教學大綱 Syllabus

課程主題

Topic

課程內容與指定閱讀

Content and Reading Assignment

教學活動與作業

Teaching Activities and Homework

學習投入時間

Student workload expectation

課堂講授

In-class Hours

課程前後

Outside-of-class Hours

1

Course introduction

Syllabus and overview

Q&A

3

4.5

2

Financial risk and its management (1)

Cummins, J. D., R. D. Phillips, and S. D. Smith, 2001, Derivatives and Corporate Risk Management: Participation and Volume Decisions in the Insurance Industry, Journal of Risk and Insurance, 68: 51-92.

Bartram, S. M., G. W. Brown, and F. R. Fehle, 2009, International Evidence on Financial Derivatives Usage, Financial Management, Spring: 185-206.

Presentation and discussion

3

4.5

3

National holiday

4

Financial risk and its management (2)

Shiu, Y., 2011, Reinsurance and Capital Structure: Evidence from the United Kingdom Non-Life Insurance Industry, Journal of Risk and Insurance, Vol. 78, Issue 2, pp. 475-494.

Bali, T. G., Hume, S. R., & Martell, T. F. (2007). A new look at hedging with derivatives: will firms reduce market risk exposure?. Journal of Futures Markets, 27, 1053-1083.

Presentation and discussion

3

4.5

5

Insurance risk and its management (1)

Case on risk management and corporate governance in the insurance

Powell, L. S. and D. W. Sommer, 2007, Internal Versus External Capital Markets in the Insurance Industry: The Role of Reinsurance, Journal of Financial Services Research, 31: 173-188.

Presentation and discussion

3

4.5

6

Insurance risk and its management (2)

Powell, S. L.,D. W. Sommer, D. L. Eckles (2008). The Role of Internal Capital Markets in Financial Intermediaries: Evidence from Insurer Groups, Journal of Risk and Insurance, 75:439-461.

Adams, M., P. Hardwick, and H. Zou, 2008, Reinsurance and Corporate Taxation in the United Kingdom Life Insurance Industry, Journal of Banking and Finance, 32: 101-115.

Presentation and discussion

3

4.5

7

Mid-term presentation

Mid-term presentation

Presentation and discussion

3

4.5

8

On-line learning (I)

TBA

9

Miscellaneous papers on risk and its management (1)

Godfrey, P.C., C.B. Merrill and J.M. Hansen (2009), ‘The Relationship between Corporate Social Responsibility and Shareholder Value: An Empirical Test of the Risk Management Hypothesis’, Strategic Management Journal, 30(4):425-45.

Koh, P., C. Qian and H. Wang, 2014, Firm litigation risk and the insurance value of corporate social performance, Strategic Management Journal, 35: 1464-1482.

Presentation and discussion

3

4.5

10

On-line learning (II)

TBA

11

Miscellaneous papers on risk and its management (2)

Lang L, Stulz R. 1992. Contagion and competitive intra industry effects of bankruptcy announcements: an empirical analysis. Journal of Financial Economics, 32(1): 45-60.

Liebenberg, A. and R. Hoyt, 2003, The Determinants of Enterprise Risk Management: Evidence from the Appointment of Chief Risk Officers, Risk Management and Insurance Review, 6(1): 37-52.

Presentation and discussion

3

4.5

12

Miscellaneous papers on risk and its management (3)

Pagach, D. and R. Warr, 2011, The Characteristic of Firms that Hire Chief Risk Officers, Journal of Risk and Insurance, 78 (1): 185-211.

John, K., L. Litov, and B. Yeung, 2008, Corporate Governance and Risk-Taking, Journal of Finance, 63: 1679-1728.

Presentation and discussion

3

4.5

13

Miscellaneous papers on risk and its management (4)

Luo, J., A. Kaul and H. Seo (2018):Winning us with Trifles: Adverse Selection in the Use of Philanthropy as Insurance, Strategic Management Journal, 39: 2591-2617.

Shiu, Yung-Ming* and Shou-Lin Yang (2017): Does Engagement in Corporate Social Responsibility Provide Strategic Insurance-like Effects? Strategic Management Journal, 38(2): 455-470.

Presentation and discussion

3

4.5

14

Miscellaneous papers on risk and its management (5)

Minor, D.B. and J. Morgan (2011), ‘CSR as Reputation Insurance: Primum Non Nocere’, California Management Review, 53(3): 40-59.

Peloza, J. (2006), ‘Using Corporate Social Responsibility as Insurance for Financial Performance’, California Management Review, 48: 52-72.

Presentation and discussion

3

4.5

15

Guest speech

TBA

16

Final presentation (I)

Final presentation

Presentation and discussion

3

4.5

17

Final presentation (II)

Final presentation

Presentation and discussion

3

4.5

附註：每週上課內容，會因上課進度與主題重要性，由授課教師機動調整。