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        <dc:title>The financial leverage of Insurers subject to price regulation: evidence from Canada</dc:title>
        <dc:creator>Strauss, Jason David</dc:creator>
        <dc:subject>G22 - Insurance ; Insurance Companies ; Actuarial Studies</dc:subject>
        <dc:subject>G32 - Financing Policy ; Financial Risk and Risk Management ; Capital and Ownership Structure ; Value of Firms ; Goodwill</dc:subject>
        <dc:subject>G28 - Government Policy and Regulation</dc:subject>
        <dc:subject>G33 - Bankruptcy ; Liquidation</dc:subject>
        <dc:description>The variation in the degree of price regulation in the property-liability insurance market in Canada varies across time and space, creating an opportunity to test a recurring theory in regulatory economics: that price regulated firms have higher levels of financial leverage. Using an instrumental variable for the stringency of price-regulation, this paper utilizes a panel data set of Canadian property-liability insurers over ten years of time, 1997-2006. The results support the theory but do not conclude on whether the increase in financial leverage is a strategic decision or a natural reaction to worsening business conditions brought-on by price-regulation.</dc:description>
        <dc:date>2008-09-30</dc:date>
        <dc:type>MPRA Paper</dc:type>
        <dc:type>NonPeerReviewed</dc:type>
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        <dc:language>en</dc:language>
        <dc:identifier>https://mpra.ub.uni-muenchen.de/10845/3/MPRA_paper_10845.pdf</dc:identifier>
        <dc:identifier>  Strauss, Jason David  (2008): The financial leverage of Insurers subject to price regulation: evidence from Canada.    </dc:identifier>
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