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@article{ART002143946},
author={cho, seok-hee},
title={A Study on Value Relevance of Solvency Margin Ratio and Operational Efficiency in the Non - life Insurance Companies},
journal={Journal of Insurance and Finance},
issn={2384-3209},
year={2016},
volume={27},
number={3},
pages={117-154},
doi={10.23842/jif.2016.27.3.004}

TY - JOUR
AU - cho, seok-hee
TI - A Study on Value Relevance of Solvency Margin Ratio and Operational Efficiency in the Non - life Insurance Companies
JO - Journal of Insurance and Finance
PY - 2016
VL - 27
IS - 3
PB - Korea Insurance Research Institute
SP - 117
EP - 154
SN - 2384-3209
AB - This study empirically examined the value relevance of non-life insurance companies' solvency margin ratio(hereafter 'SMR') and operational efficiency using the samples consisting non-life insurance companies listed on the Korean Stock Exchange. The results are as follow; First, there is a positive association between the SMR and firm's value after controlling for firm's equity book value and net income, but the relative value relevance of SMR is not significantly higher than debt ratio. Second, this paper provide a empirical evidence that DEA efficiency measure has a incremental value relevance which equity book value and net income have not, but DEA efficiency measure is significantly lower than statutory efficiency measure(earned-incurred loss ratio and net expense ratio). This study has a significant meaning because the incremental and relative value relevance of the SMR and DEA efficiency measure in the non-life insurance industry were directly analysed in this paper, differently from previous studies.
KW - data envelopment analysis(DEA);operational efficiency;solvency margin ratio(SMR);value relevance
DO - 10.23842/jif.2016.27.3.004
ER -

cho, seok-hee. (2016). A Study on Value Relevance of Solvency Margin Ratio and Operational Efficiency in the Non - life Insurance Companies. Journal of Insurance and Finance, 27(3), 117-154.

cho, seok-hee. 2016, "A Study on Value Relevance of Solvency Margin Ratio and Operational Efficiency in the Non - life Insurance Companies", Journal of Insurance and Finance, vol.27, no.3 pp.117-154. Available from: doi:10.23842/jif.2016.27.3.004

cho, seok-hee "A Study on Value Relevance of Solvency Margin Ratio and Operational Efficiency in the Non - life Insurance Companies" Journal of Insurance and Finance 27.3 pp.117-154 (2016) : 117.

cho, seok-hee. A Study on Value Relevance of Solvency Margin Ratio and Operational Efficiency in the Non - life Insurance Companies. 2016; 27(3), 117-154. Available from: doi:10.23842/jif.2016.27.3.004

cho, seok-hee. "A Study on Value Relevance of Solvency Margin Ratio and Operational Efficiency in the Non - life Insurance Companies" Journal of Insurance and Finance 27, no.3 (2016) : 117-154.doi: 10.23842/jif.2016.27.3.004

cho, seok-hee. A Study on Value Relevance of Solvency Margin Ratio and Operational Efficiency in the Non - life Insurance Companies. Journal of Insurance and Finance, 27(3), 117-154. doi: 10.23842/jif.2016.27.3.004

cho, seok-hee. A Study on Value Relevance of Solvency Margin Ratio and Operational Efficiency in the Non - life Insurance Companies. Journal of Insurance and Finance. 2016; 27(3) 117-154. doi: 10.23842/jif.2016.27.3.004

cho, seok-hee. A Study on Value Relevance of Solvency Margin Ratio and Operational Efficiency in the Non - life Insurance Companies. 2016; 27(3), 117-154. Available from: doi:10.23842/jif.2016.27.3.004

cho, seok-hee. "A Study on Value Relevance of Solvency Margin Ratio and Operational Efficiency in the Non - life Insurance Companies" Journal of Insurance and Finance 27, no.3 (2016) : 117-154.doi: 10.23842/jif.2016.27.3.004