Professor Michael B Adams

Professor Michael B Adams

Contact Details:

+44 (0) 1225 385685
Michael B Adams


BA, MSc, PhD, CPFA, ACMA
Job Title: Professor in Strategic Risk Management
Subject Group: Business, Society and Business Economics
Key Research Interests: Interface between risk management and strategic finance; corporate governance and risk; accounting issues in insurance; historical development of insurance markets; economic efficiency and market structure in insurance markets.

Research Interests

Mike Adams is Professor of Strategic Risk Management and Director of the Research Centre in Strategic Risk at the University of Bath. Formerly he held academic positions at the Universities of Swansea, Glasgow, and Massey (New Zealand), and professional accountancy positions in the private and public sectors. He has published papers in over 60 academic journals and is thrice winner of the Geneva Association/Shin Foundation Research Excellence Award.

In 2011 Professor Adams was awarded the Kenneth J Black Jr Distinguished Service Award for services to the International Insurance Society (IIS). He is the UK Ambassador for the IIS, and member of the Worshipful Company of Insurers and the Willis Research Network. He maintains strong research ties with academic colleagues at the Centre for Risk and Insurance Studies (CRIS), University of Nottingham and the Chinese Accounting, Finance and Business Research Unit (CAFBRU), at Cardiff Business School.

Professor Adams is also an international research fellow at the Chinese Center for Social Security and Insurance Research (CCSSIR), Peking University, China, the Handelsbanken-Wallander Research Fellow at the Department of Economic History, Umeå University, Sweden, and visiting Professor at the International Center for Insurance Regulation (ICIR), Goethe University of Frankfurt.

In addition, he has been appointed as consultant for several financial institutions both in the UK and overseas and is a specialist insurance advisor for the New Zealand Inland Revenue. Professor Adams is also Associate Editor of the British Accounting Review, the flagship academic journal of the British Accounting and Finance Association (BAFA).

PhD Supervision

Joy Yihui Jia-Upreti - Willis Doctoral Research Fellow
Vineet Upreti - Willis Doctoral Research Fellow
Elena Veprauskaite - Government Actuary Doctoral Research Scholar
Ola Olaosebikan - RGA Doctoral Research Scholar
Julia Rozhkovskaya - Axco Doctoral Research Scholar

Recent Publications 2001 to date

Refereed Journal Papers

Zou, H, Adams, M.B and Xiao, J.Z (Forthcoming). Does Board Independence Matter for corporate insurance Hedging? Journal of Financial Research

Jia J Y, Adams M B and Buckle M J (Forthcoming ) Ownership structure and insurance in India's corporate sector. Asia Pacific Journal of Management. DOI: 10.1007/s10490-009-9190-z

Adams M B, Andersson L-F, Jia J Y, and Lindmark M (2011) Mutuality as a control for information asymmetry: A historical analysis of the claims experience of mutual and stock fire insurance companies in Sweden 1889-1939. Business History, 53(7): 1074 -1091. DOI:10.1080/00076791.2011.618233

Hardwick P, Adams M B and Zou H (2011) Profit efficiency and corporate governance in the UK life insurance industry Journal of Business Finance and Accounting, 38(7-8): 987-1015. DOI: 10.1111/j.1539-6975.2011.01-409.x

Jia J Y, Adams M B and Buckle M J. (2011) The strategic use of insurance in the Chinese corporate sector. European Journal of Finance, 17(7-8):675-694 DOI:10.1080/1351847X.2011.554281

Adams M B, Zon H and Chen L. (2011). Chief Executive Officer incentives, monitoring and corporate risk management: Evidence from insurance use. Journal of Risk and Insurance. 78(3): 551-DOI: 10.1111/j.1539-6975.2011.01409.x

Abdul Kader H, Adams M B and Mouritidis K (2010) Testing for trade-offs in the reinsurance decision of United Kingdom (UK) life insurance firms. Journal of Accounting, Auditing and Finance, 25(3): 491-522. DOI:10.1007/s10490-009-9190z

Abdul Kader H, Adams M B, Andersson L-F and Lindmark M (2010) The Determinants of reinsurance in the Swedish property fire insurance market during the inter-war years 1919-1939. Business History. 52(2) 268-284. DOI: 10.1080/00076791003610683

Abdul Kader H, Adams M B and Hardwick P (2010) The cost efficiency of Takaful insurance companies. Geneva Papers on Risk and Insurance: Issues and Practice. 35 (1): 161-181 DOI: N/A

Zou H and Adams M B. (2009) Corporate insurance and debt in China. Journal of Applied Corporate Finance 22(1): 87-89 DOI: 10.1111/j.1745-6622.2009.00219.x

Adams M B, Andersson J, Andersson L-F and Lindmark M (2009) Commercial banking, insurance and economic growth in Sweden between 1830-1998. Accounting, Business and Financial History. 19(1): 19-36. DOI: 10.1080/09585200802667139

Zou H and Adams M B. (2008) Debt capacity, cost of debt and corporate insurance. Journal of Financial and Quantitative Analysis. 42(2) 433-466. DOI: N/A

Zou H and Adams M B (2008) Corporate ownership, equity risk and return in the People's Republic of China. Journal of International Business Studies. 39(7) 1149-1168. DOI: 10.1057/palgrave.jibs.8400394

Adams M B, Hardwick P and Zou H. (2008) Reinsurance and corporate taxation in the UK life insurance industry. Journal of Banking and Finance. 32(1) 101-115. DOI: 10.1016/j.jbankfin.2007.09.006

Lindmark M, Andersson L-F and Adams M B. (2006) The evolution and development of the Swedish insurance market. Accounting, Business and Financial History. 16 (3): 340-371DOI: 10.1080/09585200600969398

Ahmed K, Hossain M and Adams M B. (2006) The effects of board composition and board size on the informativeness of annual accounting earnings. Corporate Governance: An International Review. 14(5): 418-431. DOI: 10.1111/j.1467-8683.2006.00515.x

Adams M B and Zou H (2006) The corporate purchase of property insurance: Evidence from the People's Republic of China. Journal of Financial Intermediation. 15 (2): 165-196. DOI: 10.1016/j.jfi.2004.06.007

Adams M B (2004)  Real options and customer management in the financial services sector. Journal of Strategic Marketing. 12: 3-11. Click here for article Description: external websiteDOI: 10.1080/0965254032000171573

Adams M B and Hardwick P (2003)  Actuarial surplus management in United Kingdom life insurance firms. Journal of Business Finance and Accounting. 30 (5): 891-904. DOI: 10.1111/1468-5957.05505

Zou H, Adams M B and Buckle M J (2003)  Corporate risks and property insurance: Evidence from the People's Republic of China. Journal of Risk and Insurance. 70 (2): 289-314. DOI: 10.1111/1539-6975.00061

Adams M B, Burton B and Hardwick P (2003) The determinants of credit ratings in the United Kingdom insurance industry. Journal of Business Finance and Accounting. 30 (3-4): 539-572. DOI: 10.1111/1468-5957.00007

Adams M B and Hardwick P (2003) Claims estimation in life insurance firms: United Kingdom and New Zealand evidence. Risk Management: An International Journal. 5(1): 51-63 DOI: 10.1057/palgrave.rm.8240139

Adams M B and Buckle M J (2003) The determinants of operational performance in the Bermuda insurance industry. Applied Financial Economics. 13(2): 133-143. DOI: 10.1080/09603/100210105030

Hardwick P and Adams M B (2002)  Firm size and growth in the United Kingdom life insurance industry. Journal of Risk and Insurance. 69(4): 577-593 DOI: 10.1111/1539-6975.00038

Adams M B and Hillier D J (2002) Do insurance captives enhance shareholders' value? Risk Management: An International Journal. 4(1): 29-39 DOI: 10.1057/palgrave.rm.8240107

Khaled M, Adams M B and Pickford M (2001) Estimates of scale and scope economies in the New Zealand Life Insurance Industry. The Manchester School 69(3): 327-349. DOI: N/A


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