Joy Jia

Swansea University | SWAN · Accounting and Finance

This paper explores how liquidity in the UK rental markets reacts to variations in demand across time and space. We employ a survival analysis approach with a non-parametric hazard rate to investigate whether the probability of a property to exit the market changes across calendar months. Our unique dataset comes from Zoopla.com and contains 300,19...

We investigate the effect of risk management (reinsurance) on the corporate cost of equity using panel data drawn from the United Kingdom’s (UK) non-life insurance industry. Our results show that use of reinsurance lowers the cost of equity but that the relation is non-linear. We find that the rate of reduction declines as the level of premiums ced...

This study examines whether the ‘managerial entrenchment’ problem resulting from the separation of ownership and control between the shareholders and managers of Chinese firms motivates the decision to purchase property insurance. Managerial entrenchment is measured using a principal component analysis (PCA)-derived index and our analysis is conduc...

In this study we examine the effect of ownership structure on the decision of Indian firms to purchase property insurance. We find that firms with a high degree of managerial ownership and leverage, plus firms with high growth options, high asset tangibility, and public listing status are more likely to insure their assets than other entities. We a...

We test two competing arguments regarding the influence of organisational form on underwriting performance using data from the Swedish fire insurance industry for the years 1889 to 1939 – a period of both economic growth and stagnation. Since mutuality is a response to information asymmetry problems, mutual insurers are expected to report lower ann...

We use the agency theory to conduct a novel test of the strategic use of property insurance in China's corporate sector. With regard to our main test hypotheses, we find that the incidence of property insurance purchased is directly related to the degree of product-market competitiveness, and positively related to market liquidity and firms' growth...