碩士 / 國立高雄第一科技大學 / 風險管理與保險所 / 92 / This study makes a brief review of the concept of Dynamic Financial Analysis (DFA), Risk-adjusted Return on Capital (RAROC), and Economic Value Added (EVA). It takes a high-tech company for empirical research and constitutes the RAROC model with a dynamic respect to help choose one of the ten famous domiciles around the world for founding a captive insurance company. We analyze the loss distribution of this high-tech company with the BestFit software and take the regulations of each domicile into consideration, such as minimum capital requirement, solvency margin, investment restriction, taxation, and fees. Thereafter, we simulate the dynamic model and test the homogeneity of the simulation results of the domiciles.
The empirical results imply that there is significant difference among the domiciles and Bermuda and Barbados are significant ranking domiciles in RAROC and EVA respects, followed by Isle of Man and British Virgin Islands. Additionally, the parent company should consider its need or capital scale when choosing an advantageous domicile for founding the captive. Most importantly, founding of the captive should be a component of overall risk management or financing strategy rather than an alternative structure in isolation.
| Identifer | oai:union.ndltd.org:TW/092NKIT5218065 |
| Date | January 2004 |
| Creators | Mei-hsuan Li, 李美萱 |
| Contributors | Min-Sun Horng, Li-Hua Lai, 洪敏三, 賴麗華 |
| Source Sets | National Digital Library of Theses and Dissertations in Taiwan |
| Language | en_US |
| Detected Language | English |
| Type | 學位論文 ; thesis |
| Format | 65 |
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