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題名 Determinants of United Kingdom General Insurance Company Performance
作者 許永明
Shiu, Yung-Ming
貢獻者 風管系
日期 2004-12
上傳時間 22-Jan-2015 16:13:14 (UTC+8)
摘要 Dynamic financial analysis has become one of the important tools that actuaries use to model the underwriting and investment operations of insurance companies. The first step in carrying out the analysis is to investigate the most important factors affecting company performance. This paper identifies the determinants of the performance of United Kingdom general insurance companies using a panel data set consisting of economic data and Financial Services Authority/Department of Trade and Industry returns over the period 1986 to 1999. Three performance measures are used to capture different aspects of insurance operations. These measures are related to a number of economic and firm specific variables, chosen on the basis of relevant theory and literature. An ordinary least squares regression model and two panel data models are estimated for each of three performance measures. This paper also addresses several important econometric problems that are usually ignored in applied work in the context of panel data analysis. Based on the empirical results, this study finds that liquidity, unexpected inflation, interest rate level and underwriting profits are statistically significant determinants of the performance of U.K. general insurers.
關聯 British Actuarial Journal,10(5),1079-1110.
資料類型 article
DOI http://dx.doi.org/10.1017/S1357321700002968
dc.contributor 風管系
dc.creator (作者) 許永明zh_TW
dc.creator (作者) Shiu, Yung-Ming
dc.date (日期) 2004-12
dc.date.accessioned 22-Jan-2015 16:13:14 (UTC+8)-
dc.date.available 22-Jan-2015 16:13:14 (UTC+8)-
dc.date.issued (上傳時間) 22-Jan-2015 16:13:14 (UTC+8)-
dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/73118-
dc.description.abstract (摘要) Dynamic financial analysis has become one of the important tools that actuaries use to model the underwriting and investment operations of insurance companies. The first step in carrying out the analysis is to investigate the most important factors affecting company performance. This paper identifies the determinants of the performance of United Kingdom general insurance companies using a panel data set consisting of economic data and Financial Services Authority/Department of Trade and Industry returns over the period 1986 to 1999. Three performance measures are used to capture different aspects of insurance operations. These measures are related to a number of economic and firm specific variables, chosen on the basis of relevant theory and literature. An ordinary least squares regression model and two panel data models are estimated for each of three performance measures. This paper also addresses several important econometric problems that are usually ignored in applied work in the context of panel data analysis. Based on the empirical results, this study finds that liquidity, unexpected inflation, interest rate level and underwriting profits are statistically significant determinants of the performance of U.K. general insurers.
dc.format.extent 185 bytes-
dc.format.mimetype text/html-
dc.relation (關聯) British Actuarial Journal,10(5),1079-1110.
dc.title (題名) Determinants of United Kingdom General Insurance Company Performance
dc.type (資料類型) articleen
dc.identifier.doi (DOI) 10.1017/S1357321700002968en_US
dc.doi.uri (DOI) http://dx.doi.org/10.1017/S1357321700002968 en_US