THE CAPITAL STRUCTURE: AN ANALYSE ON INSURANCE COMPANIES
Autor(a) principal: | |
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Data de Publicação: | 2010 |
Outros Autores: | , , |
Tipo de documento: | Artigo |
Idioma: | por |
Título da fonte: | ConTexto |
Texto Completo: | https://seer.ufrgs.br/index.php/ConTexto/article/view/16127 |
Resumo: | The capital structure of firms depends on their various activities and on the economy where they are located. These firms can finance capital with own resources (equity) or borrowing money in market (passive) in the short or long term. However, some of these activities do not depend on his wishes because there taxes and periods are determined by the government or donors. The capital structure is also influenced by the main activities of the companies, their investments and changes in sales. It is important to say that the operations in an insurance run with a lower risk than in other industrial or financial company, because it always gets the prize before any payment resulting from a claim, ie, its cash flow is always positive. Moreover, large part of its liabilities is made up of technical reserves, which are reserves that the insurer made to cover any disbursement of compensation. Then it can be assumed that the share of debt that required the same need is low or absent, compared with the rest of the market. This article aims to analyze the capital structure of companies insurers, as well as detailing whether there are peculiarities in comparison with other business enterprises. For this, it was carried out a literature review about general concepts of capital structure and insurance market, then it was performed a survey containing conclusions on how such a phenomenon presents the insurers. The main evidence of this study was to characterized the insurers liability that is mainly constituted by technical provisions. Such provisions are derived from the primary operation of the companies because it is a reserve for future payments then the companies should make in case of probable occurrence of accidents. |
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THE CAPITAL STRUCTURE: AN ANALYSE ON INSURANCE COMPANIESESTRUTURA DE CAPITAL: UMA ANÁLISE EM EMPRESAS SEGURADORASEstrutura de capitalSeguradoraProvisões técnicasCapital structureInsurance companiesTechnical provisionsThe capital structure of firms depends on their various activities and on the economy where they are located. These firms can finance capital with own resources (equity) or borrowing money in market (passive) in the short or long term. However, some of these activities do not depend on his wishes because there taxes and periods are determined by the government or donors. The capital structure is also influenced by the main activities of the companies, their investments and changes in sales. It is important to say that the operations in an insurance run with a lower risk than in other industrial or financial company, because it always gets the prize before any payment resulting from a claim, ie, its cash flow is always positive. Moreover, large part of its liabilities is made up of technical reserves, which are reserves that the insurer made to cover any disbursement of compensation. Then it can be assumed that the share of debt that required the same need is low or absent, compared with the rest of the market. This article aims to analyze the capital structure of companies insurers, as well as detailing whether there are peculiarities in comparison with other business enterprises. For this, it was carried out a literature review about general concepts of capital structure and insurance market, then it was performed a survey containing conclusions on how such a phenomenon presents the insurers. The main evidence of this study was to characterized the insurers liability that is mainly constituted by technical provisions. Such provisions are derived from the primary operation of the companies because it is a reserve for future payments then the companies should make in case of probable occurrence of accidents.A estrutura de capital de diversas firmas depende de suas atividades e da economia onde elas estão inseridas. Essas firmas podem financiar o capital com recursos próprios (patrimônio líquido) ou pegando dinheiro emprestado no mercado (passivo) no curto ou longo prazo. Entretanto, algumas dessas atividades não dependem de seus desejos, pois impostos e períodos são determinados pelo governo ou financiadores. A estrutura de capital é também influenciada pelas atividades fins das empresas, seus investimentos e mudanças em suas vendas. Assim destaca-se o fato de as operações em uma seguradora correrem um risco menor do que em outra empresa financeira ou industrial, pois ela sempre recebe o prêmio antes que ocorra qualquer pagamento resultante de um sinistro, isto é, seu fluxo de caixa é sempre positivo. Além disso, grande parte de seu passivo é constituído por provisões técnicas, que são reservas que a seguradora mantém para cobrir o desembolso das indenizações. Então, pode-se considerar que a parcela necessária de endividamento que elas necessitam é reduzida ou nula, se comparada com o resto do mercado. Este artigo tem como objetivo fazer uma análise de estrutura de capital em empresas seguradoras, assim como detalhar se existem particularidades se comparada com empresas de outro setor. Para isso, realizou-se uma revisão bibliográfica sobre conceitos gerais de estrutura de capital e do mercado segurador, para após se apresentar um survey contendo conclusões de como tal fenômeno se apresenta nas seguradoras. A principal evidência deste estudo foi a caracterização de um passivo das empresas seguradoras, que se constitui, principalmente, pelas provisões técnicas. Tais provisões derivam da operação primordial da companhia, pois é uma reserva para os futuros pagamentos que esta deverá efetuar em caso de provável ocorrência de sinistros. UFRGS2010-11-23info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionAvaliado por Paresapplication/pdfhttps://seer.ufrgs.br/index.php/ConTexto/article/view/16127ConTexto - Contabilidade em Texto; v. 10 n. 18 (2010): 2º semestre 2010; 97-1052175-87511676-6016reponame:ConTextoinstname:Universidade Federal do Rio Grande do Sul (UFRGS)instacron:UFRGSporhttps://seer.ufrgs.br/index.php/ConTexto/article/view/16127/pdfMette, Frederike Monika BudinerMartins, Marco Antônio dos SantosButzen, Paula FernandaMacêdo, Guilherme Ribeiro deinfo:eu-repo/semantics/openAccess2013-10-15T17:12:32Zoai:seer.ufrgs.br:article/16127Revistahttps://www.seer.ufrgs.br/index.php/ConTexto/indexPUBhttpw://www.seer.ufrgs.br/index.php/ConTexto/oaifernanda.momo@ufrgs.br||contexto@ufrgs.br2175-87511676-6016opendoar:2013-10-15T17:12:32ConTexto - Universidade Federal do Rio Grande do Sul (UFRGS)false |
dc.title.none.fl_str_mv |
THE CAPITAL STRUCTURE: AN ANALYSE ON INSURANCE COMPANIES ESTRUTURA DE CAPITAL: UMA ANÁLISE EM EMPRESAS SEGURADORAS |
title |
THE CAPITAL STRUCTURE: AN ANALYSE ON INSURANCE COMPANIES |
spellingShingle |
THE CAPITAL STRUCTURE: AN ANALYSE ON INSURANCE COMPANIES Mette, Frederike Monika Budiner Estrutura de capital Seguradora Provisões técnicas Capital structure Insurance companies Technical provisions |
title_short |
THE CAPITAL STRUCTURE: AN ANALYSE ON INSURANCE COMPANIES |
title_full |
THE CAPITAL STRUCTURE: AN ANALYSE ON INSURANCE COMPANIES |
title_fullStr |
THE CAPITAL STRUCTURE: AN ANALYSE ON INSURANCE COMPANIES |
title_full_unstemmed |
THE CAPITAL STRUCTURE: AN ANALYSE ON INSURANCE COMPANIES |
title_sort |
THE CAPITAL STRUCTURE: AN ANALYSE ON INSURANCE COMPANIES |
author |
Mette, Frederike Monika Budiner |
author_facet |
Mette, Frederike Monika Budiner Martins, Marco Antônio dos Santos Butzen, Paula Fernanda Macêdo, Guilherme Ribeiro de |
author_role |
author |
author2 |
Martins, Marco Antônio dos Santos Butzen, Paula Fernanda Macêdo, Guilherme Ribeiro de |
author2_role |
author author author |
dc.contributor.author.fl_str_mv |
Mette, Frederike Monika Budiner Martins, Marco Antônio dos Santos Butzen, Paula Fernanda Macêdo, Guilherme Ribeiro de |
dc.subject.por.fl_str_mv |
Estrutura de capital Seguradora Provisões técnicas Capital structure Insurance companies Technical provisions |
topic |
Estrutura de capital Seguradora Provisões técnicas Capital structure Insurance companies Technical provisions |
description |
The capital structure of firms depends on their various activities and on the economy where they are located. These firms can finance capital with own resources (equity) or borrowing money in market (passive) in the short or long term. However, some of these activities do not depend on his wishes because there taxes and periods are determined by the government or donors. The capital structure is also influenced by the main activities of the companies, their investments and changes in sales. It is important to say that the operations in an insurance run with a lower risk than in other industrial or financial company, because it always gets the prize before any payment resulting from a claim, ie, its cash flow is always positive. Moreover, large part of its liabilities is made up of technical reserves, which are reserves that the insurer made to cover any disbursement of compensation. Then it can be assumed that the share of debt that required the same need is low or absent, compared with the rest of the market. This article aims to analyze the capital structure of companies insurers, as well as detailing whether there are peculiarities in comparison with other business enterprises. For this, it was carried out a literature review about general concepts of capital structure and insurance market, then it was performed a survey containing conclusions on how such a phenomenon presents the insurers. The main evidence of this study was to characterized the insurers liability that is mainly constituted by technical provisions. Such provisions are derived from the primary operation of the companies because it is a reserve for future payments then the companies should make in case of probable occurrence of accidents. |
publishDate |
2010 |
dc.date.none.fl_str_mv |
2010-11-23 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Avaliado por Pares |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
https://seer.ufrgs.br/index.php/ConTexto/article/view/16127 |
url |
https://seer.ufrgs.br/index.php/ConTexto/article/view/16127 |
dc.language.iso.fl_str_mv |
por |
language |
por |
dc.relation.none.fl_str_mv |
https://seer.ufrgs.br/index.php/ConTexto/article/view/16127/pdf |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
UFRGS |
publisher.none.fl_str_mv |
UFRGS |
dc.source.none.fl_str_mv |
ConTexto - Contabilidade em Texto; v. 10 n. 18 (2010): 2º semestre 2010; 97-105 2175-8751 1676-6016 reponame:ConTexto instname:Universidade Federal do Rio Grande do Sul (UFRGS) instacron:UFRGS |
instname_str |
Universidade Federal do Rio Grande do Sul (UFRGS) |
instacron_str |
UFRGS |
institution |
UFRGS |
reponame_str |
ConTexto |
collection |
ConTexto |
repository.name.fl_str_mv |
ConTexto - Universidade Federal do Rio Grande do Sul (UFRGS) |
repository.mail.fl_str_mv |
fernanda.momo@ufrgs.br||contexto@ufrgs.br |
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1799766349302464512 |