A Case of the Tortoise Versus the Hare? Deregulation Process, Timing, and Firm Performance in Emerging Markets
The objective of this paper is to examine the relationships between the pace of insurance industry deregulation, the time since the process of deregulation began, and insurance firm performance in emerging markets. Also examined are performance differences between foreign and local insurers. These r...
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| Format: | Journal Article |
| Language: | EN |
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2012
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| Online Access: | http://hdl.handle.net/10986/5307 |
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okr-10986-53072021-04-23T14:02:21Z A Case of the Tortoise Versus the Hare? Deregulation Process, Timing, and Firm Performance in Emerging Markets Oetzel, J. M. Banerjee, S. G. The objective of this paper is to examine the relationships between the pace of insurance industry deregulation, the time since the process of deregulation began, and insurance firm performance in emerging markets. Also examined are performance differences between foreign and local insurers. These relationships are examined across different country and regional contexts using a time-series cross-section data set including 383 companies in 31 emerging market countries between the years 1998 and 2003. Results of the analysis suggest that regional differences in the pace of deregulation are significantly related to firm performance. Specifically, firms located in countries that took a rapid approach to insurance deregulation had significantly lower performance than firms in countries where the process was slower and more deliberate. Further, the longer the time since insurance sector deregulation began, the lower the financial performance for all firms. Foreign firms did not have significantly higher performance than local insurers indicating that, at least in this sample and time period, foreign firms do not seem to have a competitive advantage over local firms post-deregulation. (C) 2007 Elsevier Ltd. All rights reserved. 2012-03-30T07:32:14Z 2012-03-30T07:32:14Z 2008 Journal Article International Business Review 0969-5931 http://hdl.handle.net/10986/5307 EN http://creativecommons.org/licenses/by-nc-nd/3.0/igo World Bank Journal Article |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
EN |
| relation |
http://creativecommons.org/licenses/by-nc-nd/3.0/igo |
| description |
The objective of this paper is to examine the relationships between the pace of insurance industry deregulation, the time since the process of deregulation began, and insurance firm performance in emerging markets. Also examined are performance differences between foreign and local insurers. These relationships are examined across different country and regional contexts using a time-series cross-section data set including 383 companies in 31 emerging market countries between the years 1998 and 2003. Results of the analysis suggest that regional differences in the pace of deregulation are significantly related to firm performance. Specifically, firms located in countries that took a rapid approach to insurance deregulation had significantly lower performance than firms in countries where the process was slower and more deliberate. Further, the longer the time since insurance sector deregulation began, the lower the financial performance for all firms. Foreign firms did not have significantly higher performance than local insurers indicating that, at least in this sample and time period, foreign firms do not seem to have a competitive advantage over local firms post-deregulation. (C) 2007 Elsevier Ltd. All rights reserved. |
| format |
Journal Article |
| author |
Oetzel, J. M. Banerjee, S. G. |
| spellingShingle |
Oetzel, J. M. Banerjee, S. G. A Case of the Tortoise Versus the Hare? Deregulation Process, Timing, and Firm Performance in Emerging Markets |
| author_facet |
Oetzel, J. M. Banerjee, S. G. |
| author_sort |
Oetzel, J. M. |
| title |
A Case of the Tortoise Versus the Hare? Deregulation Process, Timing, and Firm Performance in Emerging Markets |
| title_short |
A Case of the Tortoise Versus the Hare? Deregulation Process, Timing, and Firm Performance in Emerging Markets |
| title_full |
A Case of the Tortoise Versus the Hare? Deregulation Process, Timing, and Firm Performance in Emerging Markets |
| title_fullStr |
A Case of the Tortoise Versus the Hare? Deregulation Process, Timing, and Firm Performance in Emerging Markets |
| title_full_unstemmed |
A Case of the Tortoise Versus the Hare? Deregulation Process, Timing, and Firm Performance in Emerging Markets |
| title_sort |
case of the tortoise versus the hare? deregulation process, timing, and firm performance in emerging markets |
| publishDate |
2012 |
| url |
http://hdl.handle.net/10986/5307 |
| _version_ |
1764394612349206528 |