Relative Efficiency and Productivity of Life Insurance Industry to Pre and Post-execution of Capital Market Law

자본시장법 시행 전·후 생명보험 산업의 상대적 효율성 및 생산성

  • Received : 2014.05.09
  • Accepted : 2014.05.26
  • Published : 2014.08.28


Purposes of this study are to find difference in efficiency, productivity change and determinants on efficiency of life insurance industry between pre and post-execution of capital market law on the basis of pre(2005-2008) and post-execution(2009-2012) data. Main results of this research are as follows. First, there was no significant difference of mean value for efficiency between pre and post execution of capital market law. Second, difference of mean value for malmquist index between pre and post execution of capital market law was statistically significant at 5% level. This imply increase in productivity for post-execution of capital market law. Third, one of the important determinant for efficiency was the weight of life planner in both pre and post-execution of capital market law. The weight of life planner had significant positive effect on efficiency.


Capital Market Law;Life Insurance;Efficiency;Productivity Change


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