| Budget Amount *help |
¥3,900,000 (Direct Cost: ¥3,000,000、Indirect Cost: ¥900,000)
Fiscal Year 2018: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Fiscal Year 2017: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Fiscal Year 2016: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2015: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
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| Outline of Final Research Achievements |
The aim of this research project is to clarify the following questions about the relation between catastrophes caused by natural disasters and insurance companies: (1) what factors of catastrophes influence the firm values of insurance companies, (2) whether the effect of catastrophes on the firm values differs according to the characteristics of insurance companies.
The conclusions of these questions are as follows. (1) There is a possibility that insurance companies gain from the occurrence of natural disasters and their firm values increase. However, they tend to decrease when natural disasters cause serious damage. (2) Insurance companies with a larger capital buffer or of greater financial soundness are evaluated relatively higher around natural disasters especially since the deregulation of the insurance industry.
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