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Governance and Performance in Insurance Companies: A Bibliometric Analysis and A Meta-Analysis

Author

Listed:
  • Luisa Anderloni
  • Ornella Moro
  • Alessandra Tanda

Abstract

This paper provides a review of theoretical contributions and empirical studies on the external and internal mechanisms of corporate governance of insurance companies and their effects on performance and/or risk. Thanks to the analysis of the studies published between 1985 and 2019 through bibliometric tools, we are able to illustrate the networks of scientific collaborations (co-authorship) and relationships between the most used terms, also highlighting the most significant groups of scholars and research strands. Additionally, the paper carries out a meta-analysis of around thirty quantitative articles that show a relationship between the quantitative-qualitative characteristics of the Board of Directors and the performance of the insurance company. The empirical studies show a consensus on the positive contribution of board size and the presence of independent directors on performance. Moreover, insurance research networks do not appear to be very interconnected, especially as regards to emerging markets. The paper also provides a useful starting point for future research aimed at defining the specificities of the governance-performance relationship of insurance companies within an evolving regulatory and market framework.

Suggested Citation

  • Luisa Anderloni & Ornella Moro & Alessandra Tanda, 2020. "Governance and Performance in Insurance Companies: A Bibliometric Analysis and A Meta-Analysis," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 12(11), pages 1-1, November.
    • Handle: RePEc:ibn:ijefaa:v:12:y:2020:i:11:p:1
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    References listed on IDEAS

    as
    1. Jennifer L Wang & Vivian Jeng & Jin Lung Peng, 2007. "The Impact of Corporate Governance Structure on the Efficiency Performance of Insurance Companies in Taiwan," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 32(2), pages 264-282, April.
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    3. Adams, Mike & Jiang, Wei, 2016. "Do outside directors influence the financial performance of risk-trading firms? Evidence from the United Kingdom (UK) insurance industry," Journal of Banking & Finance, Elsevier, vol. 64(C), pages 36-51.
    4. Steve Lin & Peter F. Pope & Steven Young, 2003. "Stock Market Reaction to the Appointment of Outside Directors," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 30(3‐4), pages 351-382, April.
    5. David L. Eckles & Martin Halek & Enya He & David W. Sommer & Rongrong Zhang, 2011. "Earnings Smoothing, Executive Compensation, and Corporate Governance: Evidence From the Property–Liability Insurance Industry," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 78(3), pages 761-790, September.
    6. David Mayers & Clifford W. Smith, 2010. "Compensation and Board Structure: Evidence From the Insurance Industry," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 77(2), pages 297-327, June.
    7. Adams, Mike & Hossain, Mahmud, 1998. "Managerial discretion and voluntary disclosure: Empirical evidence from the New Zealand life insurance industry," Journal of Accounting and Public Policy, Elsevier, vol. 17(3), pages 245-281.
    8. Lamm-Tennant, Joan & Starks, Laura T, 1993. "Stock versus Mutual Ownership Structures: The Risk Implications," The Journal of Business, University of Chicago Press, vol. 66(1), pages 29-46, January.
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    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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