Effects of risk management on cost efficiency and cost function of the U.S. Property and Liability Insurers

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      <subfield code="a">Effects of risk management on cost efficiency and cost function of the U.S. Property and Liability Insurers</subfield>
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      <subfield code="a">This paperpts the one-step stochastic frotntier approach to investigate the impact of risk management tools of derivatives and reinsurance on cost efficency of U.S. property -liability insurance companies. The stochastic frontier approacha considers both the mean and variance of cost efficency. The sample includes both stock and mutual insurers. Among the findings, the cost function of the entire sample carries the concavity feature, and insurers tend to use financial derivatives for firm value creation</subfield>
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