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A Translog Analysis Of Insurance Economies In Nigeria

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Author Info

  • Usman OWOLABI A

    (Department of Management Science, Ladoke Akintola University of Technology, Ogbomoso, Nigeria)

  • AKINLO A. E

    ()
    (Department of Economics, Obafemi Awolowo University, Ile-Ife, Nigeria.)

Abstract

Recapitalization process that has recently become an imperative process in the Nigerian Financial industry has implications for the survival of insurance sector, especially on their service delivery efficiency. This study therefore seeks to investigate the problem of inefficiency in the Nigerian Insurance market from the perspective of their cost structures. The study takes advantage of secondary data of financial reports of thirty randomly selected insurance firms which span over a period of ten years and applied transcendental logarithm model to evaluate their performance from the cost structures strategy. The results indicate that only large scale firms enjoy cost saving advantages. Twenty percent firms sampled belong to this category. The result suggests that premium income would contribute to insurance firm’s performance, only when a sound investment decisions are made.

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Bibliographic Info

Paper provided by Faculty of Economic Cybernetics, Statistics and Informatics, Academy of Economic Studies and National Defence University "Carol I", Department for Management of the Defence Resources and Education in its series Proceedings of the 5th International Conference on Knowledge Management: Projects, Systems and Technologies,Bucharest, November 12-13 2010 with number 35.

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Length: 10 pages
Date of creation: Aug 2010
Date of revision:
Handle: RePEc:rom:km2010:35

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Keywords: Transcedental Logarithm; Cost Structures; Insurance firms and Efficiency;

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  1. Becker, Edmund R & Sloan, Frank A, 1985. "Hospital Ownership and Performance," Economic Inquiry, Western Economic Association International, vol. 23(1), pages 21-36, January.
  2. Bays, Carson W, 1980. "Specification Error in the Estimation of Hospital Cost Functions," The Review of Economics and Statistics, MIT Press, vol. 62(2), pages 302-05, May.
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