This paper evaluates the efficiency of the twenty-one largest Syndicates of Lloyd's of London. Members of Lloyd's of … 2004 and 2011. Data Envelopment Analysis (DEA) and Stochastic Frontier Analysis (SFA) are used to estimate the efficiency …, that the average annual efficiency estimates for all Syndicates are plausible and they follow three-year cycles. Secondly …

We estimate economies of scale and scope as well as cost efficiency to explain the structure of the global reinsurance … high cost efficiency; small reinsurers exhibit superior efficiency only when they are specialized. The evidence is in line …

This study investigates whether the capital market values the efficiency of firms. After tracing stock returns and … efficiency changes of 399 listed insurance firms in 52 countries during the 2002-2008 period, the paper reports a positive and … statistically significant relationship between profit efficiency change and market adjusted stock returns. However, there is no …

achieving risk-return efficiency. We first estimate the expected returns, risks, and financial distress risk proxy (the inverse … z-score), then apply the stochastic frontier analysis (SFA) to obtain the risk-return efficiency score for each bank …, and finally conduct ordered logit regressions of bank ratings on estimated risks, risk-return efficiency, and the inverse …

achieving risk-return efficiency. We first estimate the expected returns, risks, and financial distress risk proxy (the inverse … z-score), then apply the stochastic frontier analysis (SFA) to obtain the risk-return efficiency score for each bank …, and finally conduct ordered logit regressions of bank ratings on estimated risks, risk-return efficiency, and the inverse …

under which globalization factors foster technology efficiency. In this paper, we extend the MSS model by combining panel … technical efficiency has monotonically decreased for low income countries, supporting the so-called club convergence hypothesis … improve production technology and efficiency position relative to the frontier only after the country has reached a certain …

significant supervisory and regulatory reforms affecting banks efficiency performance. We offer new insights investigating overall … that persistent efficiency seems to be more important for both specifications, as it accounts for 32\% (for the production …