Cost efficiency and board composition under different takaful insurance business models

被引：36

作者：

Kader, Hala Abdul ^{[1
]}

Adams, Mike ^{[2
]}

Hardwick, Philip ^{[3
]}

Kwon, W. Jean ^{[4
]}

机构：

[1] Price Waterhouse Coopers London, London, England

[2] Univ Bath, Sch Management, Bath BA2 7AY, Avon, England

[3] Bournemouth Univ, Execut Business Ctr, Poole BH12 5BB, Dorset, England

[4] St Johns Univ, Sch Risk Management, New York, NY USA

来源：

INTERNATIONAL REVIEW OF FINANCIAL ANALYSIS | 2014年 / 32卷

关键词：

Takaful insurance; Cost efficiency; Board composition; Corporate governance; Nonparametric analysis; Data envelopment analysis; CORPORATE GOVERNANCE; PROFIT EFFICIENCY; PERFORMANCE; DETERMINANTS; OWNERSHIP; COMPANIES; BANK; SIZE; FIRM;

D O I：

10.1016/j.irfa.2013.12.008

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This study examines the link between cost efficiency and board composition in non-life takaful insurance firms operating in 17 Islamic countries using panel data for 2004-2007. Nonparametric data envelopment analysis (DEA) is used to compute cost efficiency scores and a second-stage logit transformation regression model is then employed to test the influence of corporate characteristics on these efficiencies. We find that average levels of cost efficiency in takaful insurance markets mirror the efficiency in developed non-life insurance markets. The relative influence of board composition, such as the proportion of non-executive directors on the board, on the cost efficiency of takaful insurers depends on its interaction with other firm-specific characteristics such as board size. Hence, the effect of corporate governance systems on the cost efficiency of takaful insurers can be complicated by various firm-specific factors. Our results could have important commercial and policy implications. (C) 2013 Published by Elsevier Inc.

引用

页码：60 / 70

页数：11

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