Stakeholders’ Satisfaction and Performance of Insurance Firms in Nigeria
Journal Title: IOSR Journal of Economics and Finance (IOSR-JEF) - Year 2018, Vol 9, Issue 6
Abstract
This study examines how support for the interest of three key stakeholders – customers, employee and government - affects the performance of firms in the insurance industry. The study is operationalized using claims expenses as measure for customer satisfaction, wage per employee to measure employee satisfaction, tax payment to measure support for government interest, and net premium income as measure of firm performance. The study performed multivariate regression analysis to test whether stakeholders’ satisfaction affects firm performance, using audited financial statement data of quoted 26 insurance firms from 2012 to 2016. Results indicate that customer satisfaction and employee satisfaction are significantly associated with firm performance, while support for government interests is not statistically associated with firm performance. Management of insurance firms should uphold support for employee and customer interests, while regulatory authorities should strengthen mechanisms for prompt validation and settlement of insurance claims.
Authors and Affiliations
Gospel J. Chukwu, Benson Pyagbara Timah
Keywords
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- EP ID EP429975
- DOI 10.9790/5933-0906030613.
- Views 188
- Downloads 0
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Stakeholders’ Satisfaction and Performance of Insurance Firms in Nigeria
This study examines how support for the interest of three key stakeholders – customers, employee and government - affects the performance of firms in the insurance industry. The study is operationalized using claims expe...