Following are the publications (scholarly articles and working papers) in line with the Chair’s mission :

“Long-Term Care Insurance: Information Frictions and Selection.” American Economic Journal: Economic Policy (accepted for publication 10-2019); with Philippe De Donder, Claude Fluet, Marie-Louise Leroux, and Pierre-Carl Michaud https://ssrn.com/abstract=3075158.

“Demand for Annuities: Price Sensitivity, Risk Perceptions, and Knowledge.” Journal of Economic Behavior and Organisations (accepted for publication 03-2019); with Pierre-Carl Michaud, and Sébastien Box-Couillard https://doi.org/10.1016/j.jebo.2019.03.022.

“A Canadian Parlor Room-Type Approach to the Long-Term Care Insurance Market.” Canadian Public Policy 45(2),  262–282 (2019); with Philippe De Donder, Claude Fluet, Marie-Louise Leroux, and Pierre-Carl Michaud https://doi.org/10.3138/cpp.2018-023.

“Long-Term Care Risk Misperceptions.” Geneva Papers Issues and Practice 44(2): 183-215 (2019); with Philippe DeDonder (UQAM), Marie-Louise Leroux (UQAM), Claude-Denys Fluet (Laval) and Pierre-Carl Michaud (HEC Montréal).

“If we can simulate it, we can insure it: An application to longevity risk management” Insurance: Mathematics and Economics 52: 35-45 (2013), Martin Boyer and Lars Stentoft (HEC Montréal and Copenhagen Business School).

“Yes we can (price derivatives on survivor indices)!”Risk Management and Insurance Review 20(1): 37-62 (2017), Martin Boyer and Lars Stentoft (Western University).

“Les modèles factoriels et la gestion du risque de longévité” Actualité Économique 91(4): 531-566 (2015), Martin Boyer, Christian Dorion (HEC Montréal) and Lars Stentoft (Western University).

“Measuring Longevity Risk for a Canadian Public Pension Fund” Risk Management and Insurance Review, 17(1): 37-59 (2014), Martin Boyer and Lars Stentoft (Western University, Copenhagen Business School) and Joanna Mezja (HEC Montréal).

“Pricing Survivor Forwards and Swaps in Incomplete Markets Using Simulation Techniques” In Longevity Risk Management for Institutional Investors (2012), Institutional Investors Journal (Fall 2012) pp. 69-87, Martin Boyer, Lars Stentoft (HEC Montréal, Copenhagen Business School) and Amélie Favaro (Mazars Frères).

“Insurance Fraud in a Rothschild-Stiglitz World.” Journal of Risk and Insurance (accepted for publication 06-2018); with Richard Peter (Iowa) https://doi.org/10.1111/jori.12264 .

“Portfolio Rebalancing Behavior under Operating Losses and Investment Limitations.” International Review of Economics and Finance 63: 313-328 (2019); with Willie D. Reddic (De Paul) and Elicia P. Cowins (Washington and Lee) https://doi.org/10.1016/j.iref.2018.10.001.

“Insurers Complexity and Managerial Discretion.” Quarterly Journal of Finance 9(3):4 (2019), https://doi.org/10.1142/S2010139219500083; with Willie D. Reddic (De Paul University) and Elijah Brewer III (De Paul University).

“Directors’ and Officers’ Liability Insurance, Corporate Risk and Risk Taking:  New Panel Data Evidence on the Role of Directors’ and Officers’ Liability Insurance.” Journal of Risk and Insurance 82(4): 753–791 (2015), Martin Boyer and Sharon Tennyson (Cornell).

“The Structure of Reinsurance Contracts” Geneva Papers on Risk and Insurance: Issues and Practice 40: 474-492 (2015), Martin Boyer and Théodora Dupont-Courtade (Paris School of Economics).

“D&O Insurance and IPO Performance: what can we learn from insurers?” Journal of Financial Intermediation 23(4):504-540 (2014), Martin Boyer and Léa Stern (Syracuse University).

“Underwriting Apophenia and Cryptids: Are Cycles Statistical Figments of our Imagination?” Geneva Papers on Risk and Insurance: Issues and Practice 40: 232-255 (2014), Martin Boyer and Iqbal Owadally (City University London).

“Directors’ and Officers’ Insurance and Shareholders’ Protection” Journal of Financial Perspective, 2(1): 107-128 (2014), Martin Boyer.

“Insuring Catastrophes and the Role of Governments” Natural Hazards and Earth Science Systems 13: 2053-2063 (2013)Martin Boyer and Charles Nyce (Florida State University).

“An Industrial Organization Theory of Risk Sharing” North American Actuarial Journal 17(4): 283-296 (2013), Martin Boyer and Charles Nyce (Florida State University). Winner of the 2014 Brockett-Shapiro Best Paper Award

“Alleviating Managerial Disagreement through Financial Risk Management”. Quarterly Journal of Finance 3(2):9 (2013), Martin Boyer and Marcel Boyer (Université de Montréal) & René Garcia (EDHEC). Winner of the 2013 QJF Best Paper Award

“Are Underwriting Cycles Real and Forecastable?” Journal of Risk and Insurance 79: 995–1015 (2012), Martin Boyer, Éric Jacquier (HEC Montréal, MIT) and Simon van Norden (HEC Montréal). Winner of the 2012 Casualty Actuarial Society Best Paper Award on the Theory of Risk

“Is Corporate Governance Risk Valued? Evidence from Directors’ and Officers’ Insurance” Journal of Corporate Finance 18: 349-372 (2012), Martin Boyer and Léa Stern (Ohio State). Winner of the 2010 Bank of Canada Best Paper Award on the Canadian Financial System

The Effect of Regulatory Constraints on Property and Casualty Insurers’ Investment Income (W. Reddic, S.P. Cowins). Out to Journal of Regulatory Economics 05-2018, 08-2019 (R&R 04-2019)

Tax-Preferred Savings Vehicles: Can Financial Education Improve Asset Location Decisions? (P. d’Astous, P.-C. Michaud). Out to Review of Economic and Statistics 10-2019.

Do Shareholders Care About Bribery? Revealing differing market reactions to employee and firm indictments for Foreign Corrupt Practices Act violations (K. Kordonsky). Out to Journal of Business Ethics 11-2019

Directors’ Insurance and the Expected Cost of Frivolous Litigation when Cross-Listing into the United States (K. Kordonsky). Project for JCF 10-2020.

On the Use of Hierarchies to Complete Contracts when Players Have Limited Abilities: The Impact of Advanced Data Science on Insurance Organization (From Big Data to Big Bertha: The Impact of Data Analytics on an Insurer’s Organizational Structure when Agents Have Private Information and Limited Abilities). Project for JRU 06-2020.

A Model of Cyber Risk Management. Project for Management Science 12-2019.

Executive Compensation and Hedge Accounting: An Investigation of Reporting and Risk Incentives Limitations (W. Reddic, S.P. Cowins). Project for JAE 12-2019.

Electronic Sales Suppression Technology: The Billion Dollar Free Lunch (P. D’Astous). Project for JPE 09-2020.

System 1, System 2, and Speculative Trading (S. Ouzan). Project for RFS 09-2020

Electronic Sales Suppression Technology: The Billion Dollar Free Lunch (P. d’Astous). Project for JPE

The Market for Long-term Care Insurance in Canada. (Boyer, M., P. DeDonder, M-L Leroux, C-D Fluet, P-C. Michaud).

Earning Accruals in Complex Firms: The Case of Multi-Jurisdictional and Multi-Product Insurers (Boyer, M. and W. Reddic).

Do Insurers Deviate from the Industry Portfolio Asset Allocation Norm Under Investment Limitations? (Boyer, M. and W. Reddic).

Pensions, annuities, and long-term care insurance: On the impact of risk signaling (Boyer, M. and F. Glenzer).

Crowding out Long-Term Care Insurance through Social Security (Boyer, M. and F. Glenzer).

A Re-Examination of Adverse Selection Problems on the Annuity and Long-Term Care Insurance Markets (Boyer, M. and F. Glenzer).

EXAMPLE OF A SCIENTIFIC ARTICLE

Tax-Preferred Savings Vehicles: Can Financial Education Improve Asset Location Decisions? (M. M. Boyer, P. d’Astous and P.-C. Michaud)

We conduct a stated-choice experiment to analyze the decision to contribute to a front or a back-loaded tax-preferred retirement savings vehicle. Our experimental design includes a randomized financial education intervention that provides information on the tax implications of vehicles. Respondents who were exposed to the intervention have better knowledge of these vehicles and make contribution choices that increase their after-tax income and welfare, at least compared to a well-defined benchmark. Compared to a control group, the average treatment effect on the treated translates into an increase in the respondents’ average welfare of close to 40% of the initial contribution amount.