How to cite this paper
Jarraya, B. (2013). Efficiency concept and investigations in insurance industry: A survey.Management Science Letters , 3(1), 39-54.
Refrences
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Barros, P., Barroso, N., & Borges, M. R. (2005). Evaluating the efficiency and productivity of insurance companies with a Malmquist index: A case study for Portugal. Geneva Papers on Risk and Insurance, 30 (2), 244–267.
Barros, P., & Obijiaku, E. L. (2007). Technical efficiency of Nigerian insurance companies. Department of Economics, Institute for Economics and Business Administration (ISEG), Technical University of Lisbon. Working Papers No. 18.
Berger, A. N., Cummins, J. D., Weiss, M. A., & Zi, H. (2000). Conglomeration versus strategic focus: Evidence from the insurance industry. Journal of Financial Intermediation, 9 (4), 323–362.
Berger, A. N., Bonime S. D., Covitz D. M., & Hancock. D. (2000). Why are bank profits so persistent? The roles of product market competition, informational opacity, and regional/macroeconomic shocks. Journal of Banking and Finance, 24 (7), 1203-1235.
Berger, A. N., Cummins, J. D., & Weiss, M. A. (1997). The coexistence of multiple distribution systems for financial services: The case of property-liability insurance. Journal of Business, 70 (4), 515–546.
Berger, A. N., Cummins, J. D., Weiss, M. A., & Zi, H. (2000). Conglomeration Versus Strategic Focus: Evidence from the Insurance Industry. Journal of Financial Intermediation 9 (4), 323–362.
Berger, A. N., & Mester, L. J. (1997). Inside the black box: What explains differences in the efficiencies of financial institutions? Journal of Banking and Finance, 21, 895–947.
Berger, A.N, Humphrey, D.B., & Pulley, L.B. (1996). Do consumers pay for one-stop banking? Evidence from an alternative revenue function. Journal of Banking and Finance, 20(9), 1601-1621.
Berger. A, & Humphrey. D. (1997). Efficiency of financial institutions: International survey and direction of future research. European Journal of Operational Research, 98, 175–212.
Berger, A. N, Bonime, S. D., Covitz, D. M., & Hancock, D. (2000). Why are bank profits so persistent? The roles of product market competition, informational opacity, and regional/macroeconomic shocks. Journal of Banking and Finance, 24(7), 1203-1235.
Boonyasai, T., Grace, M. F., & Skipper, Jr., H. D. (2002). The effect of liberalization and deregulation on life insurer efficiency. Working Paper No. 02-2, Center for Risk Management and Insurance Research, Georgia State University, Atlanta.
Brockett, P. L., Cooper, W. W., Golden, L. L., Rousseau, J. J., & Wang, Y. (1998). DEA evaluations of the efficiency of organizational forms and distribution systems in the US property and liability insurance industry. International Journal of Systems Science, 29 (11), 1235–1247.
Brockett, P. L., Cooper, W. W., Golden, L. L., Rousseau, J. J., & Wang, Y. (2004). Evaluating solvency versus efficiency performance and different forms of organization and marketing in US property-liability insurance companies. European Journal of Operational Research, 154 (2), 492–514.
Carr, R. M., Cummins, J. D., & Regan, L. (1999). Efficiency and competitiveness in the US life insurance industry: Corporate, product, and distribution strategies. In: Cummins, J. D., Santomero, A. M., eds., Changes in the Life Insurance Industry: Efficiency, Technology and Risk Management. Kluwer Academic Publishers, Boston, MA.
Casu. B., & Molyneux, P. (2003). A comparative study of efficiency in European banking. United Kingdom: University of Wales.
Chaffai, M. E., & Ouertani, M. N. (2002). Technical efficiency in the Tunisian insurance industry: A comparison of parametric and non parametric time variant models. Working Paper, Research Unit on Production Econometrics, Sfax University, Sfax.
Chaffai, M. E., & Ouertani, M. N. (2002). Technical efficiency in the Tunisian insurance industry: A comparison of parametric and non parametric time variant models. Working Paper, Research Unit on Production Econometrics, Sfax University, Sfax.
Chambers, R. G, Chung, Yangho, F?re, Rolf (1996). Benefit and Distance Functions. Journal of Economic Theory. Vol. 70 (2). pp. 407-19. August 1996.
Chambers, Robert G, Chung, Yangho, F?re, Rolf (1998a), “Profit, Directional Distance Functions, and Nerlovian Efficiency," Journal of Optimization Theory and Applications, Volume 98, No. 2, 351-364, August, 1998.
Charnes, A., Cooper, W. W., Rhodes, E., 1978. Measuring the Efficiency of Decision Making Units. European Journal of Operational Research 2 (6), 429–444.
Choi, P. B., Weiss, M. A., 2005. An Empirical Investigation of Market Structure, Efficiency, and Performance in Property-Liability Insurance. Journal of Risk and Insurance 72 (4), 635–673.
Choi, P. B., Weiss, M. A., 2005. An Empirical Investigation of Market Structure, Efficiency, and Performance in Property-Liability Insurance. Journal of Risk and In-surance 72 (4), 635–673.
Choi, P. B., Weiss, M. A., 2008. State regulation and the structure, conduct, efficiency and performance of US auto insurers. Journal of Banking and Finance 32 (2008), 134–156.
Choi, P. B., Weiss, M. A., 2008. State regulation and the structure, conduct, efficiency and performance of US auto insurers. Journal of Banking and Finance 32 (2008), 134–156.
Choi, P. B., Weiss, M. A., 2008. State regulation and the structure, conduct, efficiency and performance of US auto insurers. Journal of Banking and Finance 32 (2008), 134–156.
Chung, Y., F?re, R., Grosskopf, S., 1997. Productivity and undesirable outputs: a directional distance function approach. Journal of Environmental Management 51, 229–240.
Cummins, J. D., M. A. Weiss, and H. Zi,2003, Economies of Scope in Financial Services: A Dea Bootstrapping Analysis of the U.S. Insurance Industry, Working Paper, Wharton financial Institutions Center.
Cummins, J. D., Weiss, M. A., & Zi, H. (2007). Economics of scope in financial services: A DEA bootstrapping analysis of the US insurance industry. Working Paper, the Wharton School, Philadelphia, PA.
Cummins, J. David, and Mary A. Weiss, 2000. Analyzing Firm Performance in the Insurance Industry Using Frontier Efficiency and Productivity methods, in Georges Dionne, ed.: Handbook of Insurance (Norwell, MA: Kluwer Academic Publishers).
Cummins, J. D., Nini, G. P., 2002. Optimal Capital Utilization by Financial Firms: Evidence from the Property-Liability Insurance Industry. Journal of Financial Services Research 21 (1–2), 15–53.
Cummins, J. D., Weiss, M. A., 2000. Analyzing Firm Performance in the Insurance Industry Using Frontier Efficiency Methods. In: Dionne, G., ed., Handbook of Insurance Economics. Kluwer Academic Publishers, Boston, MA.
Cummins, J. D., & Weiss, M. A. (2000). Analyzing ?rm performance in the insurance industry using frontier efficiency and productivity methods. In: Dionne, Georges (Ed.), Handbook of Insurance. Kluwer Academic Publishers, Norwell, MA.
Cummins, J. D., & Xie, X. (2008). Mergers and acquisitions in the US property-liability insurance industry: Productivity and efficiency effects. Journal of Banking and Finance, 32 (1), 30–55.
Cummins, J. D., 1999. Efficiency in the US Life Insurance Industry: Are Insurers Mi-nimizing Costs and Maximizing Revenues? In: Cummins, J. D., Santomero, A. M., eds., Changes in the Life Insurance Industry: Efficiency, Technology and Risk Management. Kluwer Academic Publishers, Boston, MA.
Cummins, J. D., 1999. Efficiency in the US Life Insurance Industry: Are Insurers Minimizing Costs and Maximizing Revenues? In: Cummins, J. D., Santomero, A. M., eds., Changes in the Life Insurance Industry: Efficiency, Technology and Risk Management. Kluwer Academic Publishers, Boston, MA.
Cummins, J. D., Dionne, G., Gagné, R., Nouira, A., 2006. Efficiency of Insurance Firms with Endogenous Risk Management and Financial Intermediation Activities. Working Paper.
Cummins, J. D., Nini, G. P., 2002. Optimal Capital Utilization by Financial Firms: Evidence from the Property-Liability Insurance Industry. Journal of Financial Ser-vices Research 21 (1–2), 15–53.
Cummins, J. D., Rubio-Misas, M., Zi, H., 2004. The Effect of Organizational Structure on Efficiency: Evidence from the Spanish Insurance Industry. Journal of Banking and Finance 28 (12), 3113–3150.
Cummins, J. D., Tennyson, S., & Weiss, M. A. (1999). Consolidation and efficiency in the US life insurance industry. Journal of Banking and Finance, 23 (2–4), 325–357.
Cummins, J. D., Turchetti, G., & Weiss, M. A. (1996). Productivity and technical efficiency Italian insurance industry. Working Paper, Wharton Financial Institutions Center, University of Pennsylvania, PA.
Cummins, J. D., & Weiss, M. A. (1993). Measuring cost efficiency in the property-liability insurance industry. Journal of Banking and Finance, 17(2–3), 463–481.
Cummins, J. D., & Weiss, M. A. (2000). Analyzing Firm Performance in the Insurance Industry Using Frontier Efficiency Methods. In: Dionne, G., ed., Handbook of Insurance Economics. Kluwer Academic Publishers, Boston, MA.
Cummins, J. D., Weiss, M. A., & Zi, H. (1999). Organizational form and efficiency: The coexistence of stock and mutual property-liability insurers. Management Science, 45 (9), 1254–1269.
Cummins, J. D., & Xie, X. (2008). Mergers and acquisitions in the US property-liability insurance industry: Productivity and efficiency effects. Journal of Banking and Finance, 32 (1), 30–55.
Cummins, J. D., & Zi, H. (1998). Comparison of frontier efficiency methods: An application to the US life insurance industry. Journal of Productivity Analysis, 10(2), 131–152.
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Berger, A. N., Cummins, J. D., Weiss, M. A., & Zi, H. (2000). Conglomeration versus strategic focus: Evidence from the insurance industry. Journal of Financial Intermediation, 9 (4), 323–362.
Berger, A. N., Bonime S. D., Covitz D. M., & Hancock. D. (2000). Why are bank profits so persistent? The roles of product market competition, informational opacity, and regional/macroeconomic shocks. Journal of Banking and Finance, 24 (7), 1203-1235.
Berger, A. N., Cummins, J. D., & Weiss, M. A. (1997). The coexistence of multiple distribution systems for financial services: The case of property-liability insurance. Journal of Business, 70 (4), 515–546.
Berger, A. N., Cummins, J. D., Weiss, M. A., & Zi, H. (2000). Conglomeration Versus Strategic Focus: Evidence from the Insurance Industry. Journal of Financial Intermediation 9 (4), 323–362.
Berger, A. N., & Mester, L. J. (1997). Inside the black box: What explains differences in the efficiencies of financial institutions? Journal of Banking and Finance, 21, 895–947.
Berger, A.N, Humphrey, D.B., & Pulley, L.B. (1996). Do consumers pay for one-stop banking? Evidence from an alternative revenue function. Journal of Banking and Finance, 20(9), 1601-1621.
Berger. A, & Humphrey. D. (1997). Efficiency of financial institutions: International survey and direction of future research. European Journal of Operational Research, 98, 175–212.
Berger, A. N, Bonime, S. D., Covitz, D. M., & Hancock, D. (2000). Why are bank profits so persistent? The roles of product market competition, informational opacity, and regional/macroeconomic shocks. Journal of Banking and Finance, 24(7), 1203-1235.
Boonyasai, T., Grace, M. F., & Skipper, Jr., H. D. (2002). The effect of liberalization and deregulation on life insurer efficiency. Working Paper No. 02-2, Center for Risk Management and Insurance Research, Georgia State University, Atlanta.
Brockett, P. L., Cooper, W. W., Golden, L. L., Rousseau, J. J., & Wang, Y. (1998). DEA evaluations of the efficiency of organizational forms and distribution systems in the US property and liability insurance industry. International Journal of Systems Science, 29 (11), 1235–1247.
Brockett, P. L., Cooper, W. W., Golden, L. L., Rousseau, J. J., & Wang, Y. (2004). Evaluating solvency versus efficiency performance and different forms of organization and marketing in US property-liability insurance companies. European Journal of Operational Research, 154 (2), 492–514.
Carr, R. M., Cummins, J. D., & Regan, L. (1999). Efficiency and competitiveness in the US life insurance industry: Corporate, product, and distribution strategies. In: Cummins, J. D., Santomero, A. M., eds., Changes in the Life Insurance Industry: Efficiency, Technology and Risk Management. Kluwer Academic Publishers, Boston, MA.
Casu. B., & Molyneux, P. (2003). A comparative study of efficiency in European banking. United Kingdom: University of Wales.
Chaffai, M. E., & Ouertani, M. N. (2002). Technical efficiency in the Tunisian insurance industry: A comparison of parametric and non parametric time variant models. Working Paper, Research Unit on Production Econometrics, Sfax University, Sfax.
Chaffai, M. E., & Ouertani, M. N. (2002). Technical efficiency in the Tunisian insurance industry: A comparison of parametric and non parametric time variant models. Working Paper, Research Unit on Production Econometrics, Sfax University, Sfax.
Chambers, R. G, Chung, Yangho, F?re, Rolf (1996). Benefit and Distance Functions. Journal of Economic Theory. Vol. 70 (2). pp. 407-19. August 1996.
Chambers, Robert G, Chung, Yangho, F?re, Rolf (1998a), “Profit, Directional Distance Functions, and Nerlovian Efficiency," Journal of Optimization Theory and Applications, Volume 98, No. 2, 351-364, August, 1998.
Charnes, A., Cooper, W. W., Rhodes, E., 1978. Measuring the Efficiency of Decision Making Units. European Journal of Operational Research 2 (6), 429–444.
Choi, P. B., Weiss, M. A., 2005. An Empirical Investigation of Market Structure, Efficiency, and Performance in Property-Liability Insurance. Journal of Risk and Insurance 72 (4), 635–673.
Choi, P. B., Weiss, M. A., 2005. An Empirical Investigation of Market Structure, Efficiency, and Performance in Property-Liability Insurance. Journal of Risk and In-surance 72 (4), 635–673.
Choi, P. B., Weiss, M. A., 2008. State regulation and the structure, conduct, efficiency and performance of US auto insurers. Journal of Banking and Finance 32 (2008), 134–156.
Choi, P. B., Weiss, M. A., 2008. State regulation and the structure, conduct, efficiency and performance of US auto insurers. Journal of Banking and Finance 32 (2008), 134–156.
Choi, P. B., Weiss, M. A., 2008. State regulation and the structure, conduct, efficiency and performance of US auto insurers. Journal of Banking and Finance 32 (2008), 134–156.
Chung, Y., F?re, R., Grosskopf, S., 1997. Productivity and undesirable outputs: a directional distance function approach. Journal of Environmental Management 51, 229–240.
Cummins, J. D., M. A. Weiss, and H. Zi,2003, Economies of Scope in Financial Services: A Dea Bootstrapping Analysis of the U.S. Insurance Industry, Working Paper, Wharton financial Institutions Center.
Cummins, J. D., Weiss, M. A., & Zi, H. (2007). Economics of scope in financial services: A DEA bootstrapping analysis of the US insurance industry. Working Paper, the Wharton School, Philadelphia, PA.
Cummins, J. David, and Mary A. Weiss, 2000. Analyzing Firm Performance in the Insurance Industry Using Frontier Efficiency and Productivity methods, in Georges Dionne, ed.: Handbook of Insurance (Norwell, MA: Kluwer Academic Publishers).
Cummins, J. D., Nini, G. P., 2002. Optimal Capital Utilization by Financial Firms: Evidence from the Property-Liability Insurance Industry. Journal of Financial Services Research 21 (1–2), 15–53.
Cummins, J. D., Weiss, M. A., 2000. Analyzing Firm Performance in the Insurance Industry Using Frontier Efficiency Methods. In: Dionne, G., ed., Handbook of Insurance Economics. Kluwer Academic Publishers, Boston, MA.
Cummins, J. D., & Weiss, M. A. (2000). Analyzing ?rm performance in the insurance industry using frontier efficiency and productivity methods. In: Dionne, Georges (Ed.), Handbook of Insurance. Kluwer Academic Publishers, Norwell, MA.
Cummins, J. D., & Xie, X. (2008). Mergers and acquisitions in the US property-liability insurance industry: Productivity and efficiency effects. Journal of Banking and Finance, 32 (1), 30–55.
Cummins, J. D., 1999. Efficiency in the US Life Insurance Industry: Are Insurers Mi-nimizing Costs and Maximizing Revenues? In: Cummins, J. D., Santomero, A. M., eds., Changes in the Life Insurance Industry: Efficiency, Technology and Risk Management. Kluwer Academic Publishers, Boston, MA.
Cummins, J. D., 1999. Efficiency in the US Life Insurance Industry: Are Insurers Minimizing Costs and Maximizing Revenues? In: Cummins, J. D., Santomero, A. M., eds., Changes in the Life Insurance Industry: Efficiency, Technology and Risk Management. Kluwer Academic Publishers, Boston, MA.
Cummins, J. D., Dionne, G., Gagné, R., Nouira, A., 2006. Efficiency of Insurance Firms with Endogenous Risk Management and Financial Intermediation Activities. Working Paper.
Cummins, J. D., Nini, G. P., 2002. Optimal Capital Utilization by Financial Firms: Evidence from the Property-Liability Insurance Industry. Journal of Financial Ser-vices Research 21 (1–2), 15–53.
Cummins, J. D., Rubio-Misas, M., Zi, H., 2004. The Effect of Organizational Structure on Efficiency: Evidence from the Spanish Insurance Industry. Journal of Banking and Finance 28 (12), 3113–3150.
Cummins, J. D., Tennyson, S., & Weiss, M. A. (1999). Consolidation and efficiency in the US life insurance industry. Journal of Banking and Finance, 23 (2–4), 325–357.
Cummins, J. D., Turchetti, G., & Weiss, M. A. (1996). Productivity and technical efficiency Italian insurance industry. Working Paper, Wharton Financial Institutions Center, University of Pennsylvania, PA.
Cummins, J. D., & Weiss, M. A. (1993). Measuring cost efficiency in the property-liability insurance industry. Journal of Banking and Finance, 17(2–3), 463–481.
Cummins, J. D., & Weiss, M. A. (2000). Analyzing Firm Performance in the Insurance Industry Using Frontier Efficiency Methods. In: Dionne, G., ed., Handbook of Insurance Economics. Kluwer Academic Publishers, Boston, MA.
Cummins, J. D., Weiss, M. A., & Zi, H. (1999). Organizational form and efficiency: The coexistence of stock and mutual property-liability insurers. Management Science, 45 (9), 1254–1269.
Cummins, J. D., & Xie, X. (2008). Mergers and acquisitions in the US property-liability insurance industry: Productivity and efficiency effects. Journal of Banking and Finance, 32 (1), 30–55.
Cummins, J. D., & Zi, H. (1998). Comparison of frontier efficiency methods: An application to the US life insurance industry. Journal of Productivity Analysis, 10(2), 131–152.
Debreu, G. (1951). The coefficient of resource utilization. Econometrica, 19, 273-292.
Deprins, D., Simar, L., & Tulkens, H. (1984). Measuring labor-efficiency in post offices, The performance of public enterprises: concepts and measurement. Amsterdam: North Holland.
DeYoung. R., & Nolle, D. E. (1996). Foreign-owned banks in the United States: Earning market share or buying it?. Journal of Money, Credit and Banking, 28(4), Part 1: 622-636.
Diacon, S. R., Starkey, K., & O’Brien, C. (2002). Size and efficiency in European long-term insurance companies: An international comparison. Geneva Papers on Risk and Insurance, 27 (3), 444–466.
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