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