科研之友
微信
新浪微博
Facebook
分享链接
摘要
We analyze the efficiency of non-life insurance companies in four of the fastest-growing markets in the world-the BRIC (Brazil, Russia, India, China) countries. An innovative feature of this paper is its incorporation of uncontrollable variables in the efficiency analysis using multi-stage data envelopment analysis (DEA). This approach captures cross-country differences, such as the political and economic environment, and allows distinguishing between managerial inefficiency and inefficiency due to environmental conditions. We find that the environment affects the efficiency of non-life insurers operating in the BRIC countries. Furthermore, in a regression of firm characteristics on efficiency scores we identify four drives of efficiency: Size, profitability, solvency, and ownership form. The results further our understanding of the insurance industry in the BRIC countries in regard to its efficiency and the environment in which it operates.
- 出版日期2013-5-1
- 单位对外经济贸易大学
