| Firm {PLreg} | R Documentation |
Firm Cost
Description
A dataset on risk management practices of 73 firms.
Usage
data(Firm)
Format
A data frame with 73 rows and 7 variables:
- firmcost
total property and casualty premiums and uninsured losses as a percentage of total assets.
- assume
per occurrence retention amount as a percentage of total assets.
- cap
indicates that the firm owns a captive insurance company; 1 if the firm uses a captive, 0 otherwise.
- sizelog
logarithm of total assets.
- indcost
a measure of the firm's industry risk.
- central
a measure of the importance of the local managers in choosing the amount of risk to be retained.
- soph
a measure of the degree of importance in using analytical tools.
Details
The dataset was introduced and analyzed by Schmit and Roth (1990) and
is available in the personal web page of Professor E. Frees (Wisconsin School
of Business Research). The response variable is FIRMCOST, smaller
values of firm cost are attributed to firms that have a good risk management
performance.
Source
References
Schmit, J.T. and Roth, K. (1990). Cost effectiveness of risk management practices. Journal of Risk and Insurance. 57:455-470.
Examples
data("Firm")
fitPL <- PLreg(firmcost ~ sizelog + indcost | sizelog + indcost,
data = Firm,
family = "SLASH",
zeta = 2.13)
summary(fitPL)
plot(fitPL, type = "standardized")