Sara Suárez Fernández, Raquel Quiroga-García, Isabel María Manzano Pérez
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引用次数: 0
摘要
以往有关保险市场经营业绩的文献往往只关注效率或盈利能力。然而，在西班牙保险市场上，这两者之间的关系尚未得到研究。本文研究了通过两阶段 DEA 获得的效率得分与经典财务比率（投资回报率、投资利润率、技术比率、综合比率和损失率）值之间的关系。我们使用了 2008-2017 年西班牙非寿险市场中 111 家公司的样本。我们发现，效率与盈利能力之间存在正相关关系，且收益递减，效率最高的公司的效率对利润率的正向影响较低。
Studying the relation between efficiency and profitability in the non-life insurance market
Previous literature on business performance in the insurance market tends to focus only on efficiency or profitability. However, the relationship between both has yet to be addressed in the Spanish insurance market. This paper examines the relationship between efficiency scores obtained through a two-stage DEA and the values of the classical financial ratios (ROE, ROA, Technical Ratio, Combined Ratio and Loss Ratio). We use a sample of 111 firms from the non-life Spanish insurance market from 2008-2017. We find a positive relationship between efficiency and profitability, which shows decreasing returns, with the positive effect of efficiency on profit ratios being lower for the most efficient companies.
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