A numbers of studies focusing on the determinant of the insurance market efficiency haveincreased in the last decade …. In fact, many factors, like the CEO's power, can influence the efficiency in the insurance firm. The purpose of this … research is to analyze the relationship between efficiency, measured by the cost function using the stochastic frontier …

, efficiency gains resulting from managerial effort are not merger specific, i.e., they may be realized by all firms before and … policy is that consumer surplus may be monotonically decreasing in the synergy level, which opposes the use of an efficiency … defense in merger control. -- Managerial Incentives ; Horizontal Mergers ; Antitrust ; Productive Efficiency Gains ; Synergies …

actually reduce consumer surplus which opposes the use of an efficiency defense in merger control. …