ABSTRACT

Our study focused on the link between intellectual capital efficiency (ICE) and its individual components and underwriting risk. It examined the effect of ICE, and structural (SCE) and human capital (HCE) efficiency on the underwriting risk of Ghanaian life and non-life insurers. It used panel data of 31 insurance firms in Ghana, of which 14 and 17 were life and non-life insurers, respectively, from 2008 to 2019. A generalized least squares estimation technique was used to examine the relationship between ICE and underwriting risk in life, non-life, and the entire insurance sector. The results suggest that there is a significant negative relationship between HCE and underwriting risk in the Ghanaian insurance sector. However, there was no relationship between ICE and underwriting risk and between SCE and underwriting risk. As the first to examine ICE and risk-taking behavior in any African country, our study is significant in managerial decision-making and insurance policy formulation to reduce risk in the insurance industry.

摘要

我们的研究重点是智力资本效率（ICE）及其各个组成部分与承保风险之间的联系。它研究了 ICE 以及结构（SCE）和人力资本（HCE）效率对加纳人寿和非人寿保险公司承保风险的影响。它使用了 2008 年至 2019 年加纳 31 家保险公司的面板数据，其中分别有 14 家和 17 家是寿险和非寿险保险公司。采用广义最小二乘估计技术来研究 ICE 与寿险承保风险之间的关系、非寿险以及整个保险行业。结果表明，HCE 与加纳保险业的承保风险之间存在显着的负相关关系。然而，ICE 和承保风险之间以及 SCE 和承保风险之间没有关系。