Competition and Efficiency of Takaful and Conventional Insurance Markets in Gulf Cooperation Council (GCC) Countries

Conventional has been in existence for many centuries so it is deeply rooted thus it benefits from operational experience it has been through whereas Takaful is of a recent origin with facing issues related to efficiency performance. Thus, the objective of this study is to analyse degree of competit...

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Main Author:	Asif, Ahmed
Format:	Thesis
Language:	English
Published:	2021
Subjects:	HG Finance
Online Access:	http://ir.unimas.my/id/eprint/37830/4/Asif%20Ahmed.pdf
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id	my-unimas-ir.37830
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spelling	my-unimas-ir.378302024-02-19T06:33:12Z Competition and Efficiency of Takaful and Conventional Insurance Markets in Gulf Cooperation Council (GCC) Countries 2021-01-31 Asif, Ahmed HG Finance Conventional has been in existence for many centuries so it is deeply rooted thus it benefits from operational experience it has been through whereas Takaful is of a recent origin with facing issues related to efficiency performance. Thus, the objective of this study is to analyse degree of competition, efficiency performance and finally the relationship between efficiency and competition for Takaful and conventional in Gulf Cooperation Council (GCC) countries for the period 2015 to 2019 by using an unbalanced set of 140 Takaful and conventional companies. Lerner index employed for measure market power represents degree of competition level and Data Envelopment Analysis (DEA) were used to estimate the efficiency level. Granger test employed to examine the causality between efficiency and competition. The empirical results show that Takaful firms are equally efficient compared to conventional firms. The Takaful when compared to conventional is highly technical and pure technical efficient however it’s moderately cost efficient and there is a large opportunity for improvement. In nutshell, Technical Efficiency correlated with Lerner Index and Lerner Index associated with Allocative Efficiency in long run for Takaful firms while conventional firms Lerner Index related with Allocative Efficiency and Scale Efficiency in long run. Universiti Malaysia Sarawak (UNIMAS) 2021-01 Thesis http://ir.unimas.my/id/eprint/37830/ http://ir.unimas.my/id/eprint/37830/4/Asif%20Ahmed.pdf text en validuser phd doctoral Universiti Malaysia Sarawak (UNIMAS) Faculty of Economics and Business
institution	Universiti Malaysia Sarawak
collection	UNIMAS Institutional Repository
language	English
topic	HG Finance
spellingShingle	HG Finance Asif, Ahmed Competition and Efficiency of Takaful and Conventional Insurance Markets in Gulf Cooperation Council (GCC) Countries
description	Conventional has been in existence for many centuries so it is deeply rooted thus it benefits from operational experience it has been through whereas Takaful is of a recent origin with facing issues related to efficiency performance. Thus, the objective of this study is to analyse degree of competition, efficiency performance and finally the relationship between efficiency and competition for Takaful and conventional in Gulf Cooperation Council (GCC) countries for the period 2015 to 2019 by using an unbalanced set of 140 Takaful and conventional companies. Lerner index employed for measure market power represents degree of competition level and Data Envelopment Analysis (DEA) were used to estimate the efficiency level. Granger test employed to examine the causality between efficiency and competition. The empirical results show that Takaful firms are equally efficient compared to conventional firms. The Takaful when compared to conventional is highly technical and pure technical efficient however it’s moderately cost efficient and there is a large opportunity for improvement. In nutshell, Technical Efficiency correlated with Lerner Index and Lerner Index associated with Allocative Efficiency in long run for Takaful firms while conventional firms Lerner Index related with Allocative Efficiency and Scale Efficiency in long run.
format	Thesis
qualification_name	Doctor of Philosophy (PhD.)
qualification_level	Doctorate
author	Asif, Ahmed
author_facet	Asif, Ahmed
author_sort	Asif, Ahmed
title	Competition and Efficiency of Takaful and Conventional Insurance Markets in Gulf Cooperation Council (GCC) Countries
title_short	Competition and Efficiency of Takaful and Conventional Insurance Markets in Gulf Cooperation Council (GCC) Countries
title_full	Competition and Efficiency of Takaful and Conventional Insurance Markets in Gulf Cooperation Council (GCC) Countries
title_fullStr	Competition and Efficiency of Takaful and Conventional Insurance Markets in Gulf Cooperation Council (GCC) Countries
title_full_unstemmed	Competition and Efficiency of Takaful and Conventional Insurance Markets in Gulf Cooperation Council (GCC) Countries
title_sort	competition and efficiency of takaful and conventional insurance markets in gulf cooperation council (gcc) countries
granting_institution	Universiti Malaysia Sarawak (UNIMAS)
granting_department	Faculty of Economics and Business
publishDate	2021
url	http://ir.unimas.my/id/eprint/37830/4/Asif%20Ahmed.pdf
_version_	1794023029785755648

Competition and Efficiency of Takaful and Conventional Insurance Markets in Gulf Cooperation Council (GCC) Countries

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