Efficiency studies relating to the Indian life insurance companies have so far used static one-period data envelopment analysis (DEA) models for the purpose of comparison of performance. A major weakness of the static framework is that the efficiency results are not inter-temporally comparable. In order to overcome this problem, the present study uses a dynamic slacks-based DEA model proposed by Tone and Tsutsui (2010) for performance evaluation of 15 in-sample life insurance companies for a seven-year period (2005–2006 to 2011–2012). The unique selling point (USP) of the present approach is that unlike the conventional static DEA models, the present framework, by using a link variable, connects the observed years and thereby creates a common benchmark. The results reveal significant fluctuations in mean technical efficiency over the period of observation.
The present study uses robust data envelopment analysis to estimate the performance of 30 Indian microfinance institutions (MFIs) from 2008–2009 to 2015–2016. Due to the non-availability of information in some instances, the present study uses an unbalanced panel of observations. In the matter of evaluation of performance, the study makes a major departure from the extant studies undertaken in the Indian context and adopts a double bootstrap approach originally suggested by Simar and Wilson. The current approach thus evaluates conditional performance of the in-sample MFIs in the presence of capital-to-asset ratio as an environmental variable. The two-stage estimation also involved the estimation of the influence of capital-to-asset ratio on the reciprocal of efficiency scores, and contrary to the expectations, the relationship was found to be positive.
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