Search results

1 – 10 of 72
To view the access options for this content please click here
Article
Publication date: 6 January 2021

Ashiq Mohd Ilyas and S. Rajasekaran

This paper aims to measure the change and the sources of change in total factor productivity (TFP) of the Indian non-life insurance sector over the period 2005–2016.

Abstract

Purpose

This paper aims to measure the change and the sources of change in total factor productivity (TFP) of the Indian non-life insurance sector over the period 2005–2016.

Design/methodology/approach

This study employs the bootstrapped Malmquist index (MI) to assess the changes in the TFP and adopts a decomposition approach proposed by Balk and Zofío (2018). Moreover, it utilises truncated regression to identify the determinants of the TFP. In addition, it employs Wilcoxon-W test and t-test to scrutinise the difference between the state-owned and the private insurers in terms of variations in TFP and its various components.

Findings

The results divulge a miniature improvement in TFP of the insurance sector, which is primarily attributable to the improvement in scale efficiency (economies of scale). The results also reveal that there are no significant TFP differences across the ownership. However, private insurers have better scale efficiency and lower input-mix efficiency than state-owned insurers. In addition, the results unveil that size, diversification and reinsurance have a negative impact on the TFP, while age has a positive impact on it.

Practical implications

The results may help the policymakers to frame new consolidation policies. Moreover, the findings may guide the decision-makers of the Indian non-life insurance companies to abate inefficiency and improve TFP.

Originality/value

This study estimates bias-corrected changes in TFP and efficiency in the non-life insurance sector. Moreover, it adopts an elaborated decomposition of the MI to identify the true sources of change in the TFP.

Details

International Journal of Emerging Markets, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1746-8809

Keywords

To view the access options for this content please click here
Article
Publication date: 25 October 2019

Ashiq Mohd Ilyas and S. Rajasekaran

The purpose of this paper is to analyse the performance of the Indian non-life (general) insurance sector in terms of total factor productivity (TFP) over the period 2005–2016.

Abstract

Purpose

The purpose of this paper is to analyse the performance of the Indian non-life (general) insurance sector in terms of total factor productivity (TFP) over the period 2005–2016.

Design/methodology/approach

This study utilises Färe‒Primont index (FPI) to access the change in TFP and its components: technical change, technical efficiency and mix and scale efficiency over the observation period. Moreover, it employs the Mann–Whitney U-test to scrutinise the difference between the public and the private insurers in terms of growth in productivity.

Findings

The results reveal that the insurance sector possesses a very low level of TFP. Also, the results divulge an improvement of 11.98 per cent in TFP of the insurance sector at an annual average rate of 12.41 per cent over the observation period. The growth in productivity is mainly attributable to the improvement of 10.81 per cent in the scale‒mix efficiency. The progress in scale‒mix efficiency is mainly the result of improvements in residual scale and residual mix efficiency. The results also show that the privately owned insurers have experienced a high productivity growth rate than the state-owned insurers.

Practical implications

The results hold practical implications for the regulators, policymakers and decision makers of the Indian non-life insurance companies.

Originality/value

This study is the first of its kind to use FPI, which satisfies all economically relevant axioms and tests defined by the index number theory to comprehensively access the change in TFP of the Indian non-life insurance sector.

Details

International Journal of Productivity and Performance Management, vol. 69 no. 4
Type: Research Article
ISSN: 1741-0401

Keywords

To view the access options for this content please click here
Article
Publication date: 21 June 2019

Ashiq Mohd Ilyas and S. Rajasekaran

The purpose of this paper is to analyse the performance of the Indian non-life (general) insurance sector in terms of efficiency, productivity and returns-to-scale…

Abstract

Purpose

The purpose of this paper is to analyse the performance of the Indian non-life (general) insurance sector in terms of efficiency, productivity and returns-to-scale economies. In addition to this, it identifies the determinants of efficiency.

Design/methodology/approach

This study employs a two-stage data envelopment analysis (DEA) bootstrap approach to estimate the level and determinants of efficiency. In the first stage, the DEA bootstrap approach is employed to estimate bias-corrected efficiency scores. In the second stage, the truncated bootstrapped regression is used to identify the effect of firm-level characteristics on the efficiency of insurers. Moreover, the bootstrapped Malmquist index is used to examine the productivity growth over the observation period 2005–2016.

Findings

The bootstrapped DEA results show that the Indian non-life insurance sector is moderately technical, scale, cost and allocative efficient, and there is a large opportunity for improvement. Moreover, the results reveal that the public insurers are more cost efficient than the private insurers. It is also evident that all the insurers irrespective of size and ownership type are operating under increasing returns to scale. Malmquist index results divulge an improvement in productivity of insurers, which is attributable to the employment of the best available technology. Bootstrapped DEA and bootstrapped Malmquist index results also show that the global financial crisis of 2008 has not severely affected the efficiency and productivity of the Indian non-life insurance sector. The truncated regression results spell that size and reinsurance have a statistically significant negative relationship with efficiency. It also shows a statistically significant positive age–efficiency relationship.

Practical implications

The results hold practical implications for the regulators, policy makers, practitioners and decision makers of the Indian non-life insurance companies.

Originality/value

This study is the first of its kind that comprehensively investigates different types of robust efficiency measures, determinants of efficiency, productivity growth and returns-to-scale economies in the Indian non-life insurance market for an extended time period.

Details

Benchmarking: An International Journal, vol. 26 no. 7
Type: Research Article
ISSN: 1463-5771

Keywords

To view the access options for this content please click here
Article
Publication date: 1 June 1997

Jaroslav Mackerle

Gives a bibliographical review of the finite element methods (FEMs) applied for the linear and nonlinear, static and dynamic analyses of basic structural elements from the…

Downloads
5233

Abstract

Gives a bibliographical review of the finite element methods (FEMs) applied for the linear and nonlinear, static and dynamic analyses of basic structural elements from the theoretical as well as practical points of view. The range of applications of FEMs in this area is wide and cannot be presented in a single paper; therefore aims to give the reader an encyclopaedic view on the subject. The bibliography at the end of the paper contains 2,025 references to papers, conference proceedings and theses/dissertations dealing with the analysis of beams, columns, rods, bars, cables, discs, blades, shafts, membranes, plates and shells that were published in 1992‐1995.

Details

Engineering Computations, vol. 14 no. 4
Type: Research Article
ISSN: 0264-4401

Keywords

To view the access options for this content please click here
Article
Publication date: 9 October 2009

Steven Buchanan and Adeola Salako

System usability and system usefulness are interdependent properties of system interaction, which in combination, determine system satisfaction and usage. Often approached…

Downloads
3707

Abstract

Purpose

System usability and system usefulness are interdependent properties of system interaction, which in combination, determine system satisfaction and usage. Often approached separately, or in the case of digital libraries, often focused upon usability, there is emerging consensus among the research community for their unified treatment and research attention. However, a key challenge is to identify, both respectively and relatively, what to measure and how, compounded by concerns regarding common understanding of usability measures, and associated calls for more valid and complete measures within integrated and comprehensive models. The purpose of this paper is to address this challenge.

Design/methodology/approach

Identified key usability and usefulness attributes and associated measures, compiled an integrated measurement framework, identified a suitable methodological approach for application of the framework, and conducted a pilot study on an interactive search system developed by a Health Service as part of their e‐library service.

Findings

Effectiveness, efficiency, aesthetic appearance, terminology, navigation, and learnability are key attributes of system usability; and relevance, reliability, and currency key attributes of system usefulness. There are shared aspects to several of these attributes, but each is also sufficiently unique to preserve its respective validity. They can be combined as part of a multi‐method approach to system evaluation.

Research limitations/implications

Pilot study has demonstrated that usability and usefulness can be readily combined, and that questionnaire and observation are valid multi‐method approaches, but further research is called for under a variety of conditions, with further combinations of methods, and larger samples.

Originality/value

This paper provides an integrated measurement framework, derived from the goal, question, metric paradigm, which provides a relatively comprehensive and representative set of system usability and system usefulness attributes and associated measures, which could be adapted and further refined on a case‐by‐case basis.

Details

Library Review, vol. 58 no. 9
Type: Research Article
ISSN: 0024-2535

Keywords

To view the access options for this content please click here
Article
Publication date: 16 January 2017

Esraa Saleh Abdel-All, Matthew Charles Frank and Iris Violeta Rivero

This paper aims to present a friction stir molding (FSM) method for the rapid manufacturing of metal tooling. The method uses additive and subtractive techniques to…

Abstract

Purpose

This paper aims to present a friction stir molding (FSM) method for the rapid manufacturing of metal tooling. The method uses additive and subtractive techniques to sequentially friction stir bond and then mill slabs of metal. Mold tooling is grown in a bottom-up fashion, overcoming machining accessibility problems typically associated with deep cavity tooling.

Design/methodology/approach

To test the feasibility of FSM in building functional molds, a layer addition procedure that combines friction stir spot welding (FSSW) with an initial glue application and clamping for slabs of AA6061-T651 was investigated. Additionally, FSSW parameters and the mechanical behavior of test mold materials, including shear strength and hardness, were studied. Further, scanning electron microscopy (SEM)/elemental map analysis (EDS) of the spot weld zones was carried out to understand the effect of FSSW on the glue materials and to study potential mixing of glue with the plate materials in the welded zone.

Findings

The results indicate that FSM provides good layer stacking without gaps when slabs are pre-processed through sand blasting, moistening, uniform clamping and FSSW using a tapered pin tool. The tensile shear strength results revealed that the welded spots were able to withstand cutting forces during machining stages; however, FSSW was found to cause hardness reduction among spot zones because of over-aging. The SEM/EDS results showed that glue was not mixed with slab materials in spot zones. The proposed process was able to build a test tooling sample successfully using AA6061-T651 plates welded and machined on a three-axis computer numerical control (CNC) mill.

Originality/value

The proposed FSM process is a new process presented by the authors, developed for the rapid manufacturing of metal tooling. The method uses additive and subtractive techniques to sequentially friction stir bond and then mill slabs of metal. The use of FSSW process for materials addition is an original contribution that enables automatic process planning for this new process.

Details

Rapid Prototyping Journal, vol. 23 no. 1
Type: Research Article
ISSN: 1355-2546

Keywords

To view the access options for this content please click here
Article
Publication date: 26 September 2019

Goldina Ghosh, C.B. Akki and Nivedita Kasturi

The purpose of this study is data generated from any social networking sites may provide some hidden knowledge on a particular domain. Based on this concept the previous…

Abstract

Purpose

The purpose of this study is data generated from any social networking sites may provide some hidden knowledge on a particular domain. Based on this concept the previous paper had proved that social connectivity enhancement takes place through triadic closure and embeddedness in terms of social network graph-theoretic approach. Further, the work was justified by genetic algorithm (GA) where observation showed how interdisciplinary work can occur because of crossover, and therefore, different groups of researchers could be identified. Further enhancement of the work has been focused on in this paper.

Design/methodology/approach

In continuation with the previous work, this paper detects other possible fields related to “high graded researchers” who can share the information with the other group of researchers (“imminent high graded” and “new researchers”) using particle swarm optimization (PSO) technique.

Findings

While exploitation was done using GA in the previous work, exploration is done in the current work based on PSO using the same grade score value to the objective function. Both the velocity and direction of high graded researchers in this extended work could be derived, which was not possible using GA.

Originality/value

This could help the next two levels of researchers (“imminent high graded researchers” and “new researchers”) in expanding their research fields in line with the fields of high graded researchers.

Details

Kybernetes, vol. 49 no. 6
Type: Research Article
ISSN: 0368-492X

Keywords

To view the access options for this content please click here
Article
Publication date: 8 April 2021

Anurag Bhadur Singh and Priyanka Tandon

The present study tries to explore the various fund attributes that influence the mutual fund performance. Further, study examined the effect of mutual fund attributes…

Abstract

Purpose

The present study tries to explore the various fund attributes that influence the mutual fund performance. Further, study examined the effect of mutual fund attributes namely, Net Asset Value (NAV), Portfolio turnover ratio (PTR), fund size (AUM), expense ratio (ExpR) and fund age (Age) on mutual fund's performance using gross return and risk-adjusted performance measures.

Design/methodology/approach

The study evaluated balanced panel data (short panel) comprising 81 Indian equity mutual fund schemes for the period of 2013–2019. The study estimated relationship between fund attributes (Net asset value, Portfolio turnover ratio, Fund age, fund size and Expense ratio) and fund performance (using gross return and risk-adjusted performance measures), through panel data regression using fixed-effects model as suggested by Hausman specification test on transformed data (due to high multicollinearity), with cluster-robust estimators due to the presence of heteroskedasticity in the model.

Findings

The findings of the study suggested that using gross return as fund performance measure, PTR, NAV, AUM, Age exhibit significant relationship with the fund performance whereas using risk-adjusted performance measures (Treynor ratio and Jensen alpha) NAV and ExpR significantly influences the fund performance. Identification of the significant relationship between fund characteristics and fund performance offers valuable insights to the investors and fund managers for rationally managing their portfolio with the ultimate objective of the wealth maximization.

Research limitations/implications

The study considered only 81 equity mutual fund schemes. Some of the data were not available at the time of the study due to the policy of the company. The present study contributes significantly in examining the expected association between fund attributes and fund performance in the context of Indian mutual fund industry where this relationship were explored less.

Practical implications

The findings of the present study will help the investors to take the rational investment decision with the ultimate objective of maximum return with minimal risk. The findings also offer significant germane to the stakeholders in making rational decision-making process.

Originality/value

There is dearth of study concerning the relationship between mutual fund characteristics and fund performance with respect to Indian mutual fund industry. Therefore, study provides valuable insights to the area of the portfolio selection and management with respect to Indian mutual funds.

Details

Benchmarking: An International Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1463-5771

Keywords

To view the access options for this content please click here
Article
Publication date: 12 June 2020

Zhiguang Li, Yaokuang Li and Dan Long

From the perspective of cause and effect, the operational processes of property insurance companies can be considered as historical events. The purpose of this study is to…

Downloads
305

Abstract

Purpose

From the perspective of cause and effect, the operational processes of property insurance companies can be considered as historical events. The purpose of this study is to measure the operating efficiency of China's property insurance industry, explore the determinants that affect technical efficiency and outline the path to achieving high-quality development.

Design/methodology/approach

We chose 44 Chinese property insurance companies as research objects. The data were obtained from the Chinese Insurance Yearbook and China Statistical Yearbook 2015–2017. First, the data envelopment analysis (DEA) method was used to calculate the technical efficiency of property insurance companies. Then, Tobit regression and quantile regression were adopted to explore the influencing factors of technical efficiency. Finally, the fuzzy-set qualitative comparative analysis (fsQCA) method was employed to summarize the path to improving the operating efficiency of property insurance companies.

Findings

The empirical results in the first stage suggested that the operation efficiency of China's property insurance industry was technically inefficient, and the scale efficiency was relatively better than the pure technical efficiency. In the second stage, we observed that the drivers for firm size, reinsurance rate, claim ratio and equity restriction were important determinants of an insurance firm's efficiency.

Research limitations/implications

We also put forward four applicable, targeted and proven ways to improve the technical efficiency of property insurance companies. These configurations are verified by cases of existing property insurance companies, which can provide practical references for the insurance industry.

Originality/value

Our research enriches the insurance literature and efficiency methods, particularly regarding the specific paths of improving the technical efficiency. The relationship between elements and results is analyzed from a systematic perspective, and the research results are not only more consistent with what logic might imply but also more instructive for the improvement of reality.

Details

International Journal of Emerging Markets, vol. 16 no. 6
Type: Research Article
ISSN: 1746-8809

Keywords

To view the access options for this content please click here
Article
Publication date: 10 October 2016

Aníbal J.J. Valido and João Barradas Cardoso

The purpose of this paper is to present a design sensitivity analysis continuum formulation for the cross-section properties of thin-walled laminated composite beams…

Abstract

Purpose

The purpose of this paper is to present a design sensitivity analysis continuum formulation for the cross-section properties of thin-walled laminated composite beams. These properties are expressed as integrals based on the cross-section geometry, on the warping functions for torsion, on shear bending and shear warping, and on the individual stiffness of the laminates constituting the cross-section.

Design/methodology/approach

In order to determine its properties, the cross-section geometry is modeled by quadratic isoparametric finite elements. For design sensitivity calculations, the cross-section is modeled throughout design elements to which the element sensitivity equations correspond. Geometrically, the design elements may coincide with the laminates that constitute the cross-section.

Findings

The developed formulation is based on the concept of adjoint system, which suffers a specific adjoint warping for each of the properties depending on warping. The lamina orientation and the laminate thickness are selected as design variables.

Originality/value

The developed formulation can be applied in a unified way to open, closed or hybrid cross-sections.

Details

Multidiscipline Modeling in Materials and Structures, vol. 12 no. 3
Type: Research Article
ISSN: 1573-6105

Keywords

1 – 10 of 72