Effects of diversification and organizational form of insurance companies: three essays
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| Format: | Thesis Book |
| Language: | English |
| Published: |
2010
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| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Item Description: | Enth.: 3 Essays |
| Physical Description: | V, 91 S. |
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Record in the Search Index
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| adam_text | Titel: Effects of diversification and organizational form of insurance companies
Autor: Wende, Sabine
Jahr: 2010
Contents
List or Abbreviations...............................................................................................................Ill
ListorTables..............................................................................................................................V
1. Introduction............................................................................................................................1
2. The Effect of Regulation on Comparative Advantages of Different Organizational
Forms: Evidence from the German Property-Liability Insurance Industry.......................5
2.1 Introduction........................................................................................................................6
2.2 The German Insurance Market and its Regulatory Environment......................................9
Insurance Regulation before July 1994...............................................................................9
Deregulation of the Insurance Industry...............................................................................9
Effects of the German Reunification on the Insurance Industry........................................11
2.3 Conceptual Background and Hypotheses Development..................................................12
Comparative Advantages of Different Organizational Forms in a Competitive Market... 12
Comparative Advantages of Different Organizational Forms in a Highly Regulated
Market................................................................................................................................14
2.4 Data and Method..............................................................................................................16
Data....................................................................................................................................16
Method...............................................................................................................................17
2.5 Results..............................................................................................................................18
Insurer Solvency.................................................................................................................19
Descriptive Statistics for Outputs, Inputs and Input Prices...............................................21
Pooled Frontier Efficiency Results....................................................................................21
Cross-Frontier Efficiency Results......................................................................................21
Regression Results.............................................................................................................27
Productivity Changes.........................................................................................................33
2.6 Conclusion.......................................................................................................................35
3. Successful Business Strategies for Insurers Entering and Crowing in Emerging
Markets___________________________________________________________________37
3.1 Introduction......................................................................................................................38
3.2 Methodology and Related Literature...............................................................................39
Data Analysis.....................................................................................................................39
Sample and Data................................................................................................................40
3.3 Results..............................................................................................................................44
Differences between High-Performance and Low-Performance Insurers........................44
The Impact of Insurers Business Strategies on their Performance..................................44
Mediating Effects of Country Characteristics...................................................................46
Do the Same Strategies which Improve Performance also Explain Top Performance?... 47
3.4 Conclusion.......................................................................................................................52
4. Capital Market Development, Competition, Property Rights, and the Value of Insurer
Product-Line Diversification: A Cross-Country Analysis._____......________.....____..... 53
4.1 Introduction......................................................................................................................54
4.2 Prior Literature.................................................................................................................56
4.3 Conceptual Background and Hypotheses Development..................................................58
4.4 Data and Methodology.....................................................................................................60
Sample Selection................................................................................................................60
Performance Regression Model.........................................................................................61
Country-Level Factors Moderating the Diversification-Performance Relationship.........63
Summary Statistics.............................................................................................................66
4.5 Results..............................................................................................................................66
Pooled Performance Regressions......................................................................................69
Country-Level Factors Influencing the Diversification-Performance Relationship..........71
Controlling for the Moderating Effect of Insurer Size.......................................................74
Chop-Shop Approach.........................................................................................................76
4.6 Conclusion.......................................................................................................................79
5. Appendix--------------..______?.....__---------.-----------.......------..?...__.____._______.81
6. References____?__.______.__------------------------.________.._________.______.____85
List of Tables
Table 1 Yearly Growth Rates of Selected Variables.................................................................18
Table 2 Ratio of total surplus to premiums written net of reinsurance for the years 1988
through 2005 and across organizational forms..........................................................................20
Table 3 Descriptive Statistics for Input and Output Variables..................................................22
Table 4 Technical Efficiency Score Results of Stock, Mutual and Public Insurers Input-
Output-Combinations.................................................................................................................23
Table 5 Cost Efficiency Score Results of Stock, Mutual and Public Insurers Input-Output-
Combinations.............................................................................................................................26
Table 6 Revenue Efficiency Score Results of Stock, Mutual and Public Insurers Input-
Output-Combinations.................................................................................................................28
Table 7 Frontier Distance Regressions for the Years 1995 through 2005.................................30
Table 8 Frontier Distance Regressions for the Years 1988 through 1990.................................31
Table 9 Malmquist Results........................................................................................................34
Table 10 Descriptive Statistics of Insurer and Country Characteristics, 2004-2007.................42
Table 11 Univariate Comparison between High-Performance and Low-Performance Insurers45
Table 12 Regression of Insurer Performance on Business Strategy Variables and Controls.... 46
Table 13 Interaction of Business Strategy Variables with Country Characteristics..................47
Table 14 Logistic Regression of Top-Performance Dummy on Strategy Variables and
Controls......................................................................................................................................51
Table 15 Descriptive Statistics of Country and Insurer Characteristics, 2004-2007.................67
Table 16 Univariate Comparison between Life, Non-Life and Diversified Insurer..................69
Table 17 Regression of Insurer Performance on Diversification and Controls.........................70
Table 18 Interaction of Diversification with Country Characteristics.......................................73
Table 19 The Mediating Effect of Size on the Diversification-Performance Relationship.......75
Table 20 Interaction of Diversification with Country Characteristics for Small, Medium, and
Large Insurers............................................................................................................................78
Table21 Frontier Distance Regressions for the Years 1991 through 1994...............................81
Table 22 Frontier Distance Regressions for the Years 1995 through 2005 (bootstrapped
standard errors)..........................................................................................................................82
Table 23 Frontier Distance Regressions for the Years 1991 through 1994 (bootstrapped
standard errors)..........................................................................................................................83
Table 24 Frontier Distance Regressions for the Years 1988 through 1990 (bootstrapped
standard errors)..........................................................................................................................84
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| spelling | Wende, Sabine Verfasser (DE-588)136310311 aut Effects of diversification and organizational form of insurance companies three essays vorgelegt von Sabine Wende 2010 V, 91 S. txt rdacontent n rdamedia nc rdacarrier Enth.: 3 Essays Köln, Univ., Diss., 2010 Versicherungsbetrieb (DE-588)4063180-1 gnd rswk-swf Regulierung (DE-588)4201190-5 gnd rswk-swf Diversifikation (DE-588)4012539-7 gnd rswk-swf (DE-588)4113937-9 Hochschulschrift gnd-content Versicherungsbetrieb (DE-588)4063180-1 s Diversifikation (DE-588)4012539-7 s Regulierung (DE-588)4201190-5 s DE-604 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=020644459&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Wende, Sabine Effects of diversification and organizational form of insurance companies three essays Versicherungsbetrieb (DE-588)4063180-1 gnd Regulierung (DE-588)4201190-5 gnd Diversifikation (DE-588)4012539-7 gnd |
| subject_GND | (DE-588)4063180-1 (DE-588)4201190-5 (DE-588)4012539-7 (DE-588)4113937-9 |
| title | Effects of diversification and organizational form of insurance companies three essays |
| title_auth | Effects of diversification and organizational form of insurance companies three essays |
| title_exact_search | Effects of diversification and organizational form of insurance companies three essays |
| title_full | Effects of diversification and organizational form of insurance companies three essays vorgelegt von Sabine Wende |
| title_fullStr | Effects of diversification and organizational form of insurance companies three essays vorgelegt von Sabine Wende |
| title_full_unstemmed | Effects of diversification and organizational form of insurance companies three essays vorgelegt von Sabine Wende |
| title_short | Effects of diversification and organizational form of insurance companies |
| title_sort | effects of diversification and organizational form of insurance companies three essays |
| title_sub | three essays |
| topic | Versicherungsbetrieb (DE-588)4063180-1 gnd Regulierung (DE-588)4201190-5 gnd Diversifikation (DE-588)4012539-7 gnd |
| topic_facet | Versicherungsbetrieb Regulierung Diversifikation Hochschulschrift |
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