Wpływ determinant na credit rating ubezpieczycieli - zobowiązania wyrażone w walucie krajowej i zagranicznej

• Autorzy: Patrycja Chodnicka-Jaworska

Warianty tytułu

Impact of Determinants on Insurance Companies' Credit Ratings - Domestic and Foreing Currency Liabilities

• Języki publikacji: PL

Abstrakty

Celem artykułu jest zbadanie wpływu wskaźników finansowych oraz uwarunkowań makroekonomicznych na credit rating ubezpieczycieli z uwzględnieniem waluty, w jakiej wyrażone zostały zobowiązania. Przeprowadzono badania literaturowe i na ich podstawie postawiono dwie hipotezy badawcze: 1) credit rating ubezpieczycieli uwarunkowany jest istotnym statystycznie wpływem wskaźników adekwatności kapitałowej, jakości aktywów, jakości zarządzania, zyskowności i płynności; 2) credit rating kraju i uwarunkowania makroekonomiczne wpływają istotnie na credit rating dotyczący zobowiązań wyrażonych w walucie zagranicznej, a są nieistotne w ocenie credit ratings dotyczących zobowiązań wyrażonych w walucie krajowej. Do badania wykorzystano uporządkowane logitowe modele panelowe. Dane zebrano z bazy Thomson Reuters dla lat 1995-2016. Jako zmienną zależną zastosowano długoterminowe ratingi emitenta dotyczące zobowiązań wyrażonych w walucie krajowej i zagranicznej.(abstrakt oryginalny)

EN

The aim of the paper is to examine the impact of financial indicators and macroeconomic conditions on the insurers' credit ratings, taking into account the currency in which liabilities were expressed. Literature research was carried out and based on them, two hypotheses were put out: 1) The insurance companies' credit ratings are conditioned by statistically significant impact of capital adequacy ratios, asset quality, management quality, profitability and liquidity ratios; 2) The country's credit ratings and macroeconomic conditions have a significant impact on the insurance companies' credit ratings of liabilities expressed in foreign currency, and are irrelevant in the assessment of credit ratings related to liabilities denominated in the national currency. The ordered logit panel data models were used. Data were collected from the Thomson Reuters database for the years 1995-2016. The long-term foreign and domestic issuer's credit ratings were used as the dependent variable.(original abstract)

Słowa kluczowe

PL

Ocena zdolności kredytowej; Instytucje ubezpieczeniowe; Modele panelowe

EN

Credit rating; Insurance institute; Panel model

• Czasopismo: Nauki o Finansach / Uniwersytet Ekonomiczny we Wrocławiu
• Rocznik: 2017
• Numer: nr 3 (32)
• Strony: 40--55

Twórcy

autor

Patrycja Chodnicka-Jaworska

• Uniwersytet Warszawski

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Identyfikatory

DOI

10.15611/nof.2017.3.03