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Data Envelopment Analysis with Missing Data: An Application to Life Insurance Industry in Taiwan

Author

Listed:
  • Yao-Hung Yang

    (Department of Business Administration, Vanung University, Taiwan)

  • Yao-Hung Yang

    (Department of Business Administration, Chung Yuan Christian University, Taiwan)

Abstract

A fuzzy Data Envelopment Analysis model is adopted in this paper to assess the operational efficiency of life insurance companies in Taiwan. The study was conducted from 2008 to 2012 and the data were taken from Taiwan Economic Journal and related financial statements provided by the Taiwan Insurance Institute. The results indicate that the operational efficiency of insurance companies affiliated to financial holding companies appears to be better than that of insurance companies not affiliated with financial holding companies, signifying that the synergy generated after a financial holding company is formed and the cross-selling between its subsidiary groups are highly beneficial to the management of a life insurance company affiliated to such a financial holding company. The chief contribution of this paper is that, in the past, the data envelopment analysis models applied often could not calculate due to missing input and output data. The study adopts the fuzzy linear mathematics to solve the uncertainty.

Suggested Citation

  • Yao-Hung Yang & Yao-Hung Yang, 2014. "Data Envelopment Analysis with Missing Data: An Application to Life Insurance Industry in Taiwan," Journal of Economic and Financial Studies (JEFS), LAR Center Press, vol. 2(6), pages 43-52, December.
    • Handle: RePEc:lrc:lareco:v:2:y:2014:i:6:p:43-52
    DOI: http://dx.doi.org/10.18533/jefs.v2i04.86
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    More about this item

    Keywords

    Financial holding company; Fuzzy data envelopment analysis model; Life insurance; Operational efficiency.;
    All these keywords.

    JEL classification:

    • C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General
    • G2 - Financial Economics - - Financial Institutions and Services
    • M2 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics

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