標題: | Risk, Capital, and Operating Efficiency: Evidence from Taiwan's Life Insurance Market |
作者: | Hu, Jin-Li Yu, Hsueh-E 經營管理研究所 Institute of Business and Management |
關鍵字: | asset risk;operating efficiency;product risk;two-stage least-square approach |
公開日期: | 1-一月-2015 |
摘要: | In this article, we investigate the relationships among risk, capital, and operating efficiency for Taiwanese life insurance companies from 2004 to 2009 by using the two-stage least-square approach. We find a positive relation between inefficiency and product risk. At the same time, efficient insurers are seen as taking higher asset risk than inefficient insurers. A contrasting finding also shows that the relationship between capital and product risk is positive, while the relationship between capital and asset risk is negative. Moreover, we present a negative relationship between inefficiency and capital level, indicating that well-capitalized insurers operate more efficiently than poorly capitalized insurers. |
URI: | http://dx.doi.org/10.1080/1540496X.2014.998907 http://hdl.handle.net/11536/127967 |
ISSN: | 1540-496X |
DOI: | 10.1080/1540496X.2014.998907 |
期刊: | EMERGING MARKETS FINANCE AND TRADE |
Volume: | 51 |
起始頁: | S121 |
結束頁: | S132 |
顯示於類別: | 期刊論文 |