The paper examines efficiency and productivity of US property-liability (P-L) insurers using data envelopment analysis … (DEA). We estimate pure technical, scale, cost, revenue and profit efficiency over the period 1993-2011. Insurers' adjacent … relationship of insurers' efficiency with their ownership structure, product and distribution strategies. Regression analyses are …

The objective of this paper is to discuss the use of modern frontier efficiency analysis to analyze firm performance in … research to incorporate the frontier efficiency approach. The chapter also serves as a guide for those who are already … conducting frontier efficiency analysis but are seeking guidance in using the methodology or defining inputs and outputs. We …

This study investigates the effects of financial deepening on innovation efficiency for various democratic levels of … increased innovation efficiency only when political institutions are sufficiently democratic. In contrast, the enhancing effect … of stock market deepening on innovation efficiency requires a lower level of political democracy. Furthermore, the …

, a lack of a common definition of market efficiency precludes a common language. Second, efficient markets are conflated …. Bubbles cannot occur in rational markets but they can occur in unbeatable markets. I argue that a belief in market efficiency …