Evaluating solvency versus efficiency performance and different forms of organization and marketing in US property––liability insurance companies

Brockett, Patrick L.; Cooper, W. W.; Golden, Linda L.; Rousseau, John J.; Wang, Yuying

doi:10.1016/s0377-2217(03)00184-x

Cited by 62 publications

(69 citation statements)

References 19 publications

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“…x ij λ j means that with some combination of inputs other DMUs (identified by the non-zero λ j values) could have improved this input in amount by s io = x io À P n j=1 x ij λ j without worsening any other input or output (Brockett et al, 2004). Consider, for example a DMU on ABC with coordinates (2.7, 3) as opposed to DMU D with coordinates (7, 3) in Figure 2.…”

Section: Datamentioning

confidence: 99%

“…First, the theoretical distribution of efficiency scores in DEA is generally unknown so a convention in the DEA literature is to use non-parametric tests (Brockett and Golany, 1996;Cooper et al, 2007;Bogetoft and Otto, 2011). Second, because RAM can be used to rank DMUs, it lends itself to the rankings that underlie non-parametric rank statistics (Brockett et al, 2004). Both tests employed in this study operate based on the rank transformation approach; that is, the data are replaced by their ranks and then the usual parametric tests (e.g.…”

Section: Datamentioning

confidence: 99%

“…Phases 1 and 2 are therefore independent but complementary. See Brockett et al (2004) who also conducted their analysis in two stages analogous to the two Phases employed here.…”

Section: Datamentioning

confidence: 99%

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An approach to holistically assess (dairy) farm eco-efficiency by combining Life Cycle Analysis with Data Envelopment Analysis models and methodologies

Soteriades

Faverdin

Moreau

et al. 2016

Animal

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Eco-efficiency is a useful guide to dairy farm sustainability analysis aimed at increasing output (physical or value added) and minimizing environmental impacts (EIs). Widely used partial eco-efficiency ratios (EIs per some functional unit, e.g. kg milk) can be problematic because (i) substitution possibilities between EIs are ignored, (ii) multiple ratios can complicate decision making and (iii) EIs are not usually associated with just the functional unit in the ratio's denominator. The objective of this study was to demonstrate a 'global' eco-efficiency modelling framework dealing with issues (i) to (iii) by combining Life Cycle Analysis (LCA) data and the multiple-input, multiple-output production efficiency method Data Envelopment Analysis (DEA). With DEA each dairy farm's outputs and LCA-derived EIs are aggregated into a single, relative, bounded, dimensionless eco-efficiency score, thus overcoming issues (i) to (iii). A novelty of this study is that a model providing a number of additional desirable properties was employed, known as the Range Adjusted Measure (RAM) of inefficiency. These properties altogether make RAM advantageous over other DEA models and are as follows. First, RAM is able to simultaneously minimize EIs and maximize outputs. Second, it indicates which EIs and/or outputs contribute the most to a farm's eco-inefficiency. Third it can be used to rank farms in terms of eco-efficiency scores. Thus, non-parametric rank tests can be employed to test for significant differences in terms of eco-efficiency score ranks between different farm groups. An additional DEA methodology was employed to 'correct' the farms' eco-efficiency scores for inefficiencies attributed to managerial factors. By removing managerial inefficiencies it was possible to detect differences in eco-efficiency between farms solely attributed to uncontrollable factors such as region. Such analysis is lacking in previous dairy studies combining LCA with DEA. RAM and the 'corrective' methodology were demonstrated with LCA data from French specialized dairy farms grouped by region (West France, Continental France) and feeding strategy (regardless of region). Mean eco-efficiency score ranks were significantly higher for farms with <10% and 10% to 30% maize than farms with >30% maize in the total forage area before correcting for managerial inefficiencies. Mean eco-efficiency score ranks were higher for West than Continental farms, but significantly higher only after correcting for managerial inefficiencies. These results helped identify the eco-efficiency potential of each region and feeding strategy and could therefore aid advisors and policy makers at farm or region/sector level. The proposed framework helped better measure and understand (dairy) farm eco-efficiency, both within and between different farm groups.

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Section: Datamentioning

confidence: 99%

Section: Datamentioning

confidence: 99%

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An approach to holistically assess (dairy) farm eco-efficiency by combining Life Cycle Analysis with Data Envelopment Analysis models and methodologies

Soteriades

Faverdin

Moreau

et al. 2016

Animal

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“…Several studies show that direct distribution systems (employed agent or company representatives) are less efficient than independent agent distribution systems (Brockett et al, 1998(Brockett et al, , 2004Klumpes , 2004). In another study, conducted by , the direct distribution systems are more cost efficient, however the two distribution systems are equally efficient while taking account of profit.…”

Section: Agent Distribution Systemsmentioning

confidence: 98%

Efficiency concept and investigations in insurance industry: A survey

Jarraya¹,

Bouri²

2013

msl

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Most recent studies are based on benchmarking analysis allowing the measure of company efficiency relatively to a reference performance. Benchmarking is a helpful tool to analyze and promote efficiency in insurance companies. The fast development of X-efficiency notion makes traditional performance measures (ROA, ROE, etc.) obsolete. Indeed, various methods have been used, various input-output measures have been proposed and various research fields have been explored in insurance company investigation. So, after reviewing most known efficiency concepts and their definitions, this section explores the literature review of two principal points of discussion: the first point is focused on the different used techniques to measure efficiency, including the developed approaches to define inputs, outputs and their prices. The second point represents an overview of efficiency investigations in insurance industry.

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“…Taking care of all these classification, private sector banks possess a unique characteristic which is profit maximization or wealth maximization for the investors (Chowdhury & Ahmed, 2009;Rezvanian et al, 2008). Such issue of maximizing profit, in some cases, scroll to unwanted shutdown of some banks due to their undue operations and business transactions (Brockett, Cooper, Golden, Rousseau, & Wang, 2004). However, a strong contribution of private sector banks in Indians national economy is absolute (Bhattacharyya, Lovell, & Sahay, 1997;M.…”

Section: Introductionmentioning

confidence: 99%

Measuring the Efficiency of Private Sector Banks: Evidence from India

Rahman¹,

Azad²

2015

IJBM

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This study examines the profitability of Indian private sector banks using a non-parametric test namely Data Envelopment Analysis (DEA). The study uses Malmquist total factor productivity to examine the shift (inward or outward) of banks' efficiency frontier during the study period 2011-2013. Only secondary data has been used from the Bankscope database for this study. In this study, emphasis has been given on consolidating the efficiency of Indian private sector banks which is much more expected to the management point of view than the profitability. This study uses three input variables and three output variables to measure bank efficiency. The specific findings of this research shows that the private sector of Indian banks did not achieve progress in all respect during the study period, the banks with higher loan loss reserve and large liquidity reserve have been found as the most regressed banks, and the banks with higher progress have diversified the profit successfully from both interest and not-interest income. The limitations and policy implications of this study have been presented. The scope of future studies has also been addressed.

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Evaluating solvency versus efficiency performance and different forms of organization and marketing in US property––liability insurance companies

Cited by 62 publications

References 19 publications

An approach to holistically assess (dairy) farm eco-efficiency by combining Life Cycle Analysis with Data Envelopment Analysis models and methodologies

An approach to holistically assess (dairy) farm eco-efficiency by combining Life Cycle Analysis with Data Envelopment Analysis models and methodologies

Efficiency concept and investigations in insurance industry: A survey

Measuring the Efficiency of Private Sector Banks: Evidence from India

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