Asymmetric Information and Marketing Channel Choice
| Autor: | Shu Hui Hsieh, 謝淑慧 |
|---|---|
| Rok vydání: | 2013 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 101 This dissertation concludes two parts to examine the asymmetric information and marketing channel choice. Part A, using a unique data set from Taiwan’s automobile liability insurance, this paper tests the screen mechanism hypothesis proposed by Venezia et al. (1999). Results reveal that a positive channel-claim correlation exists in the sub-samples of cars aged more than three years. Significant positive channel-claim correlation indicates that high-risk policyholders prefer to purchase insurance from an independent agent, whereas those with lower risks tend to buy insurance from direct writer channels. Results support the screen mechanism hypothesis and demonstrate that marketing channel choice could serve as a screening mechanism in an insurance market characterized by asymmetric information. Part B, using 1,063 repeat sales of art from 24,200 art transactions in Hong Kong, Taiwan, and China from 1994 to 2009. This study indicated that Asian contemporary and Chinese 20th century modern art has higher returns, low correlation and systematic risk with stock markets to demonstrate the attractive assets for portfolio diversification. In addition, the Asian contemporary and modern art market indicated the existence of a ‘‘masterpiece effect,” but no solid evidence was determined to show a “main auctions effect” and “same auctions effect” by asymmetric information. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
| Externí odkaz: |
|