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Technical Efficiency of Nigerian Insurance Companies

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Author Info

  • Carlos Pestana Barros
  • Echika Lemechi Obijiaku

Abstract

This paper uses data envelopment analysis (DEA) to evaluate the performance of Nigerian insurance companies, from 2001 to 2005, combining operational and financial variables. The paper also analyses the situations of these companies in relation to the frontier of best practices. In addition, it tests for the roles played by dimension, bank network and market share in the efficiency of the Nigerian insurance companies. The implications of this research for managerial purposes are then drawn.

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File URL: http://pascal.iseg.utl.pt/~depeco/wp/wp182007.pdf
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Bibliographic Info

Paper provided by Department of Economics at the School of Economics and Management (ISEG), Technical University of Lisbon. in its series Working Papers with number 2007/18.

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Length:
Date of creation: 2007
Date of revision:
Handle: RePEc:ise:isegwp:wp182007

Contact details of provider:
Postal: Department of Economics, School of Economics and Management (ISEG), Technical University of Lisbon, Rua do Quelhas 6, 1200-781 LISBON, PORTUGAL
Web page: https://aquila.iseg.utl.pt/aquila/departamentos/EC

Related research

Keywords: Nigerian insurance companies; Data Envelopment Analysis; Efficiency.;

This paper has been announced in the following NEP Reports:

References

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  1. Patrick L. Brockett & Ray E. Chang & John J. Rousseau & John H. Semple & Chuanhou Yang, 2004. "A Comparison of HMO Efficiencies as a Function of Provider Autonomy," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 71(1), pages 1-19.
  2. S R Diacon & K Starkey & C O'Brien, 2002. "Size and Efficiency in European Long–term Insurance Companies: An International Comparison," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan, vol. 27(3), pages 444-466, July.
  3. R. D. Banker & A. Charnes & W. W. Cooper, 1984. "Some Models for Estimating Technical and Scale Inefficiencies in Data Envelopment Analysis," Management Science, INFORMS, vol. 30(9), pages 1078-1092, September.
  4. Thompson, Russell G. & Langemeier, Larry N. & Lee, Chih-Tah & Lee, Euntaik & Thrall, Robert M., 1990. "The role of multiplier bounds in efficiency analysis with application to Kansas farming," Journal of Econometrics, Elsevier, vol. 46(1-2), pages 93-108.
  5. Golany, B & Roll, Y, 1989. "An application procedure for DEA," Omega, Elsevier, vol. 17(3), pages 237-250.
  6. J. David Cummins & Giuseppe Turchetti, 1996. "Productivity and Technical Efficiency in the Italian Insurance Industry," Center for Financial Institutions Working Papers 96-10, Wharton School Center for Financial Institutions, University of Pennsylvania.
  7. Charnes, A. & Cooper, W. W. & Rhodes, E., 1978. "Measuring the efficiency of decision making units," European Journal of Operational Research, Elsevier, vol. 2(6), pages 429-444, November.
  8. Bernhard Mahlberg & Thomas Url, . "Effects of the Single Market on the Austrian Insurance Industry," WIFO Working Papers 97, WIFO.
  9. Cummins, J. David & Weiss, Mary A., 1993. "Measuring cost efficiency in the property-liability insurance industry," Journal of Banking & Finance, Elsevier, vol. 17(2-3), pages 463-481, April.
  10. Karl C. Ennsfellner & Danielle Lewis & Randy I. Anderson, 2004. "Production Efficiency in the Austrian Insurance Industry: A Bayesian Examination," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 71(1), pages 135-159.
  11. Fecher, F. & Kessler, D. & Perelman, S. & Pestieau, P., 1991. "Productive performance of the french insurance industry," CORE Discussion Papers 1991025, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  12. Grosskopf, S. & Valdmanis, V., 1987. "Measuring hospital performance : A non-parametric approach," Journal of Health Economics, Elsevier, vol. 6(2), pages 89-107, June.
  13. Coelli, Tim & Perelman, Sergio, 1999. "A comparison of parametric and non-parametric distance functions: With application to European railways," European Journal of Operational Research, Elsevier, vol. 117(2), pages 326-339, September.
  14. Gardner, Lisa A. & Grace, Martin F., 1993. "X-Efficiency in the US life insurance industry," Journal of Banking & Finance, Elsevier, vol. 17(2-3), pages 497-510, April.
  15. Charnes, A. & Cooper, W. W. & Huang, Z. M. & Sun, D. B., 1990. "Polyhedral Cone-Ratio DEA Models with an illustrative application to large commercial banks," Journal of Econometrics, Elsevier, vol. 46(1-2), pages 73-91.
  16. J. David Cummins & Hongmin Zi, 1997. "Comparison of Frontier Efficiency Methods: An Application to the U.S. Life Insurance Industry," Center for Financial Institutions Working Papers 97-03, Wharton School Center for Financial Institutions, University of Pennsylvania.
  17. J. David Cummins & Mary A. Weiss & Hongmin Zi, 1999. "Organizational Form and Efficiency: The Coexistence of Stock and Mutual Property-Liability Insurers," Management Science, INFORMS, vol. 45(9), pages 1254-1269, September.
  18. Kumbhakar, Subal C, 1987. "Production Frontiers and Panel Data: An Application to U.S. Class 1 Railroads," Journal of Business & Economic Statistics, American Statistical Association, vol. 5(2), pages 249-55, April.
  19. Luis Orea & Subal C. Kumbhakar, 2004. "Efficiency measurement using a latent class stochastic frontier model," Empirical Economics, Springer, vol. 29(1), pages 169-183, January.
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Cited by:
  1. Norashikin Ismail & Prof. Dr. Datuk Syed Othman Alhabshi & Prof. Obiyathulla Bacha, 2011. "Organizational Form And Efficiency: The Coexistence Of Family Takaful And Life Insurance In Malaysia," Journal of Global Business and Economics, Global Research Agency, vol. 3(1), pages 122-137, July.

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