The measurement of efficiency in life insurance: estimates of a mixed normal-gamma error model
Article Abstract:
Article presents three contributions to the literature on efficiency in financial services. It makes estimates of a mixed error cost frontier where the variances in normal and gamma distribution can change with firm size. The article examines life insurance scale and product mix by incorporating and measuring X-inefficiency. It compares normal-gamma estimates with thick frontier, weighted least squares and half-normal distributions to illustrate their pitfalls.
Publication Name: Journal of Banking & Finance
Subject: Business
ISSN: 0378-4266
Year: 1993
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X-efficiency in the US life insurance industry
Article Abstract:
Article discusses estimated hybrid translog cost functions for 561 life insurers for the years 1985 to 1990. Efficiency was measured using the cost function residuals. The residuals were then tested to determine if they were related to X-efficiencies due to external and internal monitoring or to factors related to rent-seeking. Results suggest that the inefficiencies may have been related to some internal or external monitoring and rent-seeking factors.
Publication Name: Journal of Banking & Finance
Subject: Business
ISSN: 0378-4266
Year: 1993
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Banking efficiency in the Nordic countries
Article Abstract:
Article discusses an analysis that provides a detailed account of how well banks from different countries and different sizes can prepare for intense competition from a common European banking market. Data Envelopment Analysis is used to provide evidence of the competiveness of the banking industries of three Nordic countries, Findland, Norwary and Sweden. Productivity on the national and the pooled data sets is examined.
Publication Name: Journal of Banking & Finance
Subject: Business
ISSN: 0378-4266
Year: 1993
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