Research Article
A Two-Stage DEA to Analyze the Effect of Entrance Deregulation on Iranian Insurers: A Robust Approach
Table 5
Second stage—Generalized estimating equations models that capture the most important factors explaining the efficiency score for robust DEA.
| Predictors | Models | Model 1 | Model 2 | Model 3 | Model 4 | | Hypothesis Test-Sig. | | Hypothesis Test-Sig. | | Hypothesis Test-Sig. | | Hypothesis Test-Sig. |
| (Intercept) | .681 | .006 | .681 | .005 | .779 | .000 | 1.141 | .000 | Private | −.367 | .000 | −.370 | .000 | −.352 | .000 | −.402 | .000 | Stock | .118 | .143 | .118 | .138 | — | — | — | — | Big | .165 | .193 | .172 | .129 | .178 | .093 | — | — | Marketshare | .001 | .751 | — | — | — | — | — | — | Capitalstructure | .007 | .003 | .007 | .003 | .006 | .004 | .005 | .005 | PrmtoSrp | .018 | .000 | .018 | .000 | .017 | .000 | .017 | .000 | QICa | 46.367 | 44.537 | 41.933 | 35.142 | QICCa | 25.739 | 23.785 | 21.424 | 19.649 | Residual normal testb Asymp. Sig. (2-tailed) | | | | | | | .224 |
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aComputed using the full log quasilikelihood function.
bBeing normal is not rejected at 5% level if the statistic is more than 0.05.
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