The Boone Indicator as Determinant of Croatian Insurance Market Soundness

Adams, M. and Buckle, M. 2003. The determinants of corporate financial performance in the Bermuda insurance market. Applied Financial Economics 13 (2): 133-143.10.1080/09603100210105030Search in Google Scholar

Bikker, J. A. 2014. Performance of the life insurance industry under pressure: efficiency, competition and consolidation 1-31., www.uu.nl/rebo/economie/discussionpapers (accessed October 20, 2018).Search in Google Scholar

Bikker, J. A. and Van Leuvensteijn, M. 2008. Competition and efficiency in the Dutch life insurance industry. Applied Economics 40 (16): 2063-2084.10.1080/00036840600949298Search in Google Scholar

Boone, J. 2008. A new way to measure competition. The Economic Journal 118 (531): 1245-1261.10.1111/j.1468-0297.2008.02168.xSearch in Google Scholar

Bourkhis, K. and Nabi, M. S. 2013. Islamic and conventional banks’ soundness during the 2007–2008 financial crisis. Review of Financial Economics 22 (2): 68-77.10.1016/j.rfe.2013.01.001Search in Google Scholar

Chen, R. and Wong, K. A. 2004. The determinants of financial health of Asian insurance companies. Journal of Risk and Insurance 71(3): 469-499.10.1111/j.0022-4367.2004.00099.xSearch in Google Scholar

Chirwa, T. G. and Odhiambo, N. M. 2016. Macroeconomic determinants of economic growth: A review of international literature. South East European Journal of Economics and Business 11(2): 33-47.10.1515/jeb-2016-0009Search in Google Scholar

Croatian Financial Services Supervisory Agency (HANFA), Statistics, https://www.hanfa.hr/publikacije/statistika/#section1 (accessed October 5, 2018).Search in Google Scholar

Croatian Insurance Bureau, Statistical reports, Insurance Market in the Republic of Croatia in 2017, http://www.huo.hr/Listanje_PDF/Trziste_osiguranja_RH_2017/index.html#/0 (accessed October 5, 2018).Search in Google Scholar

Croatian Insurance Bureau, Insurance Market in the Republic of Croatia 2017 – Key Facts, http://www.huo.hr/eng/publications/50/ (accessed June 17, 2019).Search in Google Scholar

Croatian National Bank (HNB), Main macroeconomic indicators, https://www.hnb.hr/en/statistics/main-macroeconomic-indicators (accessed October 5, 2018).Search in Google Scholar

Cummins, J. D. and Nini, G. P. 2002. Optimal capital utilization by financial firms: Evidence from the property-liability insurance industry. Journal of Financial Services Research 21 (1-2): 15-53.10.1023/A:1014369617192Search in Google Scholar

Cummins, J. D. and Rubio-Misas, M. 2006. Deregulation, consolidation, and efficiency: evidence from the Spanish insurance industry. Journal of Money, Credit and Banking 323-355.10.1353/mcb.2006.0029Search in Google Scholar

Cummins, J. D., Rubio-Misas, M. and Vencappa, D. 2017. Competition, efficiency and soundness in European life insurance markets. Journal of Financial Stability 28: 66-78.10.1016/j.jfs.2016.11.007Search in Google Scholar

Cummins, J. D., Rubio-Misas, M. and Zi, H. 2004. The effect of organizational structure on efficiency: Evidence from the Spanish insurance industry. Journal of Banking & Finance 28 (12): 3113-3150.10.1016/j.jbankfin.2004.05.004Search in Google Scholar

Cummins, J. D. and Turchetti, G. 1996. Productivity and technical efficiency in the Italian insurance industry (No. 96-10). Wharton School Center for Financial Institutions, University of Pennsylvania.Search in Google Scholar

Cummins, J., Dionne, G., Gagné, R. and Nouira, A. 2008. The costs and benefits of reinsurance. CIRRELT-2008-26, 1-32., https://www.cirrelt.ca/DocumentsTravail/CIRRELT-2008-26.pdf (accessed November 7, 2018).Search in Google Scholar

Cummins, J. D., Tennyson, S. and Weiss, M. A. 1999. Consolidation and efficiency in the US life insurance industry. Journal of Banking & Finance 23 (2-4): 325-357.10.1016/S0378-4266(98)00089-2Search in Google Scholar

Cummins, J. D., Weiss, M. A. and Zi, H. 1999. Organizational form and efficiency: The coexistence of stock and mutual property-liability insurers. Management Science 45 (9): 1254-1269.10.1287/mnsc.45.9.1254Search in Google Scholar

Demirgüç-Kunt, A. and Detragiache, E. 2011. Basel Core Principles and bank soundness: Does compliance matter?. Journal of Financial Stability 7 (4): 179-190.10.1016/j.jfs.2010.03.003Search in Google Scholar

Demirgüç-Kunt, A. and Detragiache, E. 1998. The determinants of banking crises in developing and developed countries. Staff Papers 45 (1): 81-109.10.2307/3867330Search in Google Scholar

Demirgüç-Kunt, A. and Maksimovic, V. 1999. Institutions, financial markets, and firm debt maturity”, Journal of Financial Economics 54: 295-336.10.1016/S0304-405X(99)00039-2Search in Google Scholar

Demirgüç-Kunt, A. and Huizinga, H. 2010. Bank activity and funding strategies: The impact on risk and returns. Journal of Financial Economics 98 (3): 626-650.10.1016/j.jfineco.2010.06.004Search in Google Scholar

Fenn, P., Vencappa, D., Diacon, S., Klumpes, P. and O’Brien, C. 2008. Market structure and the efficiency of European insurance companies: A stochastic frontier analysis. Journal of Banking & Finance 32 (1): 86-100.10.1016/j.jbankfin.2007.09.005Search in Google Scholar

Fu, X. M., Lin, Y. R. and Molyneux, P. (2014). Bank competition and financial stability in Asia Pacific. Journal of Banking & Finance 38, 64-77.10.1016/j.jbankfin.2013.09.012Search in Google Scholar

Kim, Y. D., Anderson, D. R., Amburgey, T. L. and Hickman, J. C. 1995. The use of event history analysis to examine insurer insolvencies. Journal of Risk and Insurance 94-110.10.2307/253694Search in Google Scholar

Kozak, S. 2011. Determinants of profitability of non-life insurance companies in Poland during integration with the European financial system. Electronic Journal of Polish Agricultural Universities 14 (1): 1-9.Search in Google Scholar

Laeven, L. and Levine, R. 2009. Bank governance, regulation and risk taking. Journal of financial economics 93 (2): 259-275.10.1016/j.jfineco.2008.09.003Search in Google Scholar

Mahlberg, B. and Url, T. 2003. Effects of the single market on the Austrian insurance industry. Empirical Economics 28 (4): 813-838.10.1007/s00181-003-0164-6Search in Google Scholar

Majumdar, S. K. 1997. The impact of size and age on firm-level performance: some evidence from India. Review of industrial organization 12 (2): 231-241.10.1023/A:1007766324749Search in Google Scholar

Medved, D. and Kavčič, S. 2012. An Empirical Study of Efficiency in Croatia and Slovenia Insurance Markets. Economic research-Ekonomska istraživanja 25 (1): 87-98.10.1080/1331677X.2012.11517496Search in Google Scholar

O’Sullivan, N. and Diacon, S. R. 2003. Board composition and performance in life insurance companies. British Journal of Management 14 (2): 115-129.10.1111/1467-8551.00269Search in Google Scholar

Pasiouras, F. and Gaganis, C. 2013. Regulations and soundness of insurance firms: International evidence. Journal of Business Research 66 (5): 632-642.10.1016/j.jbusres.2012.09.023Search in Google Scholar

Rubio-Misas, M. and Fernández-Moreno, M. 2017. Solvency surveillance and financial crisis: evidence from the Spanish insurance industry. Spanish Journal of Finance and Accounting/Revista Española de Financiación y Contabilidad 46 (3): 272-297.10.1080/02102412.2017.1291167Search in Google Scholar

Schaeck, K. and Cihák, M. 2014. Competition, efficiency, and stability in banking. Financial Management 43 (1): 215-241.10.1111/fima.12010Search in Google Scholar

Shim, J. 2011. Mergers & acquisitions, diversification and performance in the US property-liability insurance industry. Journal of Financial Services Research 39 (3): 119-144.10.1007/s10693-010-0094-3Search in Google Scholar

Shim, J. 2015. An investigation of market concentration and financial stability in property–liability insurance industry. The Journal of Risk and Insurance 84 (2): 567-597.10.1111/jori.12091Search in Google Scholar

Shiu, Y. 2004. Determinants of United Kingdom general insurance company performance. British Actuarial Journal 10 (5): 1079-1110.10.1017/S1357321700002968Search in Google Scholar

Stiroh, K. J. and Rumble, A. 2006. The dark side of diversification: The case of US financial holding companies. Journal of Banking & Finance 30 (8): 2131-2161.10.1016/j.jbankfin.2005.04.030Search in Google Scholar

Šebjan, U. and Tominc, P. 2015. Conceptual model of relationships among customer perceptions of components of insurance companies. South East European Journal of Economics and Business 10 (1): 32-44.10.1515/jeb-2015-0002Search in Google Scholar

Van Leuvensteijn, M., Bikker, J. A., Van Rixtel, A. A. and Sørensen, C. K. 2011. A new approach to measuring competition in the loan markets of the euro area. Applied Economics 43 (23): 3155-3167.10.1080/00036840903493234Search in Google Scholar

Wang, J. L., Jeng, V. and Peng, J. L. 2007. The impact of corporate governance structure on the efficiency performance of insurance companies in Taiwan. The Geneva Papers on Risk and Insurance-Issues and Practice 32 (2): 264-282.10.1057/palgrave.gpp.2510125Search in Google Scholar

Weiss, M. A. and Choi, B. P. (2008). State regulation and the structure, conduct, efficiency and performance of US auto insurers. Journal of Banking & Finance 32 (1): 134-156.10.1016/j.jbankfin.2007.09.010Search in Google Scholar