Analysis of Takaful vs. Conventional insurance firms’ efficiency: Two-stage DEA of Saudi Arabia’s insurance market

Despite the remarkable growth in the insurance industry over the past two decades, few studies evaluate the performance of Takaful vs. conventional insurance firms with focus on the standard structure of production as a two-stage process, that is, operations and profitability. Thus, this research ex...

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Autor principal:	Tarifa Almulhim
Formato:	article
Lenguaje:	EN
Publicado:	Taylor & Francis Group 2019
Materias:	takaful firms saudi arabian insurance market two-stage data envelopment analysis efficiency Business HF5001-6182 Management. Industrial management HD28-70
Acceso en línea:	https://doaj.org/article/9642fd076c144736b6d03a2049e76ff7
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id	oai:doaj.org-article:9642fd076c144736b6d03a2049e76ff7
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spelling	oai:doaj.org-article:9642fd076c144736b6d03a2049e76ff72021-12-02T18:31:22ZAnalysis of Takaful vs. Conventional insurance firms’ efficiency: Two-stage DEA of Saudi Arabia’s insurance market2331-197510.1080/23311975.2019.1633807https://doaj.org/article/9642fd076c144736b6d03a2049e76ff72019-01-01T00:00:00Zhttp://dx.doi.org/10.1080/23311975.2019.1633807https://doaj.org/toc/2331-1975Despite the remarkable growth in the insurance industry over the past two decades, few studies evaluate the performance of Takaful vs. conventional insurance firms with focus on the standard structure of production as a two-stage process, that is, operations and profitability. Thus, this research examines the performance of Saudi Arabia’s insurance market using a two-stage data envelopment analysis to assess the efficiency of the two production stages and accordingly, define the leader stage. The empirical results obtained using data for 26 conventional and seven Takaful insurance firms for 2014–2017 indicate declining average efficiency scores for both firm types. In other words, Saudi Arabia’s insurance market warrants new consolidation and foreign participation regulations to assist firms in becoming dynamic and strong. This study makes a significant contribution given the dearth of an exclusive analysis on the two-stage efficiency of Saudi Arabia’s Takaful and conventional insurance firms. Further, it offers key implications for decision makers, regulators, and managers associated with the insurance industry in Saudi Arabia and other emerging insurance markets.Tarifa AlmulhimTaylor & Francis Grouparticletakaful firmssaudi arabian insurance markettwo-stage data envelopment analysisefficiencyBusinessHF5001-6182Management. Industrial managementHD28-70ENCogent Business & Management, Vol 6, Iss 1 (2019)
institution	DOAJ
collection	DOAJ
language	EN
topic	takaful firms saudi arabian insurance market two-stage data envelopment analysis efficiency Business HF5001-6182 Management. Industrial management HD28-70
spellingShingle	takaful firms saudi arabian insurance market two-stage data envelopment analysis efficiency Business HF5001-6182 Management. Industrial management HD28-70 Tarifa Almulhim Analysis of Takaful vs. Conventional insurance firms’ efficiency: Two-stage DEA of Saudi Arabia’s insurance market
description	Despite the remarkable growth in the insurance industry over the past two decades, few studies evaluate the performance of Takaful vs. conventional insurance firms with focus on the standard structure of production as a two-stage process, that is, operations and profitability. Thus, this research examines the performance of Saudi Arabia’s insurance market using a two-stage data envelopment analysis to assess the efficiency of the two production stages and accordingly, define the leader stage. The empirical results obtained using data for 26 conventional and seven Takaful insurance firms for 2014–2017 indicate declining average efficiency scores for both firm types. In other words, Saudi Arabia’s insurance market warrants new consolidation and foreign participation regulations to assist firms in becoming dynamic and strong. This study makes a significant contribution given the dearth of an exclusive analysis on the two-stage efficiency of Saudi Arabia’s Takaful and conventional insurance firms. Further, it offers key implications for decision makers, regulators, and managers associated with the insurance industry in Saudi Arabia and other emerging insurance markets.
format	article
author	Tarifa Almulhim
author_facet	Tarifa Almulhim
author_sort	Tarifa Almulhim
title	Analysis of Takaful vs. Conventional insurance firms’ efficiency: Two-stage DEA of Saudi Arabia’s insurance market
title_short	Analysis of Takaful vs. Conventional insurance firms’ efficiency: Two-stage DEA of Saudi Arabia’s insurance market
title_full	Analysis of Takaful vs. Conventional insurance firms’ efficiency: Two-stage DEA of Saudi Arabia’s insurance market
title_fullStr	Analysis of Takaful vs. Conventional insurance firms’ efficiency: Two-stage DEA of Saudi Arabia’s insurance market
title_full_unstemmed	Analysis of Takaful vs. Conventional insurance firms’ efficiency: Two-stage DEA of Saudi Arabia’s insurance market
title_sort	analysis of takaful vs. conventional insurance firms’ efficiency: two-stage dea of saudi arabia’s insurance market
publisher	Taylor & Francis Group
publishDate	2019
url	https://doaj.org/article/9642fd076c144736b6d03a2049e76ff7
work_keys_str_mv	AT tarifaalmulhim analysisoftakafulvsconventionalinsurancefirmsefficiencytwostagedeaofsaudiarabiasinsurancemarket
_version_	1718377994105389056

Analysis of Takaful vs. Conventional insurance firms’ efficiency: Two-stage DEA of Saudi Arabia’s insurance market

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