Paperback Edition
Paperback
144 pages
$19.95
Choose vendor to order paperback edition
BrownWalker Press Amazon.com Barnes & Noble Harvard Book Store Return policy
PDF eBook
Sample Preview
Size 121k
Free
Download a sample of the first 25 pages
Download Preview

Entire PDF eBook
405k
$17
Get instant access to an entire eBook
Buy PDF Password Download Complete PDF
eBook editions

Two Essays in Finance

Market Response to Catastrophic Losses on the Insurance Industry and Return on Investment of the University of Illinois to the State of Illinois Treasury

by Ward R. Kangas
small book icon  Paperback   small ebook icon   eBook PDF
Publisher:  Dissertation
Pub date:  1997
Pages:  144
ISBN-10:  1581120044
ISBN-13:  9781581120042
Categories:  Economics  Business & Economics  Education

Abstract

Based on data on publicly traded insurance firms, the first essay examines questions about the effect of large catastrophic events on insurance firms. Rather than looking at a single event, thirty catastrophic events were aggregated into quintiles and the cumulative abnormal returns around these events were found to be significantly positive over a 25 day trading window. There is no significant evidence that post-catastrophic stock returns are correlated to the magnitude of the catastrophe.

The second essay analyzes the effect of a large land grant university, the University of Illinois, on the State Treasury of Illinois. If the State Treasury were acting as its own agent trying to maximize revenues, would it choose higher education as an investment versus other alternative investments. While it is true the State makes large expenditures for the operations of the University, it is also true that individuals receiving degrees on average receive higher incomes. Taxes or higher incomes offset the cost of operating the University. The study is broken out by the level of student: undergraduate, masters, doctorate, medical professional, and by function of the University. It was found that all levels of education have a positive return not only for the individual, but also for the State Treasury. This is in excess of any non-pecuniary benefits to the State of having a better educated population, or the local taxation effects on the county or city where the campus is located. These returns are found to be higher than other types of investments.



Paperback Edition
Paperback
144 pages
$19.95
Choose vendor to order paperback edition
BrownWalker Press Amazon.com Barnes & Noble Harvard Book Store Return policy
PDF eBook
Sample Preview
Size 121k
Free
Download a sample of the first 25 pages
Download Preview

Entire PDF eBook
405k
$17
Get instant access to an entire eBook
Buy PDF Password Download Complete PDF
eBook editions
Share this book



Relevant events
SEP
21
BIOTECHVISION
BioTechVision 2026 – International Summit on Biomedical Engineering and Biotechnology We are delighted to welcome you to all researchers, scientists, academicians, engineers, and professionals to attend BioTechVision 2026 – International Summit on Biomedical Engineering and Biotechnology, scheduled for Sept...
BioTechVision 2026 – International Summit on Biomedical Engineering and Biotechnology We are delighted to welcome you to all researchers, scientists, academicians, engineers, and professionals to attend BioTechVision 2026 – Internati...
BioTechVision 2026 – International Summit on Biomedical Engineering and Biotechnology We are delighted to welcome you to all researchers, scientists, academici...
21 - 23 Sep 2026
Barcelona,, Spain
OCT
6
QS Discover Master's and MBA Fair in Dallas Master's candidates register at this link: https://bit.ly/4lCc0oJ MBA candidates register at this link: https://bit.ly/4lCc0oJ Discover your ideal graduate or business school. Take advantage of our exclusive networki...
QS Discover Master's and MBA Fair in Dallas Master's candidates register at this link: https://bit.ly/4lCc0oJ MBA candidates register at this link: https://bit.ly/4lCc0oJ Discover your ...
QS Discover Master's and MBA Fair in Dallas Master's candidates register at this link: https://bit.ly/4lCc0oJ MBA ...
QS Discover Master's and MBA Fair in Dallas Master's candidates register at this link: https...
06 - 06 Oct 2025
Dallas, United States
OCT
7
QS Discover Master's and MBA in Houston Master's candidates register at this link: https://bit.ly/4ktXkqC MBA candidates register at this link: https://bit.ly/3TlAkyZ Discover your ideal graduate or business school. Take advantage of our exclusive networki...
QS Discover Master's and MBA in Houston Master's candidates register at this link: https://bit.ly/4ktXkqC MBA candidates register at this link: https://bit.ly/3TlAkyZ Discover your ...
QS Discover Master's and MBA in Houston Master's candidates register at this link: https://bit.ly/4ktXkqC MBA ...
QS Discover Master's and MBA in Houston Master's candidates register at this link: https...
07 - 07 Oct 2025
Houston, United States
OCT
7
THE World Academic Summit Delegates will convene at our flagship event to focus on the role of universities as active agents of progress and change. Join some of the world's most inspiring thought leaders and influential change-makers to explore...
THE World Academic Summit Delegates will convene at our flagship event to focus on the role of universities as active agents of progress and change. Join some of the worl...
THE World Academic Summit Delegates will convene at our flagship event to focus on the role of univ...
THE World Academic Summit Delegates will convene at our flagship event to ...
07 - 09 Oct 2025
Makkah Province, Saudi Arabia
OCT
9
QS Discover Master's and MBA in San Antonio Master's candidates register at this link: https://bit.ly/4klUMe5 MBA candidates register at this link: https://bit.ly/44vBvBe Discover your ideal graduate or business school. Take advantage of our exclusive networki...
QS Discover Master's and MBA in San Antonio Master's candidates register at this link: https://bit.ly/4klUMe5 MBA candidates register at this link: https://bit.ly/44vBvBe Discover your ...
QS Discover Master's and MBA in San Antonio Master's candidates register at this link: https://bit.ly/4klUMe5 MBA ...
QS Discover Master's and MBA in San Antonio Master's candidates register at this link: https...
09 - 09 Oct 2025
San Antonio, United States
OCT
11
QS Discover Master's and MBA Fair in Charlotte Master's candidates register at this link: https://bit.ly/45cJEwp MBA candidates register at this link: https://bit.ly/3ES2fTq Discover your ideal graduate or business school. Take advantage of our exclusive networki...
QS Discover Master's and MBA Fair in Charlotte Master's candidates register at this link: https://bit.ly/45cJEwp MBA candidates register at this link: https://bit.ly/3ES2fTq Discover your ...
QS Discover Master's and MBA Fair in Charlotte Master's candidates register at this link: https://bit.ly/45cJEwp MBA ...
QS Discover Master's and MBA Fair in Charlotte Master's candidates register at this link: https...
11 - 11 Oct 2025
Charlotte, United States
OCT
13
IHE US Universities Summit 2025 This invitation-only summit brings together just 150 Presidents, Chancellors, and Provosts from leading institutions across United States. It is a deliberately intimate gathering designed for strategic dialogue and conf...
IHE US Universities Summit 2025 This invitation-only summit brings together just 150 Presidents, Chancellors, and Provosts from leading institutions across United States. It is...
IHE US Universities Summit 2025 This invitation-only summit brings together just 150 Presidents, Chancell...
IHE US Universities Summit 2025 This invitation-only summit brings together just...
13 - 14 Oct 2025
Hoboken, United States
OCT
14
QS Discover Master's and MBA Fair in Atlanta Master's candidates register at this link: https://bit.ly/41xICt1 MBA candidates register at this link: https://bit.ly/4jdJl7U Discover your ideal graduate or business school. Take advantage of our exclusive networki...
QS Discover Master's and MBA Fair in Atlanta Master's candidates register at this link: https://bit.ly/41xICt1 MBA candidates register at this link: https://bit.ly/4jdJl7U Discover your ...
QS Discover Master's and MBA Fair in Atlanta Master's candidates register at this link: https://bit.ly/41xICt1 MBA ...
QS Discover Master's and MBA Fair in Atlanta Master's candidates register at this link: https...
14 - 14 Oct 2025
Atlanta, United States
OCT
15
NexGen Banking Summit 15th - 16th, October, 2025 Join us on October 15th-16th, 2025, at the Hilton Hotel in London for the first-ever summit focused on how Generative AI is changing banking! With 78% of banks already using or planning to use this technology, it’s clear t...
NexGen Banking Summit 15th - 16th, October, 2025 Join us on October 15th-16th, 2025, at the Hilton Hotel in London for the first-ever summit focused on how Generative AI is changing banking! With ...
NexGen Banking Summit 15th - 16th, October, 2025 Join us on October 15th-16th, 2025, at the Hilton Hotel in London for the...
NexGen Banking Summit 15th - 16th, October, 2025 Join us on October 15th-16th, 2025, at the Hilto...
15 - 16 Oct 2025
London, United Kingdom
OCT
16
QS Discover Master's and MBA Fair in Chicago on 16 October 2025 Master's candidates register at this link: https://bit.ly/3TVITAF MBA candidates register at this link: https://bit.ly/3TVITAF Discover your ideal graduate or business school. Take advantage of our exclusive networki...
QS Discover Master's and MBA Fair in Chicago on 16 October 2025 Master's candidates register at this link: https://bit.ly/3TVITAF MBA candidates register at this link: https://bit.ly/3TVITAF Discover your ...
QS Discover Master's and MBA Fair in Chicago on 16 October 2025 Master's candidates register at this link: https://bit.ly/3TVITAF MBA ...
QS Discover Master's and MBA Fair in Chicago on 16 October 2025 Master's candidates register at this link: https...
16 - 16 Oct 2025
Chicago, United States