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題名 Conversion and Efficiency Performance Changes: Evidence from the U.S. Property-Liability Insurance Industry
作者 Chen,Lih-Ru ;Gene C. Lai;Jennifer L. Wang
陳麗如;賴志仁;王儷玲
貢獻者 風管系
關鍵詞 demutualization; efficiency; DEA; property-liability insurers
日期 2011-06
上傳時間 11-Mar-2014 17:12:23 (UTC+8)
摘要 This study investigates whether the converting U.S. property-liability insurers improve their efficiency performance before and after the conversion. The evidence shows that converting insurers experience larger gains in cost efficiency scores and total factor productivity change than mutual control insurers before the conversion when the value-added approach is used. On the other hand, converting insurers experience deterioration in cost efficiency scores and total factor productivity change relative to mutual control insurers before the conversion when the financial intermediary approach is used. The two seemly contradictory results may be complementary because the outputs and inputs of the two approaches are different. The empirical evidences of the value-added approach and the financial intermediary approach indicate converting insurers experience improvement in their efficiency relative to mutual control insurers after the conversion. The results are robust with respect to cost efficiency scores and total factor productivity change. These overallresults support the efficiency hypothesis. The regression evidence also shows that converting insurers outperform their mutual control insurers in cost efficiency after conversion using the both approaches.
關聯 The Geneva Risk and Insurance Review, 36, 1-35
資料類型 article
dc.contributor 風管系en_US
dc.creator (作者) Chen,Lih-Ru ;Gene C. Lai;Jennifer L. Wangen_US
dc.creator (作者) 陳麗如;賴志仁;王儷玲zh_TW
dc.date (日期) 2011-06en_US
dc.date.accessioned 11-Mar-2014 17:12:23 (UTC+8)-
dc.date.available 11-Mar-2014 17:12:23 (UTC+8)-
dc.date.issued (上傳時間) 11-Mar-2014 17:12:23 (UTC+8)-
dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/64561-
dc.description.abstract (摘要) This study investigates whether the converting U.S. property-liability insurers improve their efficiency performance before and after the conversion. The evidence shows that converting insurers experience larger gains in cost efficiency scores and total factor productivity change than mutual control insurers before the conversion when the value-added approach is used. On the other hand, converting insurers experience deterioration in cost efficiency scores and total factor productivity change relative to mutual control insurers before the conversion when the financial intermediary approach is used. The two seemly contradictory results may be complementary because the outputs and inputs of the two approaches are different. The empirical evidences of the value-added approach and the financial intermediary approach indicate converting insurers experience improvement in their efficiency relative to mutual control insurers after the conversion. The results are robust with respect to cost efficiency scores and total factor productivity change. These overallresults support the efficiency hypothesis. The regression evidence also shows that converting insurers outperform their mutual control insurers in cost efficiency after conversion using the both approaches.en_US
dc.format.extent 304066 bytes-
dc.format.mimetype application/pdf-
dc.language.iso en_US-
dc.relation (關聯) The Geneva Risk and Insurance Review, 36, 1-35en_US
dc.subject (關鍵詞) demutualization; efficiency; DEA; property-liability insurersen_US
dc.title (題名) Conversion and Efficiency Performance Changes: Evidence from the U.S. Property-Liability Insurance Industryen_US
dc.type (資料類型) articleen