A Luenberger Index for the Greek Life Insurance Industry
نویسندگان
چکیده
This paper uses the Luenberger productivity index to evaluate the productivity changes of Greek Life insurance companies between 1994 and 2003, combining operational and financial variables. It is found that the average annual productivity change was about 19% and was due to technological progress, whereas the impact of efficiency was minimal. It seems that deregulation, established by the Third Insurance Directive in 1994, provoked investments in new technologies which were not matched by superior managerial practices. For comparative purposes, a Malmquist productivity index is estimated.
منابع مشابه
Investigating the Performance of the Banking System in Iran: Multi-Frontier Malmquist-Luenberger Productivity Index Approach
This paper examines the efficiency and productivity of the banking industry in Iran, consideringdifferent ownership system of banks and different definations of bank's output and input. Moreover, in this study, the inclusion of undesirable outputs in the bank's performance is evaluated. The Multi-Frontier Malmquist-Luenberger Productivity Index applied to examine the performance of the bankin...
متن کاملInvestigating the Short-run and Long-run Causal Relationship between the Stock Price Index in Insurance Industry, Banking Sector and Investment Sector
The purpose of this Research is to investigate the causal relationship between the stock price index in the insurance industry, banking sector, and the investment sector during 2009 – 2017 period. So, a long-term relationship between variables was investigated by Johansson-Juselius test. Then, by Vector error correction model (VECM), the causal relation between the variables of the model was...
متن کاملبررسی عوامل تعیین کننده تقاضا برای بیمهی عمر در کشورهای منتخب
Introduction: Life insurance is important to the extent that it is introduced as a valid index in the international survey of evaluating countries’ development level. However, this industry has remained unknown in most of the developing countries and its role is really low in these countries’ economy. The aim of this study is to maintain the impact of macro-economic variables with l...
متن کاملProvide a Model for the Media to Influence the Spread of Life Insurance Culture
Purpose: This study has provided a model for the impact of mass media on the development of insurance culture. The insurance industry has a significant quantitative and qualitative growth and quickly has a high potential for economic growth and prosperity. However, companies They should take advantage of the opportunities available through the mass media to develop a culture of life insurance. ...
متن کاملGreen Productivity in Iran's Thermal Power Plants: The Malmquist-Luenberger Approach
Electricity generation in thermal power plants as the largest producer of electricity in Iran is associated with greenhouse gas emissions. In this paper, using the Malmquist-Luenberger method, green productivity, and efficiency changes are measured for 31 thermal power plants (including 12 steam power plants, 13 gas power plants, and six combined cycle power plants) during 2009-2016. The result...
متن کامل