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Effects of Director and Officer Liability Insurance Coverage on Information Disclosure Quality and Corporate Fraud

Author

Listed:
  • Cheng-Hwai Liou
  • Jo-Lan Liu
  • Pu-Ming Jian
  • Ching-Chieh Tsai

Abstract

We empirically test the monitoring role of director and officer (D&O) insurance coverage by investigating the association between D&O insurance coverage and the information disclosure quality and incidence of corporate fraud for firms listed in Taiwan. The empirical evidence reveals that a firm may raise the quality of information disclosure by purchasing D&O insurance. However, the empirical results do not support the monitoring effect of D&O insurance coverage on corporate fraud.

Suggested Citation

  • Cheng-Hwai Liou & Jo-Lan Liu & Pu-Ming Jian & Ching-Chieh Tsai, 2017. "Effects of Director and Officer Liability Insurance Coverage on Information Disclosure Quality and Corporate Fraud," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 53(4), pages 806-818, April.
    • Handle: RePEc:mes:emfitr:v:53:y:2017:i:4:p:806-818
    DOI: 10.1080/1540496X.2016.1141647
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    Cited by:

    1. Songlian Tang & Lingfei He & Fei Su & Xiaoyun Zhou, 2024. "Does directors' and officers' liability insurance improve corporate ESG performance? Evidence from China," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 29(3), pages 3713-3737, July.
    2. Liao, Tsai-Ling & Chuang, Hwei-Lin & Wang, Jo-Yu, 2022. "Directors' and officers’ liability insurance and the pricing of seasoned equity offerings," International Review of Economics & Finance, Elsevier, vol. 80(C), pages 12-26.
    3. Yao, Wenyun & Wei, Jiahui & Shen, Yongjian & Deng, Yan & Kutan, Ali M., 2020. "Does celebrity spokesperson signal firm performance? Evidence from a drug scandal in China," Finance Research Letters, Elsevier, vol. 34(C).

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