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The effect of organizational structure on efficiency: Evidence from the Spanish insurance industry
16 references·16 citing·35 second hopsampled
The effect of organizational structure on efficiency: Evidence from the Spanish insurance industry (2004)The effect of organizational structure on…Theory of Cost and Production Functions (2015)Theory of Cost and Production…Technical, scale and allocative efficiencies of Turkish banking industry (2002)Technical, scale and allocati…Why are bank profits so persistent? The roles of product market competition, informational opacity, and regional/macroeconomic shocks (2000)Why are bank profits so persi…Comparison of Frontier Efficiency Methods: An Application to the U.S. Life Insurance Industry (1998)Comparison of Frontier Effici…Efficiency of financial institutions: International survey and directions for future research (1997)Efficiency of financial insti…Deregulation and productivity decline: the case of Spanish savings banks (1996)Deregulation and productivity…The Measurement of Productive Efficiency (1993)The Measurement of Productive…Production Frontiers and Productive Efficiency (1993)Production Frontiers and Prod…Output Measurement in the Service Sectors (1992)Output Measurement in the Ser…Technical, Scale, and Allocative Efficiencies in U.S. Banking: An Empirical Investigation (1990)Technical, Scale, and Allocat…Measurement and Efficiency Issues in Commercial Banking (1990)Measurement and Efficiency Is…Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Theory of the firm: Manageria…Risk Aversion in the Small and in the Large (1976)Risk Aversion in the Small an…Theory of the Firm (1966)Theory of the FirmRisk Aversion in the Small and in the Large (1964)Risk Aversion in the Small an…The Measurement of Productive Efficiency (1957)The Measurement of Productive…A survey of data envelopment analysis applications in the insurance industry 1993–2018 (2019)A survey of data envelopment …Modeling investments in the dynamic network performance of insurance companies (2018)Modeling investments in the d…Under pressure: how the business environment affects productivity and efficiency of European life insurance companies (2016)Under pressure: how the busin…Data envelopment analysis in financial services: a citations network analysis of banks, insurance companies and money market funds (2016)Data envelopment analysis in …Competition, efficiency and soundness in European life insurance markets (2016)Competition, efficiency and s…The Determinants of Efficiency and Productivity in the Swiss Insurance Industry (2015)The Determinants of Efficienc…Efficiency drivers in Brazilian insurance: A two-stage DEA meta frontier-data mining approach (2015)Efficiency drivers in Brazili…Intellectual capital and productivity of Malaysian general insurers (2013)Intellectual capital and prod…An efficiency comparison of the non-life insurance industry in the BRIC countries (2012)An efficiency comparison of t…Board Characteristics and Profit Efficiency in the United Kingdom Life Insurance Industry (2011)Board Characteristics and Pro…Frontier Efficiency Methodologies to Measure Performance in the Insurance Industry: Overview, Systematization, and Recent Developments (2010)Frontier Efficiency Methodolo…Efficiency in the Greek insurance industry (2010)Efficiency in the Greek insur…Determinants of Efficiency and Productivity in German Property-Liability Insurance: Evidence for 1995–2006 (2009)Determinants of Efficiency an…Bank modelling methodologies: A comparative non-parametric analysis of efficiency in the Japanese banking sector (2007)Bank modelling methodologies:…Cooperative Financial Institutions (2006)Cooperative Financial Institu…Ownership Structure Changes in the Insurance Industry: An Analysis of Demutualization (2003)Ownership Structure Changes i…Formulation and estimation of stochastic frontier production function models (1977)Efficiency of the Polish banking industry: Foreign versus domestic banks (2005)Efficiency of Banks: Recent Evidence from the Transition Economies of Europe, 1993–2000 (2006)Bank efficiency and foreign ownership: Do good institutions matter? (2007)The International Operations of National Firms: A Study of Direct Foreign Investment (2009)The Nature of the Firm (1937)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)The Pricing of Options and Corporate Liabilities (1973)Separation of Ownership and Control (1983)Corporate financing and investment decisions when firms have information that investors do not have (1984)Law and Finance (1998)Measuring the efficiency of decision making units (1978)Corporate control and bank efficiency (1993)Inside the black box: What explains differences in the efficiencies of financial institutions? (1997)The consolidation of the financial services industry: Causes, consequences, and implications for the future (1999)Bank regulation and supervision: what works best? (2003)Exact and superlative index numbers (1976)An Almost Ideal Demand System (1980)Sensitivity Analysis of Efficiency Scores: How to Bootstrap in Nonparametric Frontier Models (1998)Total Factor Productivity: A Short Biography (2000)On the relationship between innovation and performance: A sensitivity analysis (2006)The Rise of the Service Economy (2009)Some Models for Estimating Technical and Scale Inefficiencies in Data Envelopment Analysis (1984)Why do firms differ, and how does it matter? (1991)Capital markets research in accounting (2001)Has Financial Development Made the World Riskier? (2005)Financial Intermediation and Delegated Monitoring (1984)Prospect theory: An analysis of decision under risk (1988)Well-being : the foundations of hedonic psychology (1999)On the measurement of inequality (1970)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)The arbitrage theory of capital asset pricing (1976)Estimating and bootstrapping Malmquist indices (1999)Cost and profit efficiency in European banks (2002)Data envelopment analysis and its application to the measurement of efficiency in higher education (2005)
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References

  • 1976Theory of the firm: Managerial behavior, agency costs and ownership structure71,441 cited
  • 1957The Measurement of Productive Efficiency16,116 cited
  • 1964Risk Aversion in the Small and in the Large4,964 cited
  • 1976Risk Aversion in the Small and in the Large4,655 cited
  • 1997Efficiency of financial institutions: International survey and directions for future research3,488 cited
  • 2015Theory of Cost and Production Functions2,790 cited
  • 1966Theory of the Firm2,288 cited
  • 1993Production Frontiers and Productive Efficiency687 cited
  • 1992Output Measurement in the Service Sectors605 cited
  • 2002Technical, scale and allocative efficiencies of Turkish banking industry584 cited
  • 1990Technical, Scale, and Allocative Efficiencies in U.S. Banking: An Empirical Investigation518 cited
  • 1993The Measurement of Productive Efficiency470 cited
  • 1990Measurement and Efficiency Issues in Commercial Banking337 cited
  • 1998Comparison of Frontier Efficiency Methods: An Application to the U.S. Life Insurance Industry320 cited
  • 1996Deregulation and productivity decline: the case of Spanish savings banks317 cited

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2000
Why are bank profits so persistent? The roles of product market competition, informational opacity, and regional/macroeconomic shocks
290 cited

Cited by

  • 2019A survey of data envelopment analysis applications in the insurance industry 1993–2018157 cited
  • 2010Frontier Efficiency Methodologies to Measure Performance in the Insurance Industry: Overview, Systematization, and Recent Developments143 cited
  • 2007Bank modelling methodologies: A comparative non-parametric analysis of efficiency in the Japanese banking sector132 cited
  • 2012An efficiency comparison of the non-life insurance industry in the BRIC countries126 cited
  • 2003Ownership Structure Changes in the Insurance Industry: An Analysis of Demutualization117 cited
  • 2016Competition, efficiency and soundness in European life insurance markets117 cited
  • 2015The Determinants of Efficiency and Productivity in the Swiss Insurance Industry112 cited
  • 2010Efficiency in the Greek insurance industry109 cited
  • 2013Intellectual capital and productivity of Malaysian general insurers106 cited
  • 2016Data envelopment analysis in financial services: a citations network analysis of banks, insurance companies and money market funds106 cited
  • 2015Efficiency drivers in Brazilian insurance: A two-stage DEA meta frontier-data mining approach100 cited
  • 2016Under pressure: how the business environment affects productivity and efficiency of European life insurance companies99 cited
  • 2006Cooperative Financial Institutions88 cited
  • 2009Determinants of Efficiency and Productivity in German Property-Liability Insurance: Evidence for 1995–200686 cited
  • 2011Board Characteristics and Profit Efficiency in the United Kingdom Life Insurance Industry75 cited
  • 2018Modeling investments in the dynamic network performance of insurance companies74 cited