This paper uses the DEA-CCR and the DEA-BCC models to evaluate the performance of Greek life insurance companies in the period 1994 to 2003, combining operational and financial variables. These models identify adequately the inefficient companies, but are weak in discriminating among those found...

Since the 1960s, there is an ongoing debate on dividend policy, which remains a controversial issue to this day. Why do firms pay dividends? For decades, the academics have not been able to agree on any convincing explanation, and the same time, many even claim that firms should not pay...