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A Luenberger Index for the Greek Life Insurance Industry

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  • Carlos Pestana Barrosa
  • Milton Nektariosb
  • Nicolas Peypochc

Abstract

This paper uses the Luenberger productivity index to evaluate the productivity changes of Greek Life insurance companies between 1994 and 2003, combining operational and financial variables. It is found that the average annual productivity change was about 19% and was due to technological progress, whereas the impact of efficiency was minimal. It seems that deregulation, established by the Third Insurance Directive in 1994, provoked investments in new technologies which were not matched by superior managerial practices. For comparative purposes, a Malmquist productivity index is estimated.

Suggested Citation

  • Carlos Pestana Barrosa & Milton Nektariosb & Nicolas Peypochc, 2009. "A Luenberger Index for the Greek Life Insurance Industry," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 3-18.
    • Handle: RePEc:ers:journl:v:xii:y:2009:i:4:p:3-18
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    References listed on IDEAS

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