Welcome to the ARIA 2021 Annual Meeting Agenda App. You are seeing this in simple view. Click on any session to see Presenters, Discussants and a Session Description. Click on Presenters to find a single presenter and their sessions. If you find an error, please email gphillips@aria.org. Registrants have been added and will continue to be updated until 7/29/21 when registration closes. Zoom links will be shared directly with all participants two days prior to the conference. Please make notifications@sched.com a "safe sender" in your email system. We will be sending messages throughout the conference through this medium.
This study examines the effectiveness of internal corporate governance mechanisms on firm cash holdings in the U.S. property casualty insurance industry from 2007 to 2015. We focus on the impact of outside directors on the cash holdings in relation to the ownership structure in the U.S. insurance industry. We examine whether the independence of board of directors and ownership structure are effective internal corporate governance mechanisms in eliminating agency conflicts between owner and managers over cash holdings. The results will confirm whether independent board members play a role in monitoring managers’ spending behavior. Additionally, we investigate whether stock insurance firms have comparative advantage in eliminating agency conflicts between owner and managers over cash holdings than mutual insurance firms. This study will also examine whether board composition and ownership structure are substitute control mechanisms in eliminating agency conflicts over excess cash holdings.
