Martin Eling

University of St. Gallen - Institute of Insurance Economics

Kirchlistrasse 2

St. Gallen, 9010

Switzerland

University of Saint Gallen - School of Finance (SoF)

Unterer Graben 21

St.Gallen, CH-9000

Switzerland

  • University of St. Gallen - Institute of Insurance Economics

  • University of Saint Gallen - School of Finance (SoF)

SCHOLARLY PAPERS

34

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127

Scholarly Papers (34)

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1.

Does the Choice of Performance Measure Influence the Evaluation of Hedge Funds?

Journal of Banking and Finance, Forthcoming
Number of pages: 20 Posted: 10 Nov 2006
Martin Eling and Frank Schuhmacher
University of St. Gallen - Institute of Insurance Economics and University of Applied Sciences and Technology Aachen (RWTH Aachen)
Downloads 945 (52,331)
Citation 8

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Asset management; Hedge funds, Performance measurement, Rank correlation, Sharpe ratio

2.

Autocorrelation, Bias, and Fat Tails - are Hedge Funds Really Attractive Investments?

Derivatives Use, Trading & Regulation, Vol. 12, No. 1, pp. 28-47, 2006
Number of pages: 27 Posted: 14 Dec 2005
Martin Eling
University of St. Gallen - Institute of Insurance Economics
Downloads 915 (54,730)
Citation 1

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Hedge Funds, Alternative Investments, Performance Measurement

3.

Does Hedge Fund Performance Persist? Overview and New Empirical Evidence

European Financial Management, Forthcoming, U. of St. Gallen Law & Economics Working Paper No. 37
Number of pages: 40 Posted: 25 Mar 2007 Last Revised: 10 Jun 2013
Martin Eling
University of St. Gallen - Institute of Insurance Economics
Downloads 845 (61,064)
Citation 6

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Hedge Funds, Performance, Performance Persistence

4.

Performance Measurement of Hedge Funds Using Data Envelopment Analysis

Financial Markets and Portfolio Management, Vol. 20, No. 4, 2006
Number of pages: 29 Posted: 10 Nov 2006
Martin Eling
University of St. Gallen - Institute of Insurance Economics
Downloads 820 (63,573)

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Data Envelopment Analysis, Performance Measurement, Hedge Funds

5.

Frontier Efficiency Methodologies to Measure Performance in the Insurance Industry: Overview and New Empirical Evidence

University of St. Gallen Working Papers on Risk Management and Insurance Paper No. 56
Number of pages: 48 Posted: 20 Aug 2008
Martin Eling and Michael Luhnen
University of St. Gallen - Institute of Insurance Economics and University of St. Gallen - SoM: School of Management
Downloads 790 (66,836)
Citation 5

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Efficiency, Data Envelopment Analysis, Stochastic Frontier Analysis

6.

The Determinants of Microinsurance Demand

University of St.Gallen, School of Finance Research Paper No. 2013/8
Number of pages: 43 Posted: 15 Jun 2013
Martin Eling, Shailee Pradhan and Joan T. Schmit
University of St. Gallen - Institute of Insurance Economics, University of Saint Gallen - School of Finance (SoF) and University of Wisconsin-Madison - Department of Actuarial Science, Risk Management and Insurance
Downloads 766 (69,607)
Citation 4

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microinsurance, insurance, demand, enrolment, participation, take-up

7.

Insurability of Cyber Risk: An Empirical Analysis

Geneva Papers on Risk and Insurance, Vol. 40, No. 1, 2015, University of St. Gallen, School of Finance Research Paper No. 2015/03
Number of pages: 32 Posted: 12 Mar 2015 Last Revised: 19 Jan 2016
Christian Biener, Martin Eling and Jan Hendrik Wirfs
Institute of Insurance Economics, University of St. Gallen, University of St. Gallen - Institute of Insurance Economics and University of St. Gallen - School of Finance
Downloads 713 (76,457)
Citation 33

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Cyber risk, cyber insurance, operational risk, insurability

8.

Common Risk Factors of Infrastructure Investments

Energy Economics, Vol. 49, 2015
Number of pages: 44 Posted: 03 Apr 2013 Last Revised: 19 Apr 2015
Semir Ben Ammar and Martin Eling
University of St. Gallen and University of St. Gallen - Institute of Insurance Economics
Downloads 703 (77,781)
Citation 3

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Infrastructure, Asset class, Factor model, Fama/French factors, Leverage, Cash flow volatility, Investment factor

9.

Management Strategies and Dynamic Financial Analysis

Variance, Vol. 2, No. 1, pp. 54-66
Number of pages: 23 Posted: 10 Nov 2006 Last Revised: 10 Jun 2013
Martin Eling, Thomas Parnitzke and Hato Schmeiser
University of St. Gallen - Institute of Insurance Economics, University of St. Gallen - SEPS: Economics and Political Sciences and University of Münster - Faculty of Economics
Downloads 662 (83,976)
Citation 2

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Dynamic Financial Analysis, Performance Measurement, Simulation, Non-Life Insurance

10.

The supply of cyber risk insurance *

Swiss Finance Institute Research Paper No. 23-118
Number of pages: 60 Posted: 05 Jul 2023 Last Revised: 13 Jun 2024
Martin Eling, Anastasia Kartasheva and Dingchen Ning
University of St. Gallen - Institute of Insurance Economics, University of St. Gallen - School of Finance and Institute of Insurance Economics, University of St. Gallen
Downloads 473 (127,667)
Citation 1

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cyber risk insurance, large risks financing, internal capital market, reinsurance, information frictions. JEL classification: G22, G32, L11, G22

11.

Systemic Risk in the Insurance Sector: Review and Directions for Future Research

University of St. Gallen, School of Finance Research Paper No. 2014/21
Number of pages: 52 Posted: 14 Mar 2015
Martin Eling and David Pankoke
University of St. Gallen - Institute of Insurance Economics and University of St. Gallen - School of Finance
Downloads 419 (147,391)
Citation 4

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Systemic Risk, Insurance, Solvency II, Financial Crisis

12.

Modeling and Management of Nonlinear Dependencies - Copulas in Dynamic Financial Analysis

University of St. Gallen, Risk Management and Insurance Working Paper No. 34
Number of pages: 40 Posted: 26 Mar 2007 Last Revised: 10 Jun 2013
Martin Eling and Denis Toplek
University of St. Gallen - Institute of Insurance Economics and University of St. Gallen
Downloads 419 (147,391)

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Enterprise Risk Management, Dynamic Financial Analysis, Copulas

13.

Cyber Insurance Supply and Performance: An Analysis of the U.S. Cyber Insurance Market

Number of pages: 55 Posted: 25 Aug 2019
Xiaoying Xie, Charles Lee and Martin Eling
California State University, Fullerton, Columbia University, Students and University of St. Gallen - Institute of Insurance Economics
Downloads 373 (168,032)
Citation 10

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cyber risk, cyber insurance, surplus lines, property-casualty insurance

14.

The Structure of the Global Reinsurance Market: An Analysis of Efficiency, Scale, and Scope

University of St.Gallen, School of Finance Research Paper No. 2016/3
Number of pages: 64 Posted: 26 Jan 2016
Christian Biener, Martin Eling and Ruo Jia
Institute of Insurance Economics, University of St. Gallen, University of St. Gallen - Institute of Insurance Economics and Department of Risk Management and Insurance, School of Economics, Peking University
Downloads 305 (209,012)
Citation 5

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Insurance, Data Envelopment Analysis, Cost Efficiency, Market Structure, Economies of Scale, Economies of Scope

15.

Regulation in Microinsurance Markets: Principles, Practice, and Directions for Future Development

World Development, Vol. 58, No. 1, 2014, University of St. Gallen, Institute of Insurance Economics Working Paper on Risk Management and Insurance No. 127
Number of pages: 41 Posted: 09 Jun 2013 Last Revised: 19 Jan 2016
Christian Biener, Martin Eling and Joan T. Schmit
Institute of Insurance Economics, University of St. Gallen, University of St. Gallen - Institute of Insurance Economics and University of Wisconsin-Madison - Department of Actuarial Science, Risk Management and Insurance
Downloads 295 (216,419)
Citation 6

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Developing countries, microinsurance, regulation

16.

The Determinants of Efficiency and Productivity in the Swiss Insurance Industry

University of St. Gallen, School of Finance Research Paper No. 2015/02, European Journal of Operational Research, Vol. 248, No. 2, 2016
Number of pages: 41 Posted: 12 Mar 2015 Last Revised: 19 Jan 2016
Christian Biener, Martin Eling and Jan Hendrik Wirfs
Institute of Insurance Economics, University of St. Gallen, University of St. Gallen - Institute of Insurance Economics and University of St. Gallen - School of Finance
Downloads 234 (273,483)
Citation 12

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Data envelopment analysis, Two-stage double-bootstrap, Internationalization, OR in in-surance

17.

Costs and Benefits of Financial Regulation - An Empirical Assessment for Insurance Companies

University of St. Gallen, School of Finance Research Paper No. 2014/20
Number of pages: 41 Posted: 14 Mar 2015
Martin Eling and David Pankoke
University of St. Gallen - Institute of Insurance Economics and University of St. Gallen - School of Finance
Downloads 227 (281,603)

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Insurance, Regulation, Cost-Benefit Analysis, Proportionality Principle

18.

Sufficient Conditions for Expected Utility to Imply Drawdown-Based Performance Rankings

Number of pages: 18 Posted: 27 Nov 2009 Last Revised: 10 Jun 2013
Frank Schuhmacher and Martin Eling
University of Applied Sciences and Technology Aachen (RWTH Aachen) and University of St. Gallen - Institute of Insurance Economics
Downloads 218 (292,728)
Citation 6

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Asset management, Performance measurement, Sharpe ratio, Calmar ratio, Drawdown, Location and scale condition, Positive homogeneity

19.

The Cross-Section of Expected Stock Returns in the Property/Liability Insurance Industry

University of St.Gallen, School of Finance Research Paper No. 2015/16
Number of pages: 64 Posted: 31 Jul 2015 Last Revised: 26 Jun 2018
Semir Ben Ammar, Martin Eling and Andreas Milidonis
University of St. Gallen, University of St. Gallen - Institute of Insurance Economics and University of Cyprus - Department of Accounting and Finance
Downloads 217 (294,016)
Citation 1

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Asset Pricing; Insurance; Multifactor Models; APT; Risk Factors

20.

Can Group Incentives Alleviate Moral Hazard? The Role of Pro-Social Preferences

University of St.Gallen, School of Finance Research Paper No. 2016/10
Number of pages: 34 Posted: 24 May 2016 Last Revised: 30 Jan 2017
Christian Biener, Martin Eling, Andreas Landmann, Andreas Landmann and Shailee Pradhan
Institute of Insurance Economics, University of St. Gallen, University of St. Gallen - Institute of Insurance Economics, University of MannheimParis School of Economics (PSE) and University of Saint Gallen - School of Finance (SoF)
Downloads 194 (326,470)
Citation 3

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Moral hazard, Group joint liability, Pro-social preferences, Experiments

21.

Get the Balance Right: Growth, Profitability, and Safety in the Insurance Industry

Number of pages: 50 Posted: 29 Nov 2017 Last Revised: 11 Feb 2020
Martin Eling, Ruo Jia and Philipp Schaper
University of St. Gallen - Institute of Insurance Economics, Department of Risk Management and Insurance, School of Economics, Peking University and University of St. Gallen - School of Finance
Downloads 193 (328,044)
Citation 2

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firm performance, simultaneous equation model, risk taking

22.

Time Dynamics of Cyber Risk

Number of pages: 64 Posted: 05 Jul 2023
Martin Eling, Rustam Ibragimov and Dingchen Ning
University of St. Gallen - Institute of Insurance Economics, Imperial College London and Institute of Insurance Economics, University of St. Gallen
Downloads 167 (373,277)
Citation 3

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Cyber risk, change point detection, tail risk, report delay

23.

The Roles of Industry Idiosyncrasy, Cost Efficiency, and Risk in Internationalization: Evidence from the Insurance Industry

University of St. Gallen, School of Finance Research Paper No. 2016/2
Number of pages: 49 Posted: 26 Jan 2016
Christian Biener, Martin Eling and Ruo Jia
Institute of Insurance Economics, University of St. Gallen, University of St. Gallen - Institute of Insurance Economics and Department of Risk Management and Insurance, School of Economics, Peking University
Downloads 148 (413,471)

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Industry Dependency, Liability of Foreignness, Risk Reduction, Data Envelopment Analysis, Financial Services

24.

When Does the Choice of Performance Measure Not Matter?

Number of pages: 13 Posted: 28 Nov 2009 Last Revised: 10 Jun 2013
Frank Schuhmacher and Martin Eling
University of Leipzig and University of St. Gallen - Institute of Insurance Economics
Downloads 131 (455,543)
Citation 1

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Asset management; Performance measurement, Performance, Sharpe ratio, Location and scale condition

25.

Optimal Government Intervention for Extreme Risks

Number of pages: 52 Posted: 28 Nov 2023 Last Revised: 04 Nov 2024
Alexander Braun, Martin Eling and Marcel Freyschmidt
Institute of Insurance Economics (University of St. Gallen), University of St. Gallen - Institute of Insurance Economics and University of St. Gallen - School of Finance
Downloads 125 (472,586)

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Extreme Risk, Globally-Undiversifiable Risk, Risk Sharing, Government Intervention, Public-Private Partnership

26.

Willingness to take financial risks and insurance holdings: A European survey

ARC Centre of Excellence in Population Ageing Research (CEPAR) Working Paper No. 2021/04
Number of pages: 46 Posted: 25 Feb 2021
Martin Eling, Omid Ghavibazoo and Katja Hanewald
University of St. Gallen - Institute of Insurance Economics, University of St. Gallen - Institute of Insurance Economics and UNSW Sydney - School of Risk & Actuarial Studies and ARC Centre of Excellence in Population Ageing Research (CEPAR)
Downloads 117 (497,173)
Citation 10

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Risk attitudes, Long-term care insurance, Life insurance, SHARE data

27.

Evidence of Adverse Selection in the Group Insurance Market

University of St.Gallen, School of Finance Research Paper No. 2014/3
Number of pages: 30 Posted: 21 Feb 2014 Last Revised: 05 May 2014
Martin Eling, Ruo Jia and Yi Yao
University of St. Gallen - Institute of Insurance Economics, Department of Risk Management and Insurance, School of Economics, Peking University and Peking University - School of Economics
Downloads 112 (513,772)
Citation 1

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Information Asymmetry, Asymmetric Learning, Insurance Decision, Group Health Insurance, Critical Illness Insurance

28.

The Changing Landscape of Cyber Risk: An Empirical Analysis of Frequency, Severity, and Tail Dynamics

Number of pages: 55 Posted: 14 May 2024
Martin Eling, Rustam Ibragimov and Dingchen Ning
University of St. Gallen - Institute of Insurance Economics, Imperial College London and Institute of Insurance Economics, University of St. Gallen
Downloads 102 (550,067)

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cyber risk, Report delay, change point detection, Heavy tails, Cyber insurance

29.

Spatial Loss Clusters and Socio-Economic Drivers of Cyber Risks

Number of pages: 53 Posted: 19 Feb 2023
Kwangmin Jung, Martin Eling and Jaehun Cho
Pohang University of Science and Technology (POSTECH) - Department of Industrial and Management Engineering, University of St. Gallen - Institute of Insurance Economics and affiliation not provided to SSRN
Downloads 99 (561,573)

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Cyber risk, Spatial autocorrelation, Moran's I, Spatial econometrics

30.

Loss Aversion Leads to Fatalistic Management of Interdependent Risk

Number of pages: 27 Posted: 02 Sep 2022
Martin Eling and Kwangmin Jung
University of St. Gallen - Institute of Insurance Economics and Pohang University of Science and Technology (POSTECH) - Department of Industrial and Management Engineering
Downloads 57 (762,710)

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Utility loss aversion, Self-protection, Self-insurance, Interdependent risk, Catastrophic event

31.

The Changing Landscape of Cyber Risk: An Empirical Analysis of Loss Severity and Tail Dynamics

Number of pages: 45 Posted: 27 Feb 2025
Martin Eling, Rustam Ibragimov and Dingchen Ning
University of St. Gallen - Institute of Insurance Economics, Imperial College London and Institute of Insurance Economics, University of St. Gallen
Downloads 26 (1,031,646)

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Cyber risk, Selection bias, Change point detection, Heavy tails, Cyber insurance

32.

Preferences during Crisis: The Causal Role of Public Policy and Culture

Number of pages: 55 Posted: 12 Mar 2025
Martin Eling and Marcel Freyschmidt
University of St. Gallen - Institute of Insurance Economics and University of St. Gallen - School of Finance
Downloads 8 (1,250,067)

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Public Policy, Culture, Societal behaviors and beliefs, Preferences, Covid-19, Crisis

33.

How Skewness Influences Optimal Allocation in a Risky Asset

Posted: 21 Oct 2012
Martin Eling, K. Sudheesh and Luisa Tibiletti
University of St. Gallen - Institute of Insurance Economics, affiliation not provided to SSRN and University of Turin - Department of Management

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Stein’s Lemma, optimal asset allocation, skew-normal distribution, skewness

34.

Does the Measure Matter in the Mutual Fund Industry?

Financial Analysts Journal, Vol. 64, No. 3, 2008
Posted: 11 Sep 2008
Martin Eling
University of St. Gallen - Institute of Insurance Economics

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Performance Measurement and Evaluation: Performance Measurement, Performance Attribution