross (i.e., pessimists become more optimistic than the initial optimists...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: American Journal of Business Education (AJBE)
سال: 2018
ISSN: 1942-2512,1942-2504
DOI: 10.19030/ajbe.v11i2.10141