{"id":"https://openalex.org/W2332887875","doi":"https://doi.org/10.2307/252703","title":"The Relationship between Risk and Return: Evidence for Life Insurance Stocks","display_name":"The Relationship between Risk and Return: Evidence for Life Insurance Stocks","publication_year":1983,"publication_date":"1983-12-01","ids":{"openalex":"https://openalex.org/W2332887875","doi":"https://doi.org/10.2307/252703","mag":"2332887875"},"language":"en","primary_location":{"id":"doi:10.2307/252703","doi":"https://doi.org/10.2307/252703","is_oa":false,"landing_page_url":"https://doi.org/10.2307/252703","pdf_url":null,"source":{"id":"https://openalex.org/S116483603","display_name":"Journal of Risk & Insurance","issn_l":"0022-4367","issn":["0022-4367","1539-6975"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","fnege-2","jufo-2","norway-1","poland-140","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"The Journal of Risk and Insurance","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5103345463","display_name":"Scott E. Harrington","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":true,"raw_author_name":"Scott E. Harrington","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":["https://openalex.org/A5103345463"],"corresponding_institution_ids":[],"apc_list":{"value":3400,"currency":"USD","value_usd":3400},"apc_paid":null,"fwci":2.6908,"has_fulltext":false,"cited_by_count":25,"citation_normalized_percentile":{"value":0.91797283,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":94,"max":96},"biblio":{"volume":"50","issue":"4","first_page":"587","last_page":"587"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9818999767303467,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9818999767303467,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10282","display_name":"Financial Risk and Volatility Modeling","score":0.009700000286102295,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12123","display_name":"Financial Analysis and Corporate Governance","score":0.002899999963119626,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/risk-return-trade-off","display_name":"risk-return tradeoff","score":0.9580000042915344},{"id":"https://openalex.org/keywords/capital-asset-pricing-model","display_name":"capital asset pricing model","score":0.9779999852180481},{"id":"https://openalex.org/keywords/systematic-risk","display_name":"systematic risk","score":0.8790000081062317},{"id":"https://openalex.org/keywords/beta","display_name":"beta","score":0.7979999780654907},{"id":"https://openalex.org/keywords/required-rate-of-return","display_name":"required rate of return","score":0.7020000219345093},{"id":"https://openalex.org/keywords/idiosyncratic-risk","display_name":"idiosyncratic risk","score":0.6990000009536743},{"id":"https://openalex.org/keywords/return-variance","display_name":"return variance","score":0.6269999742507935},{"id":"https://openalex.org/keywords/asset-pricing","display_name":"asset pricing","score":0.42399999499320984}],"concepts":[{"id":"https://openalex.org/C3020299011","wikidata":"https://www.wikidata.org/wiki/Q626608","display_name":"Life insurance","level":2,"score":0.5503060221672058},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.5453398823738098},{"id":"https://openalex.org/C162118730","wikidata":"https://www.wikidata.org/wiki/Q1128453","display_name":"Actuarial science","level":1,"score":0.503025233745575},{"id":"https://openalex.org/C30755413","wikidata":"https://www.wikidata.org/wiki/Q1245402","display_name":"Risk\u2013return spectrum","level":3,"score":0.4670407176017761},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.3936089873313904},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.17814013361930847},{"id":"https://openalex.org/C2780821815","wikidata":"https://www.wikidata.org/wiki/Q5340806","display_name":"Portfolio","level":2,"score":0.09317755699157715}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.2307/252703","doi":"https://doi.org/10.2307/252703","is_oa":false,"landing_page_url":"https://doi.org/10.2307/252703","pdf_url":null,"source":{"id":"https://openalex.org/S116483603","display_name":"Journal of Risk & Insurance","issn_l":"0022-4367","issn":["0022-4367","1539-6975"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","fnege-2","jufo-2","norway-1","poland-140","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"The Journal of Risk and Insurance","raw_type":"journal-article"}],"best_oa_location":null,"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":26,"referenced_works":["https://openalex.org/W649641769","https://openalex.org/W1493117078","https://openalex.org/W1513078330","https://openalex.org/W1517358819","https://openalex.org/W1557274122","https://openalex.org/W1575641806","https://openalex.org/W1981655312","https://openalex.org/W1984272629","https://openalex.org/W1991625257","https://openalex.org/W1998945328","https://openalex.org/W2010681793","https://openalex.org/W2011043606","https://openalex.org/W2027889491","https://openalex.org/W2029056003","https://openalex.org/W2031797820","https://openalex.org/W2061874182","https://openalex.org/W2069147838","https://openalex.org/W2077214781","https://openalex.org/W2081951886","https://openalex.org/W2083148578","https://openalex.org/W2084050624","https://openalex.org/W2104795328","https://openalex.org/W2120087808","https://openalex.org/W2331592359","https://openalex.org/W2333215074","https://openalex.org/W4285719527"],"related_works":["https://openalex.org/W7135756275","https://openalex.org/W2145370536","https://openalex.org/W2255895496","https://openalex.org/W4410373102","https://openalex.org/W2249451652","https://openalex.org/W2312460828","https://openalex.org/W2324680998","https://openalex.org/W2015884188","https://openalex.org/W2085508910","https://openalex.org/W23548252"],"abstract_inverted_index":{"This":[0],"paper":[1],"examines":[2],"the":[3,21,25,28,69,73,80,141,160,164,173,203,224],"relationship":[4,42,57],"between":[5,43,58],"realized":[6,207,257],"mean":[7,44,59,256],"returns":[8,45,60,208,258],"and":[9,46,61,93,155,159,190,244,248,251],"alternative":[10],"measures":[11,62],"of":[12,16,27,39,54,63,72,82,88,96,100,106,125,144,152,163,176,200,215,226],"risk":[13,119,177,185,194,217],"for":[14,110,178],"samples":[15],"life":[17],"insurance":[18],"stocks":[19,261],"during":[20],"1961-76":[22],"period":[23],"within":[24],"framework":[26],"Capital":[29,147],"Asset":[30,148],"Pricing":[31,149],"Model":[32,150],"(CAPM).":[33],"The":[34,146,231],"results":[35],"provide":[36,52],"some":[37],"evidence":[38,53],"a":[40,55],"significant":[41,56],"systematic":[47],"risk,":[48,65,132],"but":[49,133],"they":[50],"also":[51],"nonsystematic":[64,216],"in":[66],"contradiction":[67],"to":[68,76,91,131,236],"principal":[70],"implication":[71],"CAPM.":[74],"According":[75],"normative":[77],"financial":[78,210],"theory,":[79],"rate":[81],"return":[83,107,126,221],"required":[84,104,123,198],"by":[85,167,188,241],"shareholders":[86],"is":[87,108,135,181],"critical":[89],"importance":[90],"investment":[92],"financing":[94],"decisions":[95],"publicly-held":[97],"firms.":[98],"Knowledge":[99],"factors":[101],"that":[102,115,122,172,191,206,255],"determine":[103],"rates":[105,124,199],"needed":[109],"rational":[111],"decision-making.":[112],"Theorists":[113],"agree":[114],"most":[116],"investors":[117],"are":[118,262],"averse":[120],"so":[121],"will":[127,195],"be":[128,213],"positively":[129],"related":[130,264],"there":[134],"less":[136],"than":[137],"complete":[138],"agreement":[139],"on":[140,209,259],"relevant":[142],"measure(s)":[143],"risk.":[145],"(CAPM)":[151],"Sharpe":[153],"[31]":[154],"Lintner":[156],"[":[157,169],"18]":[158],"zero-beta":[161],"version":[162],"CAPM":[165,204,232],"developed":[166],"Black":[168],"1]":[170],"imply":[171],"proper":[174],"measure":[175],"an":[179],"asset":[180],"its":[182],"market":[183],"(systematic)":[184],"as":[186,220],"measured":[187],"beta":[189,227],"diversifiable":[192],"(nonsystematic)":[193],"not":[196],"affect":[197],"return.":[201],"Thus,":[202],"predicts":[205],"assets":[211],"should":[212],"independent":[214],"measures,":[218],"such":[219],"variance,":[222],"once":[223],"influence":[225],"has":[228,233],"been":[229,234],"removed.":[230],"subject":[235],"extensive":[237],"empirical":[238],"analysis.":[239],"Studies":[240],"Black,":[242],"Jensen,":[243],"Scholes":[245],"[2],":[246],"Fama":[247],"MacBeth":[249],"[9],":[250],"Foster":[252],"[13]":[253],"suggest":[254],"common":[260],"significantly":[263]},"counts_by_year":[{"year":2019,"cited_by_count":2},{"year":2014,"cited_by_count":2},{"year":2013,"cited_by_count":2},{"year":2012,"cited_by_count":2}],"updated_date":"2026-10-12T09:40:04.860316","created_date":"2016-06-24T00:00:00"}