Liberalisation and Market Concentration Impact on Performance of the Non-Life Insurance Industry: The Evidence from Eastern Europe

Vladimir Njegomir () and Dragan Stojić ()
Additional contact information
Vladimir Njegomir: Faculty of Legal and Business Studies, 14 Sonja Marinkovic, 21000 Novi Sad, Serbia.
Dragan Stojić: Faculty of Economics, 16 Dr Sime Milosevica, 21000 Novi Sad, Serbia.

The Geneva Papers on Risk and Insurance - Issues and Practice, 2011, vol. 36, issue 1, 94-106

Abstract: The aim of this paper is to examine market structure, conduct and performance relationship (S-C-P) hypothesis for the non-life insurance industry in Eastern European countries. Additionally, we examine the effect of liberalisation on market structure and performance. We use the country-specific fixed effects models for panel data for the period 2004–2008 allowing each cross-sectional unit to have a different intercept term serving as an unobserved random variable that is potentially correlated with the observed regressors. Three models are presented, each placing market structure, liberalisation and profitability in a distinct environment defined by related control variables. The research results support the S-C-P hypothesis in all of the observed models, showing evidence of strong influence of market structure and liberalisation on market profitability. These results could be useful in decision-making for both governments and insurance companies.

Date: 2011
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.palgrave-journals.com/gpp/journal/v36/n1/pdf/gpp201032a.pdf Link to full text PDF (application/pdf)
http://www.palgrave-journals.com/gpp/journal/v36/n1/full/gpp201032a.html Link to full text HTML (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:gpprii:v:36:y:2011:i:1:p:94-106

Ordering information: This journal article can be ordered from
http://www.springer.com/finance/journal/41288/PS2

Access Statistics for this article

The Geneva Papers on Risk and Insurance - Issues and Practice is currently edited by Christophe Courbage

More articles in The Geneva Papers on Risk and Insurance - Issues and Practice from Palgrave Macmillan, The Geneva Association Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().