[
Abidin, Z., Cabanda, E., (2011), Efficiency of Non-Life Insurance in Indonesia, Journal of Economics, Business and Accountancy Ventura, Vol. 14, no. 3, pp. 197-202.
]Search in Google Scholar
[
Acosta, R.S., (2014), Effects of Health Insurance Concentration Market on Insurance Coverage in Colombia, Journal of Competitiveness, Vol. 6, no. 3, pp. 3-19.
]Search in Google Scholar
[
Al Arif, M.N.R., Awwaliyah, T.B., (2019), Market Share, Concentration Ratio, and Profitability: Evidence from Indonesian Islamic Banking Industry, Journal of Central Banking Theory and Practice,Vol. 8, no. 2, pp. 189-201.
]Search in Google Scholar
[
Bain, J., (1951), The Relation of Profit Rate to Industry Concentration, American Manufacturing, 1936-1940, Quarterly Journal of Economics, Vol. 65, no. 3, pp. 293-324.
]Search in Google Scholar
[
Bain, J. (1956): Barriers to New Competition, Harvard University Press, Cambridge, MA.10.4159/harvard.9780674188037
]Search in Google Scholar
[
Baltagi, B. H. (2005): Econometric Analysis of Panel Data, John Wiley & Son, Ltd., West Sussex, England.
]Search in Google Scholar
[
Batool, A., Sahi, A., (2019), Determinants of Financial Performance of Insurance Companies of USA and UK during Global Financial Crisis (2007-2016), International Journal of Accounting Research, Vol. 7, no. 1, pp. 1-9.
]Search in Google Scholar
[
Qekrezi, A., (2015), Determinants of Financial Performance of the Insurance Companies: A Case of Albania, International Journal of Economics, Commerce and Management, Vol. 3, no. 4, pp. 1-10.
]Search in Google Scholar
[
Cummins, J.D., Weiss, M.A., (2000), Analyzing Firm Performance in the Insurance Industry Using Frontier Efficiency and Productivity Methods. In: Dionne G. (eds), Handbook of Insurance. Huebner International Series on Risk, Insurance, and Economic Security, Vol. 22, Springer, Dordrecht.10.1007/978-94-010-0642-2_24
]Search in Google Scholar
[
Demsetz, H., (1973), Industry Structure, Market Rivalry, and Public Policy, Journal of Law and Economics, Vol. 16, no. 1, pp. 1-9.
]Search in Google Scholar
[
Dimic, M., Barjaktarovic, L., Arsenijevic, O., Sprajc, P., Zirovnik, J., (2018), Measuring the Concentration of Insurance sector - the Case of Southeastern European Countries, Organizacija, Vol. 51, no. 1, pp. 50-64.
]Search in Google Scholar
[
Ferguson, P., Ferguson, G. (1994): Industrial Economics: Issues and Perspectives, 2nd edition, The Macmillan Press.10.1007/978-1-349-23306-9
]Search in Google Scholar
[
Gujarati, D.N., Porter, D.C. (2009): Basic Econometrics, McGraw-Hill/Irwin, New York.
]Search in Google Scholar
[
Gwin, C. R., (2001), A Guide for Industry Study and the Analysis of Firms and Competitive Strategy, available online at https://dokumen.tips/documents/a-guide-for-industry-study-and-the-analysis-of-firms-and-competitive-strategypdf.html
]Search in Google Scholar
[
Hay, D.A., Morris, D.J. (1991): Industrial Economics and Organization: Theory and Evidence, Oxford University Press, Oxford.
]Search in Google Scholar
[
Jaloudi, M., Bakir, A., (2019), Market Structure, Efficiency, and Performance of Jordan Insurance Market, International Journal of Business and Economics Research, Vol. 8, no. 1, pp. 6-13.
]Search in Google Scholar
[
Jumono, S., Addurrahman, Mala, C.M.F., (2017), Market Concentration Index and Performance: Evidence from Indonesian Banking Industry, International Journal of Economics and Financial Issues, Vol. 7, no. 2, pp. 249-258.
]Search in Google Scholar
[
Kourtzidis, S., (2020), Investigating the Determinants of Firm Performance: A Qualitative Comparative Analysis of Insurance Companies, European Journal of Management and Business Economics, Vol. 29, no. 1, pp. 3-22.
]Search in Google Scholar
[
Kramaric, T.P., Miletic, M., Pavic, I., (2017), Profitability Determinants of Insurance Markets in Selected Central and Eastern European Countries, International Journal of Economic Sciences, Vol. 6, no. 2, pp. 100-123.
]Search in Google Scholar
[
Kwon, W.J., Wolfram, L., (2016), Analytical Tools for the Insurance Market and Macro-Prudential Surveillance, OECD Journal: Financial Market Trends, 2016, no. 1, pp. 1-47.
]Search in Google Scholar
[
Lelissa, T.B., Kuhil, A.M., (2018), The Structure Conduct Performance Model and Competing Hypothesis- A Review of Literature, Research Journal of Finance and Accounting, Vol. 9, no. 1, pp. 76-89.
]Search in Google Scholar
[
Lipczynski, J., Wilson, J., Goddard, J. (2013): Industrial Organization, Competition, Strategy, and Policy, Second edition, FT Prentice Hall, London.
]Search in Google Scholar
[
Mala, C.M.F., Sugiyanto, Jatmiko, (2019), Analysis of Market Power Hypothesis and Efficiency Hypothesis in ASEAN Banking, Journal of Emerging Issues in Economics, Finance and Banking, Vol. 8, no. 1, pp. 2681-2697.
]Search in Google Scholar
[
Mason, E., (1939), Price and Production Policies of Large-Scale Enterprise, American Economic Review, Vol. 29, no. 1, pp. 61-74.
]Search in Google Scholar
[
Mehari, D., Aemiro, T., (2013), Firm Specific Factors that Determine Insurance Companies’Performance in Ethiopia, European Scientific Journal, Vol. 9, no. 10, pp. 245-255.
]Search in Google Scholar
[
Mohamed, Z., Shamsudin, M., Latif, A., Mu’azu, A., (2013), Measuring Competition along the Supply Chain of the Malaysian Poultry Industry, International Conference on Social Science Research, 4-5 June 2013, Penang, Malaysia.
]Search in Google Scholar
[
Mujiatun, S., Handayani, S., (2018), Effect Of Operational Cost And Operational Revenue On Return On Asset Of Sharia Banking: Case Study On Sharia Business Division Of PT Bank Sumut, International Journal of Scientific & Technology Research, Vol. 7, no. 7, pp. 223-227.
]Search in Google Scholar
[
Neuberger, D., (1997), Structure, Conduct and Performance in Banking Markets, Thuenen-Series of Applied Economic Theory, No 12, University of Rostock, Institute of Economics.
]Search in Google Scholar
[
Omondi, M., Muturi, W., (2013), Factors Affecting the Financial Performance of Listed Companies at the Nairobi Securities Exchange in Kenya, Research Journal of Finance and Accounting, Vol. 4, no. 15, pp. 99-104.
]Search in Google Scholar
[
Onaolapo, A., Kajola, S., (2010), Capital Structure and Firm Performance: Evidence from Nigeria, European Journal of Economics, Finance and Administrative Sciences, No. 25, pp. 70-82.
]Search in Google Scholar
[
Radhika, R., Satuluri, R.K., (2019), Impact of Operating Expenses on Life Insurance Profitability in India, International Journal of Human Resource Management and Research, Vol. 9, no. 1, pp. 53-60.
]Search in Google Scholar
[
Salvatore, D. (1998): International Economics, Sixth Edition, Prentice-Hall.
]Search in Google Scholar
[
Scherer, F. M., Ross, D. (1990): Industrial Market Structure and Economic Performance, 3rd ed., Boston Houghton-Mifflin.
]Search in Google Scholar
[
Shaik, S., Allen, A.J., Edwards, S., Haris, J., (2009), Market Structure Conduct Performance Hypothesis Revisited Using Stochastic Frontier Efficiency Analysis, Journal of the Transportation Research Forum, Vol. 48, no. 3, pp. 5-18.
]Search in Google Scholar
[
Shepherd, W. (1979): The Economics of Industrial Organization, Prentice-Hall, England Cliffs.
]Search in Google Scholar
[
Shepherd, W., Wilcox, C. (1979): Public Policies toward Business, 6th edition, Richard D. Irwin, Inc.
]Search in Google Scholar
[
Sinansari, P., Priyarsono, D.S., Suprayitno, G., (2017), Analysis of Indonesia Banking Structure, International Journal of Science and Research, Vol. 6, no. 7, pp. 809-812.
]Search in Google Scholar
[
Sukpaiboonwat, S., Piputsitee, C., Punyasavatsut, A., (2014), Measuring the Degree of Market Concentration in Thailand Insurance Industry, Asian Social Science, Vol. 10, no. 4, pp. 214-232.
]Search in Google Scholar
[
Susilo, D., Wahyudi, S., Pangestuti, I.R.D., (2020), Profitability Determinants of Manufacturing Firms in Indonesia, International Journal of Economics and Business Administration, Vol. 8, no. 2, pp. 53-64.
]Search in Google Scholar
[
Tucker, B. (2010): Survey of Economics, 7th edition, Cengage South-Western.
]Search in Google Scholar
[
Ullah, S., (2020), Role of Corporate Governance in Bank’s Efficiency in Pakistan, Studies in Business and Economics, Vol. 15, no. 1, pp. 243-258.
]Search in Google Scholar
[
US Department of Justice and the Federal Trade Commission, (2010), Horizontal Merger Guidelines. http://www.justice.gOv/atr/public/guidelines/hmg-2010.html#5b
]Search in Google Scholar
[
Van Hoose, D. (2010): The Industrial Organization of Banking: Bank Behavior, Market Structure, and Regulation, Springer, Berlin.10.1007/978-3-642-02821-2
]Search in Google Scholar
[
Web (source of data):
]Search in Google Scholar
[
www.idx.co.id
]Search in Google Scholar
[
www.ojk.go.id
]Search in Google Scholar
