چکیده:
The paper studies the changes of total factor productivity for all Iranian Insurance companies for the period 2003-2009. In order to measure the changes in productivity, data envelopment analysis (DEA) method is applied. DEA method is used to estimate output oriented Malmquist productivity index. To determine effective factors on the total factor productivity growth of insurance companies tobit regression is used. The results of the study confirm the positive effect of liberalization policy adopted by government on productivity growth. The results also indicate that dimension and the field of activity have significant positive effect on productivity growth
خلاصه ماشینی:
"Productivity Evaluation of Iranian Insurance Industry: A Non-Parametric Malmquist Approach Ahmad Sadraei Javaheri1 Received: 2012/04/18 Accepted: 2013/07/07 Abstract The paper studies the changes of total factor productivity for all Iranian Insurance companies for the period 2003-2009.
The objective of the studyis tomeasure the Malmquist productivity index of the Iranian insurance companies by using the data envelopment analysis (DEA) approach.
The study analyzes comparative efficiency of all Iranian insurance companies and evaluates total productivity with the Malmquist index.
3. Theoretical framework The study applies the efficient frontier approach; using the Malmquist productivity index based on output oriented DEA.
DEA has usuallybeen applied to analyzing the relative productive efficiency of a decision making unit(DMU), performing similar tasks in an industry that consumes multiple inputs to produce multiple outputs.
The Malmquist index measures the total factor productivity change by calculating the change in the distance of a unit in two time periods (period s and period t) relative to a common frontier.
The estimated output oriented CRS Malmquist index for the insurance companies over the period of time is presented in table (2).
Determinants of the efficiency of insurance companies The study applies the Tobit regression method to examine the hypothesis that insurance company efficiency is determined by the liberalization policy adopted by Iranian government in recent years, the dimension of activity measured by size and the field of activity including life and non-life insurance.
Lyroudi (2001), "Non- parametric production frontier approach to the study of efficiency of non-life insurance companies in Greece", Journal of Financial Management and Analysis,14(1): 19–26."