Naslov
Firm and Economic Factors and Performance: Croatian Composite Insurers

Autori
Ćurak, Marijana ; Pepur, Sandra ; Poposki, Klime

Izvornik
The business review, Cambridge (1553-5827) 19 (2011), 1; 136-142

Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, znanstveni

Ključne riječi
Determinants of performance ; composite insurers ; panel analysis

Sažetak
The paper investigates key factors that determine the financial performance of composite insurance companies in Croatia during the period 2004 to 2009. The chosen explanatory variables, taken into account as determinants of the insurers’ profitability, include both firm-specific (internal) and economic (external) characteristics. The results of the panel data analysis applied indicate that size, underwriting risk, inflation and equity returns have significant impact on the insurers’ ROA as a profitability measure. The paper extends prior research and contributes to the literature in two ways. First, to the best of authors’ knowledge, it is the first research performed on the composite (both life and non life) insurance companies that represent the largest segment among total insurers in Croatia. Second, the study provides insight into the impact of the several firm and economic specific characteristics that have not yet been examined in the context of the insurers’ profitability in Croatia.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA