Earnings management under changing regulatory regimes: state accreditation in the insurance industry

A.M. Best Company, 1991. Best’s Insolvency Study: Property/Casualty Insurers 1969–1990. A.M. Best Company, Inc., Oldwick, NJ American Institute of Certified Public Accountants (AICPA), 1994. AICPA Audit and Accounting Guide: Audits of Property and Liability Insurance Companies. American Institute of Certified Public Accountants, New York Barth, 1996, Capital requirements to support adverse loss development, Journal of Insurance Regulation, 14, 437 Browne, 1992, Excess returns and the underwriting cycle in the property-liability insurance market, Journal of Insurance Regulation, 11, 67 Fama, 1973, Risk, return, and equilibrium: an empirical test, The Journal of Political Economy, 81, 607, 10.1086/260061 Galloway, 1986 Gaver, 1999, Managing insurance company financial statements to meet regulatory and tax reporting goals, Contemporary Accounting Research, 16, 207, 10.1111/j.1911-3846.1999.tb00579.x Grace, 1990, Property-liability reserve errors: a theoretical and empirical analysis, The Journal of Risk and Insurance, 57, 28, 10.2307/252923 Kazenski, 1992, Empirical evidence for alternative loss development horizons and the measurement of reserve error, The Journal of Risk and Insurance, 59, 668, 10.2307/253351 Klein, 1995, Insurance regulation in transition, The Journal of Risk and Insurance, 62, 363, 10.2307/253816 National Association of Insurance Commissioners, 1995. Financial Regulation Standards and Accreditation Program. National Association of Insurance Commissioners, Kansas City, MO Petroni, 1992, Optimistic reporting in the property-casualty insurance industry, Journal of Accounting and Economics, 15, 485, 10.1016/0165-4101(92)90003-K Petroni, 1995, Taxation, regulation, and the organizational structure of property-casualty insurers, Journal of Accounting and Economics, 20, 229, 10.1016/0165-4101(95)00402-5 U.S. Congress, House of Representatives, Committee on Energy and Commerce, Subcommittee on Oversight and Investigations, 1990. Failed Promises: Insurance Company Insolvencies. U.S. Government Printing Office, Washington, DC U.S. Congress, House of Representatives, Committee on Energy and Commerce, Subcommittee on Oversight and Investigations, 1991. Insurance Company Regulation. U.S. Government Printing Office, Washington, DC U.S. Congress, House of Representatives, Committee on Energy and Commerce, Subcommittee on Oversight and Investigations, 1994. Wishful Thinking: A World View of Insurance Solvency Regulation. U.S. Government Printing Office, Washington, DC U.S. General Accounting Office (GAO), 1987. Insurer Failures: Property/Casualty Insurer Insolvencies and State Guaranty Funds. U.S. Government Printing Office, Washington, DC U.S. General Accounting Office (GAO), 1988. Insurance Company Failures: Hearings Before the Subcommittee on Oversight and Investigations, One Hundredth Congress, second session, September 14 and 15, 1988. U.S. Government Printing Office, Washington, DC. U.S. General Accounting Office (GAO), 1989a. Property and Casualty Insurance: Thrift Failures Provide Valuable Lessons. U.S. Government Printing Office, Washington, DC U.S. General Accounting Office (GAO), 1989b. Insurance Regulation: Problems in the State Monitoring of Property/Casualty Insurer Solvency. U.S. Government Printing Office, Washington, DC U.S. General Accounting Office (GAO), 1991. How Insurance Laws are Made: The NAIC and State Adoption of NAIC Model Laws. U.S. Government Printing Office, Washington, DC Weiss, 1985, A multivariate analysis of loss reserving estimates in property-liability insurers, The Journal of Risk and Insurance, 52, 199, 10.2307/252512 White, 1980, A heteroskedasticity-consistent covariance matrix estimator and a direct test for heteroskedasticity, Econometrica, 48, 817, 10.2307/1912934