Publication Preview Source Estimating the Total Productivity Growth of Insurance Companies Listed in the Iraqi Stock Exchange

Abstract

The study aimed to measure the growth of total productivity in the insurance companies listed in the Iraqi Stock Exchange for the period 2005-2014. By employing the Malmquist total productivity index, which is widely used to estimate total factor productivity, which consists of two parts, the first is technological change and the second is due to the technical efficiency change. The study sample included five insurance companies listed in the Iraqi Stock Exchange for the period (2005-2014). The data for the study was obtained from the Iraqi Stock Exchange website. The results showed that there was a negative growth of Iraqi insurance companies during the studied period and the negative growth rate reached 15% according to the Malmquist total productivity index. This negative growth is due to the decrease in productivity growth by 21% and the decline of technological development by 11%, although two companies registered a positive growth according to the index, but the general average shows the weak performance of insurance companies and the decline in their financial role during the period of study, which may be due to the weakness of financial depth and shallowness in Iraq.