Corporate governance and efficiency performance in China’s life insurance industry: a configuration analysis based on DEA-fsQCA

Yi Xie (), Rozaimah Zainudin () and Nurul Shahnaz Mahdzan ()
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Yi Xie: University of Malaya
Rozaimah Zainudin: University of Malaya
Nurul Shahnaz Mahdzan: University of Malaya

Future Business Journal, 2025, vol. 11, issue 1, 1-13

Abstract: Abstract While China has emerged as a leading Asian insurance market, research on improving operational efficiency (OE) in its insurance sector remains limited. This study employs two-stage network data envelopment analysis (DEA) to measure efficiency across 81 Chinese life insurers (2011–2020), identifying improvement pathways through necessary condition analysis (NCA) and fuzzy-set qualitative comparative analysis (fsQCA). Our findings reveal improving but suboptimal OE, with state-owned enterprises showing higher performance in premium acquisition but lower performance in distribution efficiency than non-SOEs. We identify four high-efficiency configurational paths, with firm age consistently appearing as a necessary condition. Results reveal that state-owned life insurers require comprehensive governance arrangements, while non-state insurers can achieve efficiency through multiple pathways, with firm age emerging as a necessary condition across all high-efficiency configurations. This study advances the understanding of efficiency determinants in emerging insurance markets through its configuration analysis.

Keywords: Corporate governance; Life insurance industry; Configuration analysis; fsQCA (search for similar items in EconPapers)
Date: 2025
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DOI: 10.1186/s43093-025-00555-1

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