Estimates of Scale and Scope Economies in the New Zealand Life Insurance Industry
Estimates of Scale and Scope Economies in the New Zealand Life Insurance Industry
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新西兰人寿保险业规模经济和范围经济估算
DOI：
10.1111/1467-9957.00251
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发表时间：
2001
期刊：
影响因子：
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通讯作者：
M. Pickford
中科院分区：
文献类型：
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作者：
M. Khaled;M. Adams;M. Pickford
最近对北美和英国人寿保险业生产的多产品统计研究在规模经济和范围经济方面得出了好坏参半的结论。这项研究提出了在新西兰，这有一个小的经济，该行业是相对不受管制的人寿保险业的结果。在一个两输入两输出的广义translog模型中，使用了1988- 1992年期间非银行人寿保险公司人口的135个合并观测值。具体产品的规模经济可以用多种方法来衡量，其中包括两种新的方法，即我们所说的“准平均增量成本”和“部分平均成本”。我们发现，虽然小公司可以受益于规模经济，最佳的企业规模是适度的，中型和大型公司的经验近似恒定的规模回报。相比之下，中小型公司经历范围不经济，而大型公司既没有经济也没有范围不经济。版权所有2001年由布莱克威尔出版有限公司和曼彻斯特维多利亚大学
Recent multi-product statistical studies of production in life insurance industries in North America and the UK have produced mixed findings with regard to economies of scale and scope. This study presents results for the life insurance industry in New Zealand, which has a small economy where the industry is comparatively unregulated. A total of 135 pooled observations for the population of non-bank life insurance companies for the period 1988-92 are used in a two-input two-output generalized translog model. Product-specific economies of scale are measured in a variety of ways including two new ones, using what we have called "quasi average incremental cost" and "partial average cost". We find that while small companies could benefit from economies of scale, the optimum firm size is modest, and that medium- and large-sized companies experience approximately constant returns to scale. In contrast, small- and medium-sized companies experience diseconomies of scope, while the large-sized companies have neither economies nor diseconomies of scope. Copyright 2001 by Blackwell Publishers Ltd and The Victoria University of Manchester