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Corporate governance and efficiency performance in China’s life insurance industry: a configuration analysis based on DEA-fsQCA

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  • Yi Xie

    (University of Malaya
    Suzhou Institute of Technology, Jiangsu University of Science and Technology)

  • Rozaimah Zainudin

    (University of Malaya)

  • Nurul Shahnaz Mahdzan

    (University of Malaya)

Abstract

While China has emerged as a leading Asian insurance market, research on improving operational efficiency (OE) in its insurance sector remains limited. This study employs two-stage network data envelopment analysis (DEA) to measure efficiency across 81 Chinese life insurers (2011–2020), identifying improvement pathways through necessary condition analysis (NCA) and fuzzy-set qualitative comparative analysis (fsQCA). Our findings reveal improving but suboptimal OE, with state-owned enterprises showing higher performance in premium acquisition but lower performance in distribution efficiency than non-SOEs. We identify four high-efficiency configurational paths, with firm age consistently appearing as a necessary condition. Results reveal that state-owned life insurers require comprehensive governance arrangements, while non-state insurers can achieve efficiency through multiple pathways, with firm age emerging as a necessary condition across all high-efficiency configurations. This study advances the understanding of efficiency determinants in emerging insurance markets through its configuration analysis.

Suggested Citation

  • Yi Xie & Rozaimah Zainudin & Nurul Shahnaz Mahdzan, 2025. "Corporate governance and efficiency performance in China’s life insurance industry: a configuration analysis based on DEA-fsQCA," Future Business Journal, Springer, vol. 11(1), pages 1-13, December.
    • Handle: RePEc:spr:futbus:v:11:y:2025:i:1:d:10.1186_s43093-025-00555-1
    DOI: 10.1186/s43093-025-00555-1
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