English, Article, Journal or magazine article edition: Conglomeration Versus Strategic Focus: Evidence from the Insurance Industry Allen N. Berger; J. David Cummins; Mary A. Weiss; ...

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Bookmark: http://trove.nla.gov.au/version/190271
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Conglomeration Versus Strategic Focus: Evidence from the Insurance Industry
Author
  • Allen N. Berger
  • J. David Cummins
  • Mary A. Weiss
  • Hongmin Zi
Physical Description
  • preprint
Notes
  • We use data on U.S. insurance companies to examine the validity of the conglomeration hypothesis versus the strategic focus hypothesis for financial institutions. We distinguish between the hypotheses using profit scope economies, which measures the relative efficiency of joint versus specialized production, taking both costs and revenues into account. The results suggest that the conglomeration hypothesis dominates for some types of financial service providers and the strategic focus hypothesis dominates for other types. This may explain the empirical puzzle of why joint producers and specialists both appear to be competitively viable in the long run.
  • Insurance industry ; Financial services industry ; Consolidation and merger of corporations
  • RePEc:fip:fedgfe:1999-40
  • We provide evidence on the validity of the conglomeration hypothesis versus the strategic focus hypothesis for financial institutions using data on U.S. insurance companies. We distinguish between the hypotheses using profit scope economies, which measures the relative efficiency of joint versus specialized production, taking both costs and revenues into account. The results suggest that the conglomeration hypothesis dominates for some types of financial service providers and the strategic focus hypothesis dominates for other types. This may explain the empirical puzzle of why joint producers and specialists both appear to be competitively viable in the long run.
  • RePEc:wop:pennin:99-29
Language
  • English
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