test how risk management and financial intermediation activities create value for insurers by enhancing economic efficiency …. Insurer cost efficiency is measured relative to an econometric cost frontier. Since the prices of risk management and … cost efficiency. The econometric results show that both activities significantly increase the efficiency of the property …

The objective of this paper is to discuss the use of modern frontier efficiency analysis to analyze firm performance in … research to incorporate the frontier efficiency approach. The chapter also serves as a guide for those who are already … conducting frontier efficiency analysis but are seeking guidance in using the methodology or defining inputs and outputs. We …

efficiency and in technology gap of European Union (EU) insurance markets. We evaluate 10 EU life insurance markets over the … period 1998-2014. Results show convergence in cost/revenue efficiency among major EU life insurance markets during the sample … global financial crisis has led to a slowdown in the progress of integration and convergence in efficiency and technology gap …

to efficient ones,our results suggest that efficiency is the mechanism through which competition contributes to insurer …

The paper examines efficiency and productivity of US property-liability (P-L) insurers using data envelopment analysis … (DEA). We estimate pure technical, scale, cost, revenue and profit efficiency over the period 1993-2011. Insurers' adjacent … relationship of insurers' efficiency with their ownership structure, product and distribution strategies. Regression analyses are …

This paper analyzes the efficiency of stock and mutual organizational forms in the property-liability insurance … industry using nonparametric frontier efficiency methods. We test the managerial discretion hypothesis, which predicts that the …

This paper examines the relationship between firm efficiency and stock market reaction to acquisitions and divestitures … estimate firm cost and revenue efficiency. Abnormal returns are measured using the standard market model event study … methodology. We then conduct multiple regression analysis with cumulative abnormal returns as dependent variables and efficiency …