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Does Corporate Governance and Ownership Structure Influence Performance? Evidence from Taiwan Life Insurance Companies

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  • Li-Ying Huang
  • Tzy-yih Hsiao
  • Gene C. Lai

Abstract

This study examines the relation between corporate governance and performance and the relation between ownership structure and performance in the Taiwanese life insurance industry. We use the value-added approach of data envelopment analysis (DEA) to measure performance. For our first performance measure, which uses premium income as the output variable, we find evidence that proportion of management shareholding, family-controlled insurers, foreign branch insurers, and insurer age are generally significantly positive related to technical efficiency. The relation between the above variables and allocative efficiency and cost efficiency is similar, but very weak. For our second performance measure, which uses claim benefit as output variables of the value-added approach, the results are similar but weaker. The two most consistent variables that have a positive impact on efficiency are family controlled insurer and insurer age.

Suggested Citation

  • Li-Ying Huang & Tzy-yih Hsiao & Gene C. Lai, 2007. "Does Corporate Governance and Ownership Structure Influence Performance? Evidence from Taiwan Life Insurance Companies," Journal of Insurance Issues, Western Risk and Insurance Association, vol. 30(2), pages 123-151.
  • Handle: RePEc:wri:journl:v:30:y:2007:i:2:p:123-151
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    Cited by:

    1. Hu, Jin-Li & Yu, Hsueh-E, 2014. "Risk management in life insurance companies: Evidence from Taiwan," The North American Journal of Economics and Finance, Elsevier, vol. 29(C), pages 185-199.
    2. Ender BAYKUT & Fatih ECER & Ismail KARA, 2016. "A DEA-MALMQUIST Index Application to Analyze Inefficiency Reasons of BIST Corporate Governance Index Companies," Economics and Applied Informatics, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, issue 1, pages 14-24.
    3. He, Yan & Chiu, Yung-ho & Zhang, Bin, 2015. "The impact of corporate governance on state-owned and non-state-owned firms efficiency in China," The North American Journal of Economics and Finance, Elsevier, vol. 33(C), pages 252-277.

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