The Role of Financial Conditions in Portfolio Choices: The Case of Insurers
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Previously circulated as "How Financial Management Affects Institutional Investors’ Portfolio Choices: Evidence from Insurers." The authors would like to thank the Risk Institute at the Fisher College of Business, Ohio State University, for supporting this research. We thank Greg Allen, Hyeik Kim, Yashaswi Mohanty and Steven Zheng for excellent research assistance. We thank Jack Bao, John Campbell, Andra Ghent, Andrei Gonçalves, Zhiguo He, Ralph Koijen, Stijn Van Nieuwerburgh, Lu Zhang, and seminar participants at Case Western, New York University, Ohio State University, Fixed Income and Financial Institutions Conference, Women Assistant Professors of Finance Conference and Rising Five Star conferences for helpful discussions. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.