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Yu-Luen Ma, Ph.D.
Professor
Department of Finance, Insurance
and Law
Katie School of
Insurance and Financial Services
Illinois State University
Normal, IL 61790-5490
Tel: 309.438.7081
Fax: 309.438.7753
yma@ilstu.edu
EDUCATION
Ph.D., 1999, University of Wisconsin-Madison, Madison,
WI
Major:
Risk Management and Insurance
M.S., 1995, University
of Wisconsin-Madison, Madison, WI
Major:
Actuarial Science
B.A., 1994, National Taiwan University, Taipei, Taiwan
Major:
International Relations
ACADEMIC
EXPERIENCE
August, 2011 – present
Professor of Risk Management and Insurance
Illinois State University
August, 2005 – August, 2011
Associate Professor of Risk Management and Insurance
Illinois State University
August, 2001 – August, 2005
Assistant Professor of Risk Management and Insurance
Illinois State University
July, 1999 – July, 2001
Assistant Professor of Risk Management and Insurance
University
of New South Wales
Sydney, Australia
June, 1995 – May, 1999
Teaching and Research Assistant
University of Wisconsin-Madison
Summer, 1998
Lecturer of Risk and Insurance
University
of Wisconsin-Madison
Summer, 1996
Teaching Assistant
Society of Actuaries
PUBLICATION
Ma, Yu-Luen and Yayuan Ren, “Do Publicly-Traded
Property-Casualty Insurers Cater to the Stock Market?” Journal
of Risk and Insurance, forthcoming.
Ma, Yu-Luen and Yayuan Ren, “Influence of the Stock Prices on
Insurers’ Managerial Decisions.” Journal
of Financial and Economic Practice, forthcoming.
Huang, Li-Ying, Yu-Luen Ma and Nat Pope, “Foreign Ownership and Non-Life
Insurer Efficiency in the Japanese Marketplace.” Risk Management and Insurance Review, forthcoming.
Browne, Mark, Yu-Luen Ma
and Ping Wang, 2009, “Stock-Based Executive Compensation and
Reserve Errors in the
Property and Casualty Insurance Industry”, Journal of Insurance Regulation, 27(4): 35-54.
Ma, Yu-Luen, Nat Pope and
Xiaoying Xie, 2009, “Insurer Performance and Contingent Commissions: What’s
the Relationship?” Journal of Financial
and Economic Practice, 9 (2): 45-57.
Kerr,
Dana, Yu-Luen Ma and Joan Schmit, 2009, “A Cross-National Study of
Government Social Insurance as an Alternative to Tort Liability
Compensation?” Journal of Risk and
Insurance, 76(2): 367-384.
Nat Pope and Yu-Luen Ma,
2008, “The Market Structure - Performance Relationship in the International
Insurance Sector.” Journal of Risk
and Insurance, 75(4), 947-966.
Ma, Yu-Luen and Nat Pope,
2008, “Foreign Share, Insurance Density and Penetration: An Analysis of the
International Life Insurance Market.” Risk
Management and Insurance Review, 11(2): 327-347.
Elango, B., Yu-Luen Ma
and Nat Pope, 2008, “An Investigation into the Diversification-Performance
Relationship in the U.S.
Property-Liability Insurance Industry.” Journal
of Risk and Insurance, 75(3):567-591.
Ma, Yu-Luen and B.
Elango, Spring 2008, “When Do International Operations Lead to Improved
Performance: An Analysis of Property-Liability insurers.” Risk Management and Insurance Review,
11(1): 141-155.
Ma, Yu-Luen and Mark Browne, 2005, “Cross-Subsidization and Choice
in the Group Health Insurance Market”, Journal of Risk and Insurance,
72(3): 413-439.
Pope, Nat and Yu-Luen Ma, April 2005, “Market
Deregulation and Insurer Pricing Strategies: The Japanese Experience,” Geneva Papers on Risk and Insurance: Issues
and Practice, 30(2): 312-326.
Pope, Nat and Yu-Luen Ma, Spring 2005, “Applicability of the Permanent Income Hypothesis
to Life Insurance Consumption Habits,” Journal
of Financial and Economic Practice, 5(2): 1-9.
Pope, Nat and Yu-Luen Ma,
Fall 2004, “Grade-Insurance: Capitalizing on Experiential Learning
Opportunities.” Risk
Management and Insurance Review, 7(2): 189-195.
Ma, Yu-Luen and Nat Pope, 2003, “Determinants of International
Insurers’ Participation in Foreign Non-Life Market”, Journal of Risk and Insurance,
70(2): 235-248.
Ma, Yu-Luen and Joan T. Schmit, 2000, “Factors Affecting The
Relative Incidence of Uninsured Motorists Claims”, Journal of Risk and Insurance,
67(2): 281-294.
CONFERENCE
PROCEEDINGS
Ma, Yu-Luen, Nat Pope and
Xiaoying Xie, 2010, “The Cost of Insurer Reputation-Protection in the
Post-Spitzer Investigation Era: The Impact of Contingent Commission
Abandonment”, Conference Proceedings of the
2010 World Risk and Insurance Economics Congress
Ma, Yu-Luen, Nat Pope and Raymond Yeung, 2010, “Insurer Performance in the Asian
Marketplace: The Impact of Market Structure and Foreign Participation on
Market Competiveness”, Conference Proceedings of the 2010 World Risk and Insurance Economics Congress
Ma, Yu-Luen, Nat Pope and
Xiaoying Xie, 2009, “Contingent Commission and Insurer Efficiency in the
Property-Casualty Insurance Marketplace”, Conference Proceedings of
the 2009 Asia-Pacific Risk and
Insurance Association
Huang, Li-Ying, Gene Lai,
Yu-Luen Ma and Nat Pope, 2007, “Corporate Governance and Nonlife Insurance
Efficiency in the Japanese Marketplace,” Conference Proceedings of
the 2007 meeting of the Asia-Pacific Risk and Insurance
Association.
Pope, Nat and Yu-Luen Ma, 2006, “The Market
Structure-Performance Relationship in the International Insurance Sector,” Conference Proceedings of the 2006 meeting of the
Asia-Pacific Risk and Insurance
Association.
Browne, Mark, Yu-Luen Ma and Ping Wang, “Reserve
Errors and Stock Options," Conference Proceedings of the 2004 meeting
of the International Insurance Society.
(Shin Research Award)
Dana
Kerr, Yu-Luen Ma and Joan Schmit, “Is Liability a Substitute for Social
Insurance?" Conference Proceedings of the 2004 meeting of the International Insurance Society.
Carson, James M.,
Krzysztof Ostaszewski, and Yu-Luen Ma, 2003, “What is the true Value of Tax
Deferral?” The Record (Proceedings of the 2003 Society of Actuaries (SOA) spring
meeting), Washington, D.C.
Ma, Yu-Luen and Nat Pope, “Determinants
of International Insurers’ Participation in Foreign Non-Life Market.” Conference
Proceedings of the 2002 meeting of the Asia-Pacific Risk and Insurance Association.
(Best Paper Award)
HONORS
AND AWARDS
·
ADM Faculty
Scholar, 2011
·
Illinois
State University, Educating Illinois in Action, 2009
·
College of
Business, Illinois State University, Caterpillar Faculty Scholar Award, 2009
·
Department of
Finance, Insurance and Law, Illinois State University, Outstanding Research
Award, 2004, 2008, 2009
·
College of
Business, Illinois State University, Outstanding Research Award, 2008
·
International Insurance Society, Shin
Research Excellence Award, 2004
·
Journal
of Insurance Issues,
Distinguished Reviewer Award, 2003
·
American
Risk and Insurance Association, Les B. Strickler Innovation in Instruction Award, 2003
·
Asia-Pacific Risk and Insurance
Association, Best Paper Award, 2002
·
Vilas Scholarship, University
of Wisconsin-Madison, 1995, 1996
·
Northwestern Mutual Life Scholarship, 1995
·
National
Taiwan University Book Awards, 1991, 1992
RESEARCH GRANTS
“The Effect of
Sarbanes-Oxley Act on Insurer Loss Reserving Accuracy”, Faculty-Industry
Development Grant funded by Katie School of Insurance and Financial Services, Illinois State University, 2011.
“Executive
Compensation and Risk Taking in the Property and Liability Insurance
Industry”, Katie School Faculty Development Grant, Illinois
State University, 2010.
“Insurer Performance in the
Asian Marketplace: An Examination of the Impact of Market Structure and Foreign
Participation”, University Research Grants, Illinois State University,
2010.
“Growth or
Profit-Margin: Do Publicly-Traded Property-Casualty Insurers Cater to the
Market?” Katie School Research Grant, Illinois State University, 2009.
“The Cost of Insurer
Reputation-Protection in the Post-Spitzer Investigation Era: The Impact of
Contingent Commission Abandonment.” Katie School Faculty Development Grant,
Illinois State University, 2008.
“Contingent Commissions,
Insurance Intermediaries and Insurer Efficiency.” Katie School Research
Grant, Illinois
State University, 2007.
“Do Extensive Government
Social Programs Reduce Liability Costs?” Katie School Research
Grant, Illinois
State University, 2006.
“The Relationship between
Stock Options and Loss Reserves by Property-Liability Insurers.” Katie School Research Grant, Illinois State University, 2005.
“Market Competition and Insurance Pricing: An International Analysis.”
Katie School
Research Grant, Illinois State University, 2004.
“Geographic Diversification
and Corporate Performance: An Analysis of Property-Liability Insurers.” Katie School Research Grant, Illinois State University, 2003.
“Factors affecting Global
Life Insurers’ Foreign Involvement.” University Research Grant, Illinois State University, 2003.
“Does Product
Diversification Lead to Better Financial Performance for Insurers?”, Katie School Research Grant, Illinois State University, 2002.
“Grade Insurance:
Capitalizing on Classroom Learning Opportunities.” Katie School Faculty Development Grant, Illinois State University, 2002.
"What Determines International Insurers’ Foreign Market Entry?”
Faculty of Commerce and Economics
Research Grant, University of New South Wales,
Sydney, Australia, 2001.
"Plan Choice and Demand for Employer-Provided Health
Insurance.” Faculty of Commerce and Economics
Research Grant, University of New South Wales,
Sydney, Australia, 2000.
PRESENTATIONS
AT PROFESSIONAL MEETINGS
“Executive Compensation
and Risk Taking in the Property and Liability Insurance Industry.” (with
Mark Browne and Ping Wang) International Conference on Insurance and Risk
Management meeting, Beijing, China, July 2011.
“Do
Publicly-Traded Property-Casualty Insurer Cater to the Stock Market?” (with
Yayuan Ren) Western Risk and Insurance Association (WRIA) meeting, Santa
Barbara, CA, January, 2011.
“The Cost of Insurer
Reputation-Protection in the Post-Spitzer Investigation Era: The Impact of
Contingent Commission Abandonment” (with Nat Pope and Xiaoying Xie) World Risk and Insurance Economics Congress (WRIEC) meeting, Singapore, July, 2010.
“Insurer Performance in the Asian
Marketplace: The Impact of Market Structure and Foreign Participation on
Market Competiveness.” (with Nat Pope and Raymond Yeung) World Risk and Insurance Economics Congress (WRIEC)
meeting, Singapore, July, 2010.
“Growth versus Profit Margin: Corporate Strategy Analysis
of Property-Casualty Insurers.” (with Yayuan Ren) American Risk and
Insurance Association (ARIA) meeting, Providence, RI, August, 2009.
“Contingent Commission
and Insurer Efficiency in the Property-Casualty Insurance Marketplace.”
(with Nat Pope and Xiaoying Xie) Asia-Pacific Risk and Insurance
Association (APRIA) meeting, Beijing, China, July, 2009.
“Executive Compensation
and Reserve Errors in the Property and Casualty Insurance Industry.” (with
Mark Browne and Ping Wang) American Risk and Insurance Association (ARIA)
meeting, Portland, OR, August, 2008.
“Contingent commission,
insurance intermediaries and insurer performance.” (with Nat Pope and
Xiaoying Xie) American Risk and Insurance Association (ARIA) meeting,
Portland, OR, August, 2008.
“Corporate Governance and
Nonlife Insurance Efficiency in the Japanese Marketplace.” (with Li-Ying
Huang, Gene Lai and Nat Pope) Asia-Pacific Risk and Insurance
Association (APRIA) meeting, Taipei, Taiwan, July, 2007.
“Efficiency and Corporate
Governance in the Japanese Non-Life Insurance Market.” (with Li-Ying Huang,
Gene Lai and Nat Pope) American Risk and Insurance Association (ARIA)
meeting, Quebec City, Canada, August, 2007
“Do Extensive Government
Social Programs Reduce Liability Costs?” (with Dana Kerr and Joan Schmit) American Risk and Insurance Association (ARIA)
meeting, Washington D.C., August, 2006.
“The Market Structure-Performance Relationship in
the International Insurance Sector.” (with Nat Pope) Asia-Pacific
Risk and Insurance Association (APRIA) meeting, Tokyo, Japan,
July, 2006.
“Global Deregulation and
Liberalization: A Profitable Proposition for the International Insurance Industry?”
(with Nat Pope) Southern Risk and Insurance Association (SRIA) meeting,
Orlando, FL, November, 2005.
“Geographic Diversity and Corporate Performance: An Analysis of
Property-Liability Insurers.” (with Elango B.) American Risk and
Insurance Association (ARIA) meeting, Chicago, IL,
August, 2004.
“The Nature of
Regulation: The Japanese Auto Insurance Market.” (with Nat Pope) American Risk and Insurance Association
(ARIA) meeting, Chicago, IL, August, 2004.
“Reserve
Errors and Stock Options.” (with Mark Browne and Ping Wang) International
Insurance Society (IIS) meeting, London, U.K., July, 2004.
“Is
Liability a Substitute for Social Insurance?” (with Joan Schmit and Dana Kerr) International Insurance Society
(IIS) meeting, London, U.K., July, 2004.
“National Market Liberalization and its Impact on
Pricing Competitiveness: the Case of Non-Life Insurance.” (with Nat
Pope) Western Risk and Insurance
Association (WRIA) meeting, Las Vegas, NV, January 2004.
“The
Merits of Tax-Deferral.” (with Jim Carson and Krzysztof Ostaszewski) Western Risk and Insurance Association
(WRIA) meeting, Las Vegas, NV, January 2004.
“The Ups and Downs of
Tax-Deferral.” (with Jim Carson and Krzysztof Ostaszewski) Southern Risk and Insurance
Association (SRIA) meeting, Clearwater, FL, November, 2003.
“Liberalization and
Insurance Market Efficiencies: The Impact of International Insurers on
Foreign National Markets.” (with Nat Pope) Southern Risk and Insurance
Association (SRIA) meeting, Clearwater, FL, November, 2003.
“Grade-Insurance:
Capitalizing on Experiential Learning Opportunities.” (with Nat Pope) American Risk and Insurance Association
(ARIA) meeting, Denver, CO, August, 2003 (invited presentation).
“Reserve Errors and Stock
Options.” (with Mark Browne and Ping Wang) American
Risk and Insurance Association (ARIA)
meeting, Denver, CO, August, 2003.
“Does Product
Diversification Lead to Better Financial Performance for Insurers?” (with
B. Elango) American
Risk and Insurance Association (ARIA)
meeting, Denver, CO, August, 2003.
“Competitive Advantages and Insurance
Pricing: The Impact of Market Deregulation.” (with Nat Pope) American Risk and
Insurance Association (ARIA) meeting,
Denver, CO, August, 2003.
“What is the True Value
of Tax Deferral?” (with Jim Carson and Krzysztof Ostaszewski) Society of Actuaries (SOA) meeting,
Washington, D.C., May, 2003.
“Determinants of International
Life Insurers’ Involvement in Foreign Market.” American
Risk and Insurance Association (ARIA)
meeting, Montreal, Canada, August, 2002.
“Determinants of International
Insurers’ Participation in Foreign Non-Life Market.” Asia-Pacific
Risk and Insurance Association (APRIA) meeting,
Shanghai, China, July, 2002.
“Determinants of International
Life Insurers’ Involvement in Foreign Market.” Western Risk and Insurance Association
(WRIA) meeting, San Diego, CA, January, 2002.
“Determinants of International
Insurers’ Participation in Foreign Non-Life Market.” American
Risk and Insurance Association (ARIA) meeting, Indianapolis, IN, August, 2001.
“The Japanese Big Bang -
Sizzle or Fizzle? The Impact of Deregulation on Non-Life Insurer
Efficiency.” (with Nat Pope) American
Risk and Insurance Association (ARIA) meeting,
Indianapolis, IN, August, 2001.
“Determinants of Foreign
Insurers’ Access to Domestic Markets: An International Analysis.” Western
Risk and Insurance Association (WRIA) meeting, Santa Barbara, CA, January, 2001.
“Premium Cross-Subsidization and Plan Choice: An Empirical Study of
the Group Health Insurance Markets.” Western Risk and Insurance
Association (WRIA) meeting, Monterey, CA, January, 2000.
“Premium Cross-Subsidization and Choice in the Group Health
Insurance Market.” American Risk and Insurance Association (ARIA)
meeting, Boston, MA, August, 1998.
“Factors Affecting the Percentage of Uninsured Motorists.” (with
Joan T. Schmit) American Risk and Insurance
Association (ARIA) meeting, Boston, MA, August, 1998.
SERVICE
University
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2011
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§
Member, Curriculum Committee, College of
Business
§ Member, Honors Committee, Department of Finance, Insurance
and Law
§ Member, Research
Committee, Department of Finance, Insurance and Law
§ Advisor, Gamma Iota Sigma
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2010
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§
Member, Curriculum Committee, College of
Business
§
Member, Honors
Committee, Department of Finance, Insurance and Law
§
Member, Research Committee, Department of
Finance, Insurance and Law
§
Advisor, Gamma
Iota Sigma
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2009
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§
Member, Caterpillar Excellence Fund Scholarship
Committee, College of Business
§
Member, Honors Committee, Department of Finance,
Insurance and Law
§
Member, Research Committee, Department of
Finance, Insurance and Law
§
Advisor, Gamma
Iota Sigma
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2008
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§ Secretary, MQM Chairperson Search Committee, College of Business
§ Member, Human Resource Committee, College of Business
§ Member, Honors Committee, Department of Finance,
Insurance and Law
§ Member, Research Committee, Department of Finance,
Insurance and Law
§
Advisor, Gamma
Iota Sigma
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2007
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§ Human Resource Committee, College of Business
§ Research Committee, Department of Finance, Insurance
and Law
§
Advisor, Gamma
Iota Sigma
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2006
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§ Human Resource Committee, College of Business
§ Institutional Review Board, Illinois State
University
§
Advisor, Gamma
Iota Sigma
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2005
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§ Human Resource Committee, College of Business
§ Institutional Review Board, Illinois State
University
§
Advisor, Gamma
Iota Sigma
§
Honors Committee, Department of Finance,
Insurance, and Law
§
Master Thesis Dissertation Committee, Department
of Mathematics
§
Advisor, Taiwanese Student Association
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2004
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§ Technology and Physical Environment Committee, College of Business
§ Institutional Review Board, Illinois State
University
§
Advisor, Gamma
Iota Sigma
§
Honors Committee, Department of Finance,
Insurance, and Law
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2003
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§ Technology and Physical Environment Committee, College of Business
§ Institutional Review Board, Illinois State University
§
Advisor, Gamma
Iota Sigma
§
Honors Committee, Department of Finance Insurance
and Law
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2002
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§ Technology and Physical Environment Committee, College of Business
§ Institutional Review Board, Illinois State University
§
Advisor, Gamma
Iota Sigma
§
Honors Committee, Department of Finance Insurance
and Law
§
Community for Our Community Fund Liaison
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2001
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§
Advisor, Gamma
Iota Sigma
§
Honors Committee, Department of Finance Insurance
and Law
§
Community for Our Community Fund Liaison
§
Commerce Society Liaison Officer, University of New South Wales
§
Social Science and Humanities Library Advisory
Committee, University of New South Wales
§
Library Liaison Officer, School of Banking and Finance,
University of New South Wales
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2000
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§ Social
Science and Humanities Library Advisory Committee, University of New South Wales
§ Library
Liaison Officer, School
of Banking and Finance, University
of New South Wales
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Professional
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2011
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§
Member,
Scholarship Committee, Society of Insurance Trainers and
Educators
§
Member, Program Committee, Asia
Pacific Risk and Insurance Association
§
Member, Teaching
Awards Committee, American Risk and Insurance Association
§
Reviewer, Journal of Banking
and Finance
§
Reviewer, Journal of Risk Finance
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2010
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§
Outside reviewer of Promotion and Tenure Review, University of
Hartford
§
Member, Program Committee of
the Hagen Family Foundation Travel Award, American Risk and Insurance
Association
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2009
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§
Reviewer, Risk Management and
Insurance Review.
§
Reviewer, Journal of
Insurance Regulation.
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2008
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§
Reviewer, Risk Management and
Insurance Review.
§
Mentor, American Risk and Insurance Association annual meeting
§
Moderator, American Risk and Insurance Association annual meeting
§
Member, Teaching
Awards Committee, American Risk and Insurance Association
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2007
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§ Referee, Journal
of Risk and Insurance
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2006
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§
Chair,
Teaching Awards Committee,
American Risk and Insurance
Association
§
Member, Journal of Risk and
Insurance Editor Search Committee
§ Referee, Journal
of Risk and Insurance
§ Referee, Journal
of Insurance Issues
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2005
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§ Referee, Journal
of Risk and Insurance
§ Referee, Journal
of Insurance Issues
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2004
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§
Referee, Risk Management and Insurance
Review
§
Referee, Journal of Risk and Insurance
§ Program
Committee, American Risk and Insurance Association
§
Moderator, Western
Risk and Insurance Association meeting
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2003
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§
Referee, Journal of Risk and Insurance
§
Referee, Journal of Insurance Issues
§
Moderator, American
Risk and Insurance Association annual meeting
§ Program
Committee, American Risk and Insurance Association
§
Hardigree Award
Committee, Journal of Insurance Issues
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2002
|
§
Referee, Journal of Risk and Insurance
§
Referee, Journal of Insurance Issues
§
Moderator, American
Risk and Insurance Association meeting
§
Moderator, Asia-Pacific Risk and Insurance
Association meeting
§
Moderator, Western
Risk and Insurance Association meeting
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2001
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§ Referee, Journal of Risk and Insurance
§ Referee, Journal of Insurance Issues
§
Proposal Review Committee, American Risk and Insurance Association
§
Moderator, American
Risk and Insurance Association meeting
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1999
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§ Proposal
Review Committee, The 12th Australian Finance and Banking
Conference, Sydney, Australia
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PROFESSIONAL
MEMBERSHIP
American Risk and Insurance Association
(ARIA)
Southern Risk and Insurance
Association (SRIA)
Western Risk and Insurance Association
(WRIA)
Asia-Pacific Risk and Insurance Association
(APRIA)
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