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Economies of scale and scope in the Finnish non-life insurance industry
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UNSPECIFIED (1997) Economies of scale and scope in the Finnish non-life insurance industry. JOURNAL OF BANKING & FINANCE, 21 (6). pp. 759-779. ISSN 0378-4266.
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Abstract
Economies of scale and scope in Finnish non-life insurance are studied. The production process is separated into cost and portfolio management functions. Firms expand their branch network to either gain market power or informational advantages. There are diseconomies of scale at firm and economies of scale at branch level, and economies of scope in production. Large firms in the non-life insurance industry pay a substantial premium to gain market power via branch networks. The retained premiums-curve of portfolio management is U-shaped and a positive function of the number of branches. (C) 1997 Elsevier Science B.V.
| Item Type: | Journal Article | ||||
|---|---|---|---|---|---|
| Subjects: | H Social Sciences > HG Finance H Social Sciences > HC Economic History and Conditions |
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| Journal or Publication Title: | JOURNAL OF BANKING & FINANCE | ||||
| Publisher: | ELSEVIER SCIENCE BV | ||||
| ISSN: | 0378-4266 | ||||
| Official Date: | June 1997 | ||||
| Dates: |
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| Volume: | 21 | ||||
| Number: | 6 | ||||
| Number of Pages: | 21 | ||||
| Page Range: | pp. 759-779 | ||||
| Publication Status: | Published |
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