The Korean Journal of Financial Management (재무관리연구)
- Volume 25 Issue 4
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- Pages.183-212
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- 2008
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- 1225-0759(pISSN)
A Study on the Efficiency and Determinants of Static and Dynamic in Korean property casualty insurance Company
국내 손해보험회사의 효율성 및 결정요인에 대한 Static and Dynamic 분석
- Kim, Tae-Hyuk (Department of Business and Administration, Pusan National University) ;
- Park, Chun-Gwang (College of Business Administration, University of Tongmyong) ;
- Kim, Byeong-Chul (Department of Finance and Insurance, Sewon University)
- Published : 2008.12.01
Abstract
The purpose of this paper is to analyze the efficiency change and determinants of the korean non-life insurance companies. we use DEA (Data Envelopment Analysis) model to measure company efficiency change and use GLS, Tobit model, FIixed effect model, Random effect model, GMM to measure efficiency determinants. we utilize ten non-life insurance companies in korea and the panel data for five from 2001 to 2005. The empirical results show the following findings. First, technical efficiency shows that approximately 15.5% of inefficiency exists on the non-life insurance companies and it reveals that the cause for technical inefficiency is due to scale inefficiency. Second, Dea Window results show that the stable dissimilarity by standard deviation, LDP of CCR. Third, the results of efficiency determinants show that increase efficiency is depend on the premium income and real estates.
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