Using data for the period from 1855 to 1947 and the two sub-periods, 1855-1902 and 1903-47, the article examines whether the organic growth rates of 38 Swedish life insurance firms are independent of size, as predicted by Gibrat's (1931) Law of Proportionate Effects. Using panel unit root tests...

This paper examines the determinants of external credit ratings attained by insurance firms in the United Kingdom (UK) and of the likelihood that insurers will have such an assessment. Using panel data relating to A.M. Best-rated and Standard and Poor's (S&P)-rated insurers over the period...

This study examines the cost efficiency of non-life Takaful insurance firms operating in 10 Islamic countries. Non-parametric data envelopment analysis is used to compute cost efficiency scores and a second-stage logit transformation regression model is then estimated to test the influence of...

This study uses 1991-99 data gathered from the United Kingdom's life insurance industry to test empirically the notion that the reported annual surplus of a life insurer may be influenced by four firm-specific characteristics: namely, reinsurance, output mix, organizational form and firm size....

The study tests empirically whether the leasing decision of United Kingdom companies is determined by four company-specific characteristics. The findings suggest that there is a positive relationship between the propensity to lease and both leverage and ownership structure. The study offers only...

To identify likely gainers and losers and to examine the effects of increasing competition on the structure of the UK life insurance industry, the cost inefficiency of UK life insurance companies is analysed. A flexible stochastic cost frontier is estimated for the industry using a sample of 54...

This paper presents a review of the extensive literature concerned with estimating production and cost inefficiencies in banks. The meaning of inefficiency in this context is outlined, alternative estimation techniques are summarised and the problems of modelling the activities of banks and...

International trade in financial services is a topic of some importance both to the financial services sector itself and in international trade negotiations. Unfortunately, intrinsic problems in defining and measuring trade in services, combined with a lack of data in many countries, have made...