Thai life insurer efficiency
The study global objective is to provide an analysis of the efficiency of the Thai life insurance industry during 1990-1997. This research utilizes data envelopment analysis (DEA), a mathematical programming approach, to calculate efficiency. To investigate productivity changes, a Malmquist analysis...
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Chulalongkorn University
2008
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th-cuir.56562008-01-30T01:49:33Z Thai life insurer efficiency Thitivadee Boonyasai Chulalongkorn University. Faculty of Commerce and Accountancy Insurance, Life -- Thailand The study global objective is to provide an analysis of the efficiency of the Thai life insurance industry during 1990-1997. This research utilizes data envelopment analysis (DEA), a mathematical programming approach, to calculate efficiency. To investigate productivity changes, a Malmquist analysis is used to determine whether and the extent of efficiency changes. This study found that the Thai life insurance industry seems to have regressed in terms of efficiency after 1992. This drop in total efficiency was due to the inability of the average firm to keep pace with the best-practice life insurer as well as to loss in scale efficiency. This may be because Thailand did not adopt more liberal policies and maintained restrictive regulatory regimes. The evidence suggests that, during 1990-1997, productively growth was stimulated, particularly during 1995-1997. Productively growth in the Thai life insurance market was caused primarily by technological change due to an expanding production frontier rather than an improvement in technical efficiency. Study result is consistent with the view that a host –country insurers benefit from foreign investment. Study results, hence, provide some evidence supporting Thai regulatory changes that would enable host-country insurers to benefit from a more open market. By Faculty of Commerce and Accountancy, Chulalongkorn University 2008-01-29T07:19:07Z 2008-01-29T07:19:07Z 2000 Technical Report http://cuir.car.chula.ac.th/handle/123456789/5656 en Chulalongkorn University 743949 bytes application/pdf application/pdf Chulalongkorn University |
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Insurance, Life -- Thailand Thitivadee Boonyasai Thai life insurer efficiency |
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The study global objective is to provide an analysis of the efficiency of the Thai life insurance industry during 1990-1997. This research utilizes data envelopment analysis (DEA), a mathematical programming approach, to calculate efficiency. To investigate productivity changes, a Malmquist analysis is used to determine whether and the extent of efficiency changes. This study found that the Thai life insurance industry seems to have regressed in terms of efficiency after 1992. This drop in total efficiency was due to the inability of the average firm to keep pace with the best-practice life insurer as well as to loss in scale efficiency. This may be because Thailand did not adopt more liberal policies and maintained restrictive regulatory regimes. The evidence suggests that, during 1990-1997, productively growth was stimulated, particularly during 1995-1997. Productively growth in the Thai life insurance market was caused primarily by technological change due to an expanding production frontier rather than an improvement in technical efficiency. Study result is consistent with the view that a host –country insurers benefit from foreign investment. Study results, hence, provide some evidence supporting Thai regulatory changes that would enable host-country insurers to benefit from a more open market. |
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Chulalongkorn University. Faculty of Commerce and Accountancy |
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Chulalongkorn University. Faculty of Commerce and Accountancy Thitivadee Boonyasai |
format |
Technical Report |
author |
Thitivadee Boonyasai |
author_sort |
Thitivadee Boonyasai |
title |
Thai life insurer efficiency |
title_short |
Thai life insurer efficiency |
title_full |
Thai life insurer efficiency |
title_fullStr |
Thai life insurer efficiency |
title_full_unstemmed |
Thai life insurer efficiency |
title_sort |
thai life insurer efficiency |
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Chulalongkorn University |
publishDate |
2008 |
url |
http://cuir.car.chula.ac.th/handle/123456789/5656 |
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1681413591189684224 |