Investment efficiency of life insurance companies in Germany: application of a two-stage SBM
Journal Title: Współczesna Gospodarka - Year 2019, Vol 10, Issue 1
Abstract
Purpose – To prove the robustness of the efficiency-measuring model against potentially system-relevant disturbances to company variables such as SIZE, ROA, solvency and organizational form. Methodology – In the first stage, the established model is applied using the SBM to measure insurance efficiency. The underlying data sets are from the twenty biggest life insurance companies (2008-2017) in Germany. In the second stage, the established model is examined for its robustness against disturbance variables. Several disturbance variables are introduced individually to the system and examined for their influence by three econometric methods, Tobit regression, OLS and the fixed-effect model. This approach allows a comparative analysis of the results with respect to the systemic relevance of every added variable. In the end, the accuracy of the second stage is compared through the Spearman test. Findings – The comparative analysis of all three econometric techniques brought ROA as an efficiency-influencing variable. Furthermore, both proved econometric models Tobit and OLS are SBM-suitable with cross-sectional data. Further evidence for SBM compatibility are found for Tobit and the fixed-effect model with panel data.
Authors and Affiliations
Thomas Krupa, Kirils Farbarzevics, Bassam Salame
Keywords
Related Articles
- EP ID EP603437
- DOI 10.26881/wg.2019.1.08
- Views 55
- Downloads 0
Analiza zjawiska tunelowania spółek na polskim rynku kapitałowym
W artykule został poruszony problem tunelowania spółek. Tunelowanie spółek to szeroko rozumiany konflikt akcjonariuszy dominujących i mniejszościowych. Zapewnienie ochrony interesów akcjonariuszy mniejszościowych nadal j...
Influence of knowledge workers on the process of creating of innovative services in enterprises from the Baltic Sea Region
In the 21st century systematic processes should be a basic task of contemporary enterprises aiming at raising the competitive edge on the global market. It is effect of functioning in the era of the forming oneself of th...
Machine learning for the self-organization of distributed systems in economic applications
In this paper, an application of machine learning to the problem of self-organization of distributed systems has been discussed with regard to economic applications, with particular emphasis on supervised neural network...
Forward guidance as a tool of the European Central Bank’s monetary policy
The purpose of this article is to take a closer look at one of the most unconventional instruments of monetary policy which is the Forward Guidance. This instrument is increasingly more often adopted by central banks. Wh...
Przestrzenno – czasowa analiza nasilenia wypadków drogowych w Polsce
W artykule dokonano identyfikacji skupień powiatów charakteryzujących się ponadprzeciętną liczbą i natężeniem wypadków drogowych oraz podjęto próbę prognozowania dziennej liczby wypadków drogowych w Polsce z wykorzystani...