Naslov
Performance Persistence in the Insurance Markets - Comparative Analysis of Selected Central and Eastern European Countries
(Comparative Analysis of Selected Central and Eastern European Countries)

Autori
Pavić Kramarić, Tomislava ; Milun, Toni

Izvornik
International review of management and business research (2307-5953) 3 (2014), 1; 12-23

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

Ključne riječi
insurance markets ; Central and Eastern European Countries ; performance persistence

Sažetak
In our paper we analyse the performance persistence of the insurance companies operating in the insurance markets of the selected Eastern and Central European countries, i.e. Croatia, Slovenia, Hungary and Poland in the 1998-2011 period. In this paper persistence in performance refers to the ability of an insurance company to achieve the growth rate for two consecutive years above the median, compared to other insurance companies in the market. The contingency table approach is used to identify the number of insurance companies that are labelled as winners or losers over the consecutive periods. Several methods were used such as Malkiel’s Z-test, Brown and Goetzmann Z-test, -statistics by Kahn and Rudd, Cochran method and Kruskal-Wallis analysis of variance. The empirical analysis shows that there is persistence in performance of insurance companies in particular periods. More specifically, depending on the tests applied, in all countries there were consecutive periods with performance persistence as well as consecutive periods with no proof of persistence in performance. The long-term analysis indicates that the longest period of maintaining the same status of either winner or loser was recorded for insurance companies in Croatia, and the shortest in Hungary. Long-term analysis didn’t show any statistically significant difference in performance persistence among countries.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA