Financial Consolidation and Financial Performance of Insurance Companies in Nigeria

Q3 Economics, Econometrics and Finance

WSEAS Transactions on Business and Economics Pub Date : 2024-07-05 DOI:10.37394/23207.2024.21.125

I. Akintoye, Charles Ogboi, P. Ogbebor, Olurotimi Ogunwale

引用次数: 0

Abstract

The research investigated the effect financial consolidation has on the performance of Nigerian insurance firms covering the period 2011 to 2022 utilizing the feasible generalized least squares (FGLS) on selected five insurance organizations. Key variables used in the analysis included financial consolidation measured by merger and acquisition (M&A), Herfindahl-Hirschman index (HHI), and concentration underwriting capacity (CUC), while performance was captured by equity return (ROE). Findings revealed that M&A and HHI both positively and significantly affect ROE. However, CUC had positively insignificant effect on ROE. The study then recommended that policymakers and industry stakeholders should focus on improving financial consolidation to support economic growth and improve firm-level performance.

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尼日利亚保险公司的财务合并与财务业绩

本研究利用可行的广义最小二乘法（FGLS）对选定的五家保险机构进行了研究，探讨了 2011 年至 2022 年期间财务合并对尼日利亚保险公司绩效的影响。分析中使用的关键变量包括以并购（M&A）、赫芬达尔-赫希曼指数（HHI）和集中承保能力（CUC）衡量的财务整合，而业绩则以股票回报率（ROE）来衡量。研究结果表明，并购和赫芬达尔-赫希曼指数对投资回报率都有显著的正向影响。但是，CUC 对 ROE 的影响并不显著。因此，该研究建议政策制定者和行业利益相关者重点关注改善金融整合，以支持经济增长并提高公司层面的绩效。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

WSEAS Transactions on Business and Economics Economics, Econometrics and Finance-Economics and Econometrics

CiteScore

1.50

自引率

0.00%

发文量

180

期刊介绍： WSEAS Transactions on Business and Economics publishes original research papers relating to the global economy. We aim to bring important work using any economic approach to a wide international audience and therefore only publish papers of exceptional scientific value that advance our understanding of finances. The research presented must transcend the limits of case studies, while both experimental and theoretical studies are accepted. While its main emphasis is economic, it is a multi-disciplinary journal and therefore its content mirrors the diverse interests and approaches of scholars involved with the international dimensions of business, economics, finance, history, law, marketing, management, political science, and related areas. It also welcomes scholarly contributions from officials with government agencies, international agencies, and non-governmental organizations.