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題名 The Impact of Deregulation and Liberalization on Efficiency: An Analysis of the Life Insurance Industry in Taiwan from 1981-2004
作者 Jeng, Vivian ; Lai, Gene C.
鄭士卿;賴志仁
貢獻者 風管系
日期 2000-08
上傳時間 5-十二月-2008 12:52:39 (UTC+8)
摘要 We examine the impact of deregulation and liberalization (D&L) on the efficiency of the Taiwanese life insurance industry from 1981 to 2004. We utilize the data envelopment analysis (DEA) to measure the efficiency performances and the Malmquist index approach to measure changes in efficiency and productivity over time. Both the DEA and Malmquist results show that the old domestic firms have been slightly impacted by the new competitors around 1992–1994 (the end of foreign and new local entry period and the beginning of post-D&L period). More important, our results show that the D&L does not have major adverse impact on the technical, cost, and revenue efficiency performances of existing domestic firms in the long run. The dominance of existing domestic firms has declined but persists throughout the sample period. In addition, our results show that it is relatively easy for new firms to become technically efficient in just few years after entering the market, but it is more difficult for them to become efficient in cost and revenue efficiency. We, thus, suggest that a new market entrant should take advantage of the existing mechanisms by acquiring an old (existing) firm, rather than establish a new one, if a new entrant wants to become efficient in cost and revenue efficiency in a short time.
關聯 Risk Management and Insurance Review, 11(2), 349-375
資料類型 article
dc.contributor 風管系-
dc.creator (作者) Jeng, Vivian ; Lai, Gene C.en_US
dc.creator (作者) 鄭士卿;賴志仁-
dc.date (日期) 2000-08en_US
dc.date.accessioned 5-十二月-2008 12:52:39 (UTC+8)-
dc.date.available 5-十二月-2008 12:52:39 (UTC+8)-
dc.date.issued (上傳時間) 5-十二月-2008 12:52:39 (UTC+8)-
dc.identifier.uri (URI) https://nccur.lib.nccu.edu.tw/handle/140.119/12814-
dc.description.abstract (摘要) We examine the impact of deregulation and liberalization (D&L) on the efficiency of the Taiwanese life insurance industry from 1981 to 2004. We utilize the data envelopment analysis (DEA) to measure the efficiency performances and the Malmquist index approach to measure changes in efficiency and productivity over time. Both the DEA and Malmquist results show that the old domestic firms have been slightly impacted by the new competitors around 1992–1994 (the end of foreign and new local entry period and the beginning of post-D&L period). More important, our results show that the D&L does not have major adverse impact on the technical, cost, and revenue efficiency performances of existing domestic firms in the long run. The dominance of existing domestic firms has declined but persists throughout the sample period. In addition, our results show that it is relatively easy for new firms to become technically efficient in just few years after entering the market, but it is more difficult for them to become efficient in cost and revenue efficiency. We, thus, suggest that a new market entrant should take advantage of the existing mechanisms by acquiring an old (existing) firm, rather than establish a new one, if a new entrant wants to become efficient in cost and revenue efficiency in a short time.-
dc.format application/en_US
dc.language enen_US
dc.language en-USen_US
dc.language.iso en_US-
dc.relation (關聯) Risk Management and Insurance Review, 11(2), 349-375en_US
dc.title (題名) The Impact of Deregulation and Liberalization on Efficiency: An Analysis of the Life Insurance Industry in Taiwan from 1981-2004en_US
dc.type (資料類型) articleen