The impact of the financial crisis on the dividend policy of the european insurance industry: additional empirical evidence

Abstract

This paper re-examines the dividend policy of European insurance companies by also considering inflation. More specifically, a variant of the approach introduced by Goddard et al. (2006)—which was suggested by Reddemann et al. (2010)—is used. The data sample examined here is adjusted to avoid possible problems with structural change. Additionally, more recent data (of course) is also considered. Thereby, this empirical study is focussing more strongly on the experiences in crisis and post-crisis times. This seems to affect the results.