Gene Lai Faculty: Safeco Distinguished Professor of Insurance Department Chair Department of Finance Washington State University, Pullman Office: Todd 488 Phone: 509-335-7197 Email: genelai@wsu.edu Home Page: www.cb.wsu.edu/~glai Media: Please contact Frances Ryan for more information         Expertise: Finance: Corporate finance Finance: Market efficiency Risk Management and Insurance Teaching Area: MBA - Finance Undergraduate - Finance Undergraduate - Risk Management & Insurance Research: Alternative Risk Financing     Securitization, Captive insurance Efficiency Issues     Data Envelopment Analysis (DEA) to examine efficiency issues of different organization structure in the financial services industry Underwriting Cycles     Business Cycles, Commercial Liability Insurance Crisis Stock Repurchase     Stock Repurchase, Market Reactions and Capital Investment Dividend Policy     Dividend Policy, Market Reactions, and Capital Investments Education: Ph.D., Risk Management & Insurance and Finance, University of Texas at Austin, 1987 MS, Decision Science, Georgia State University, 1981 BS, Economics, National Chengchi University in Taiwan, 1975 Professional Memberships: American Risk and Insurance Association Asia Pacifica Risk and Insurance Association Financial Management Association Risk Theory Society Western Risk and Insurance Association Publications: Article (Refereed journal): "The Wealth Effect of Demutualization: Evidence from the U.S. Property-Liability and Life Insurance Industries," Journal of Risk and Insurance, 2008     Article (Refereed journal): "Estimating the Cost of Equity for Property-Liability Insurance Companies," Journal of Risk and Insurance, 2008     Article (Refereed journal): "Efficiency, and Demutualizations: Evidence from the US Life Insurance Industry in the 1980s and 1990s," Journal of Risk and Insurance, 2007     Article (Refereed journal): "Ownership Structure, Agency Costs and Efficiency: Analysis of Keiretsu and Independent Insurers in Japanese Non-life Insurance Industry(with Vivian Jeng)," Journal of Risk and Insurance, 2005     Article (Refereed journal): "Employee Protection and Tax Deductibility Issues when Insuring Insuring Employee Benefits through a Captive Insurance Company," Journal of Insurance Issues, 2004     Article (Refereed journal): "Organization Structure and Firm Performance: Empirical Evidence from the Japanese Non-Life Insurance Industry," Journal of Risk and Insurance, 2003     Article (Refereed journal): "A Further Analysis of Large Losses Impact Upon Firm Value," The Journal of Insurance Issue, 2002     Article (Refereed journal): "Great (and not so Great) Expectations: An Endogenous Economic Explication of Insurance Cycles and Liability Crises," Journal of Risk and Insurance, 2000     Article (Refereed journal): "Underwriting Cycles in Property and Liability Insurance: An Empirical Analysis of Industry and By-Line Data," Journal of Risk and Insurance, 1998     Article (Refereed journal): "A Financial-Economic Evaluation of Insurance Guaranty Fund System: An Agency Cost Perspective," Journal of Banking and Finance, 1997     Article (Refereed journal): "An Analysis of Securitization in the Insurance Industry," Journal of Risk and Insurance, 1995     Article (Refereed journal): "The Tax Deductibility of Captive Insurance Premiums: An Assessment and Alternative Perspective," Journal of Risk and Insurance, 1995     Article (Refereed journal): "Changed Insurer Expectations: An Insurance-Economics View of the Commercial Liability Insurance Crisis," Journal of Insurance Regulation, 1992     Article (Refereed journal): "The Tax Deductibility of Premiums Paid to Captive Insurers: A Risk Reduction Approach," Journal of Risk and Insurance, 1991     Experience:    Teaching Distinguished Visiting Professor, Feng Chia University, Taiwan, 2007 Visting Professor, Feng Chia University, Taiwan, 2004-2006 Visting Professor, National Economic University, Vietnum, 2003-2005 Safeco Distinguished Professor of Insurance, Washington State University, 2000 Professor, University of Rhode Island, 1998-2000 Visiting Professor, Peking University, 1996 Visiting Professor, National Taiwan University, 1994 Associate Professor, University of Rhode Island, 1993-1998 Assistant Professor, University of Rhode Island, 1988-1993 Service: Department of Finance, Insurance, and Real Estate, Chair Taiwanese Student Association, Faculty Advisor Finance Board, Member RMI Board, Member American Risk and Insurance Association, Vice President and Program Chair American Risk and Insurance Association, Board Member Journal of Risk and Insurance, Associate Editor Journal of Insurance Issues, Co-editor Asia Pacific Journal of Risk and Insurance, Associate Editor Regent Scholar Selection Committee, Member Department of Finance, Insurance, and Real Estate, Chair Taiwanese Student Association, Faculty Advisor American Risk and Insurance Association, Board Member Journal of Risk and Insurance, Associate Editor Journal of Insurance Issues, Co-Editor Alive, Faculty Representative Department of Finance, Insurance, and Real Estate, Chair Taiwanese Student Associate, Faculty Advisor Finance Search Committee, Vancouver Campus, Assistance American Risk and Insurance Association, Board Member Journal of Risk and Insurance, Associate Editor Journal of Insurance Issues, Co-Editor Asia Pacific Jurnal of Risk and Insurance, Associate Editor Finance, Insurance, Real Estate Executive Board, Board Member Risk Management and Insurance Advisory Board, Board Member Commencement, Participates Alive, Participates Regency Scholarship Evaluator, Evaluator International Business Institute, Fellow Department of Finance, Insurance, and Real Estate, Chair Finance Workshop, Coordinator Taiwanese Student Association, Faculty Advisor Finance, Insurance, and Real Estate Advisory Board, Member Graduate Program Policy Committee, Member American Risk and Insurance Association, Board member Journal of Insurance Issues, Co-Editor Tenure and Promotion Review for Auburn University, Outside reviewer WSU 2005 Fall Commencement, Attendee CBE Tenure and Promotion Committee, Committee Member Taiwanese Student Association, Faculty Advisor Risk Management and Insurance Advisory Board, Board member Journal of Risk and Insurance, Extraordinary Editor Journal of Insurance Issues, Associate Editor Asia Pacific Journal of Risk and Insurance, Associate Editor Risk Theory Association, Treasurer Asia-Pacific Risk and Insurance Association, Board member Western Risk and Insurance Association, President, Immediate Past President and Board Member Robert C. Witt Research Award Committee, Committee Member Department of Finance at Metropolitan State College of Denver, External Reviewer Taiwanese Insurance Development Institute, Advisor to Chairman of Board of Director Western Risk and Insurance Association, President APRIA Journal Preparation Committee, Chair Tenure and Promotion Committee, Member Taiwanese Student Association, Faculty Advisor Asia-Pacific Risk and Insurance Association, Board member Journal of Insurance Issues, Associate Editor Journal of Risk Management, Associate Editor International Journal of Business and Economics, Associate Editor Journal of Insurance Issues, Associate Editor Journal of Risk Management, Associate Editor Western Risk and Insurance Association, President Elect Asia-Pacific Risk and Insurance Association, Board of Governors Program Committee/ American Risk and Insurance Association, Committee Member Book Award Committee/ American Risk and Insurance Association, Committee Member Journal of Insurance Issues, Associate Editor Western Risk and Insurance Association, Treasurer Asia-Pacific Risk and Insurance Association, Board of Governors Program Committee/ American Risk and Insurance Association, Program Committee Book Award Committee/ American Risk and Insurance Association, Committee Member Taiwanese Student Association, Faculty Advisor Tenure and Promotion Committee, Committee Member Awards: Dean's Excellence Fellow , College of Business, Washington State University , 2007 Dean's Excellence Fellow , College of Business, Washing State University , 2006 Dean's Excellence Fellow , College of Business and Economicston, Washing State University , 2005 The Journal of Risk and Insurance article downloaded most in 2004 , Journal of Risk and Insurance , 2005 CBE Teaching Innovation Award , Washington State University , 2004 Donald Hardigree Memorial Outstanding Paper Award, "A Further Analysis of Large Losses Impact Upon Firm Value" , Western Risk and Insurance Association , 2003 Honorary Member , Golden Key International Honour Society , 2002 Best Paper Award, "Great (and not so Great) Expectations: An Endogenous Economic Explication of Insurance Cycles and Liability Crises" , The Casualty Actuarial Society , 2001 Second Prize, Brian Hey Prize "Great (and not so Great) Expectations: An Endogenous Economic Explication of Insurance Cycles and Liability Crises" , Institute of Actuaries, United Kingdom , 2000 Winner of Online Services Prize Program, "On Liability Insurance Crisis" , Casualty Actuarial Society Committee , 1998 Citation of Excellence, "A Financial -Economic Evaluation of Insurance Guarantee Fund System: An Agency Cost Perspective" , ANBAR Electronic Intelligence , 1998 Teaching Excellence Award , Beta Gamma Sigma, National Honor Society in Business and Management , 1998 Outstanding Paper Award, "The Tax Deductibility of Captive Insurance Premiums: An Assessment and Alternative Perspective" , College of Business Administration at University of Rhode Island , 1996 Outstanding Paper Award, "Ambiguity, Underwriting, and Insurance Pricing" , International Insurance Society , 1994 Inaugural award, "Changed Insurer Expectations: An Insurance-Economics View of the Commercial Liability Crisis" , Journal of Insurance Regulation , 1993 The P-W Industries Inc. Award, "Money, Real Income, and Causality: The Canadian Experience -- New Evidence" , Northeast Regional Conference of the Decision Sciences Institute , 1991 Member of , Risk Theory Association , 1988 Web Links: Finance 425 Insurance 320 Languages: English Taiwanese Chinese/Mandarin                                                         Contact us: business@wsu.edu Phone: 888-585-5433 Fax: 509-335-3851 | Accessibility | Copyright | Policies College of Business, PO Box 644750, Washington State University, Pullman, WA 99164-4750 USA