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| Author: | Cummins, J. |
| Title: | Consolidation and efficiency in the US life insurance industry |
| Journal: | Journal of Banking and Finance
1999 : FEB, VOL. 23:2-4, p. 325-357 |
| Index terms: | BANKING FINANCE EFFICIENCY |
| Language: | eng |
| Abstract: | This paper examines the relationship between mergers and acquisitions, efficiency, and scale economies in the US life insurance industry. The authors estimate cost and revenue efficiency over the period 1988-1995 using data envelopment analysis (DEA). The Malmquist methodology is used to measure changes in efficiency over time. The authors find that acquired firms achieve greater efficiency gains than firms that have not been involved in mergers or acquisitions. |
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