Margin Ratio Research Articles

Propensity score matching for estimating a marginal hazard ratio.

Propensity score matching is commonly used to draw causal inference from observational survival data. However, its asymptotic properties have yet to be established, and variance estimation is still open to debate. We derive the statistical properties of the propensity score matching estimator of the marginal causal hazard ratio based on matching with replacement and a fixed number of matches. We also propose a double-resampling technique for variance estimation that takes into account the uncertainty due to propensity score estimation prior to matching.

Economic Impact Analysis of Value Chain Development Programme (VCDP) on Net Farm Income of Rice Farmers in Niger State, Nigeria

This study evaluated economic impact analysis of VCDP on net farm income (NFI) of rice farmers in Niger State, Nigeria. Primary data were used. A multi-stage sampling technique was used to select a total sample size of 292 rice farmers which comprised of 155 value chain development program beneficiaries and 137 non- beneficiaries. Data were analyzed using descriptive statistics, gross margin analysis, multiple regression analysis, difference-in-difference method (DD), propensity score matching (PSM), principal component analysis, F-Chow test, and t-test. The gross margin ratio for VCDP beneficiaries and non-beneficiaries was 88% and 71%. Rice production was profitable. The result of the difference-in-difference regression analysis showed that treatment (P< 0.10), period (P< 0.01), interaction (P< 0.10), level of educational (P< 0.10), and farm experience (P< 0.10), were statistically significant variables influencing the net farm income of rice farmers in the study area. The results of PSM show that the coefficient of Average Treatment Effect for all matching algorithms for net farm income of rice farmers such as nearest neighbor, radius, kernel, and stratification were significant at (P< 0.01). The F-Chow test conducted for difference between NFI of participant and non-participant of VCDP was statistical significant. This shows that VCDP impacted positively on NFI of rice farmers. The study recommends that low-interest loans should be made available to rice farmers to increase income.

MICRO-EVIDENCE FROM BUSINESSES OPERATING IN THE BIST TECHNOLOGY AND INFORMATION SECTOR

Today, technology trade and investment represent a global economy that disregards national boundaries. Within the scope of this study, it is aimed to reveal the effect of whether businesses operating in the technology and IT sector operate in technology zones or not on their financial performance, and customer satisfaction and internationalization levels are examined. The financial statements of 31 businesses listed in Borsa Istanbul (BIST) technology and IT sector for the year 2022 were subjected to ratio analysis. Businesses located in technology development zones and businesses located outside technology development zones were grouped and the results of the ratio analysis were compared with the Mann-Whitney U test. According to the findings, no difference was found between the businesses located in technology development zones and the businesses outside the zone in terms of liquidity ratios, activity ratios, and customer satisfaction. However, a significant difference was found in terms of the ratio of non-current assets to continuing capital among financial structure ratios; a significant difference was found in terms of gross profit margin ratio and operating profit margin ratio among profitability ratios. In terms of internationalization level, it was determined that the businesses located in technology development zones showed superior performance.

Seismic fragility analysis of prefabricated self-centering frame structure

The seismic fragility of prefabricated self-centering frame structures composed of self-centering joints is investigated for reference in their seismic design and application. In this paper, a new design of the concrete-filled double steel tubular column-RC beam joint with self-centering capability and friction energy dissipation was proposed. The joint was modeled with ABAQUS and OpenSees, and hysteretic simulation was carried out to verify the reasonableness and accuracy of the OpenSees phenomenological model. Based on the OpenSees platform, a one-bay, six-story prefabricated self-centering frame structure was modeled, and seismic fragility analysis based on the incremental dynamic analysis was performed, in which seismic fragility curves were obtained according to the probabilistic demand analysis model. The results indicated a high coincidence in hysteretic curves between the ABAQUS model and the OpenSees phenomenological model, which showed favorable self-centering and energy dissipation performance of the joint proposed in this paper. Based on FEMA 356, three kinds of performance points were defined, i.e., “Immediate Occupancy” (IO), “Life Safety” (LS), and “Collapse Prevention” (CP). The prefabricated self-centering frame in this paper tended to exceed the IO, where the stiffness and strength of the structure was susceptible to damage. However, the failure probability at the LS performance level remained low, with only 5% and 37% failure probability under moderate and rare earthquakes, respectively. The structure achieved a collapse margin ratio of 4.28, which indicated a high collapse resistance in it.

Pengaruh NPM dan Current Ratio terhadap Financial Sustainability pada Perusahaan Farmasi yang Terdaftar di BEI Tahun 2014-2022

This study aims to determine the effect of Net Profit Margin (NPM) and Current Ratio on Financial Sustainability (FSR) in Pharmaceutical Sector Companies Listed on the IDX. The sample used in this research is 2 pharmaceutical sector companies listed on the Indonesia Stock Exchange for the period 2014 - 2022 and using purposive sampling method. The data analysis technique used is quantitative analysis. The data analysis method used is hypothesis testing including the F statistical test and the t statistical test. The results obtained in this study indicate that there is a significant effect of Net Profit Margin (NPM) and Current Ratio together on Financial Sustainability (FSR). Based on partial tests, there is a significant effect of Net Profit Margin (NPM) on Financial Sustainability (FSR). While Current Ratio has no significant effect on Financial Sustainability (FSR) in Pharmaceutical Sector Companies Listed on the IDX.

Enhancement of aerodynamic performance of axial compressors utilizing natural aspiration through optimized casing circumferential slot

This paper presents results of aerodynamic enhancement of axial compressors utilizing optimum natural aspiration through a circumferential slot made within the casing wall upstream the rotor blades row. The method of investigation is based on numerical simulation of flow field. Geometries of the slot walls were optimized to find the maximum stall margin and pressure ratio of the compressor. The optimum case is accompanied by boosting more momentum within the blades tip region through the slot. Consequently, tip leakage vortex flow weakens and compressor stability margin increases. Final results showed that in comparison to the untreated casing, the optimum geometry of the slot causes the total pressure ratio and stall margin to increase by 4.2% and 3%, respectively. This state-of-the-art technique is simple and economic which can be easily implemented in practical cases while the compressor is exposed to commencement of flow instabilities in the forms of the rotating stall or surge phenomena.

Pengaruh Net Premium Growth Ratio, Solvency Margin Ratio, Underwriting Ratio, dan Investment Yield Ratio Terhadap Return On Equity

This research is a study conducted to analyze the effect of the Net Premium Growth Ratio, Solvency Margin Ratio, Underwriting Ratio, and Investment Yield Ratio on Return on Equity in General Insurance Companies Registered in the Indonesian Insurance Directory for the 2018-2022 period. This study uses a quantitative approach with secondary data sources obtained from company financial reports issued by each company. The sampling technique in this study was to use purposive sampling so that 20 companies were selected based on the sample criteria. This research is a quantitative research using panel data regression analysis method with the help of eviews 10. The results showed that the Net Premium Growth Ratio and Underwriting Ratio had no and significant effect on Return on Equity, Solvency Margin Ratio and Investment Yield Ratio had a significant negative effect on Return on Equity.

Economic efficiency of rice production among the small-scale women farmers in the Federal Capital Territory, Nigeria

This study evaluated the economic efficiency of rice production among the small-scale women farmers in the Federal Capital Territory, Nigeria. A multi-stage sampling technique was used to select 100 small-scale women rice farmers. The primary data were collected with the aid of a well-designed and well-structured questionnaire. The data were analyzed using descriptive statistics, farm budgeting technique, financial analysis, the Stochastic production frontier efficiency model, and the Tobit dichotomous regression model. The results show that 88% of women rice farmers were below 50 years old. The mean age was 44 years. Averagely, they were small-scale farmers with 1.31 hectares of farm land. The labor input in man-days constituted the highest percentage of about 50.8% of the total costs of activities involved in rice production. The net farm income and gross margin ratio was estimated at 416,800 Naira and 0.63 respectively. This shows that the rice production by women farmers was profitable and worthwhile. The mean allocative, economic, technical efficiency scores were 50.3%, 50.8%, and 51.20% leaving the efficiency gaps of 49.7%, 49.2%, and 48.8% for improvement respectively. The significant factors influencing the economic efficiency of the rice production among women farmers include the following: – farm size, labor input, household size, seed input, fertilizer input, chemical input, farm experience, and access to credit. The major constraints encountered by women rice farmers include the following: inadequate credit facilities (1st), high cost of labor (2nd), high cost of fertilizers (3rd) and high cost of herbicides (4th). The study recommends that farm inputs such as improved seeds, fertilizer input, chemical input and herbicides should be made available to women farmers at affordable prices. Credit facilities devoid of rigorous administrative procedures at low interest rate should be made available to women farmers Keywords: economic efficiency, rice production, Tobit regression model, small-scale women farmers, Abuja, Nigeria

Factors influencing the allocative efficiency of the small-scale tomato (Lycopersicum species) production in Kaduna state, Nigeria: implications for food security and resource management

This study evaluated factors influencing the allocative efficiency of the small-scale tomato (Lycopersicum species) production in Kaduna State, Nigeria: implications for food security and resource management. A multi-stage sampling technique was used to select 120 small-scale tomato farmers. The data from primary sources was collected with the help of a well-structured and well-designed questionnaire. This data was analyzed using descriptive and inferential statistics. The result indicates that the mean age of the small-scale tomato resource farmers is 46 years old; the mean household size of the respondents is 7 persons, while the mean resource farm size is 1.17 ha. The minimum and the maximum allocative efficiency scores of the tomato farmers are 0.30 and 0.93 respectively. The results of the profitability analysis indicate that the tomato production is profitable with a gross margin and a net farm income of N550, 960 per ha and N497, 190 respectively. The gross margin and operating ratios are 0.69 and 0.28 respectively. The resource inputs and socio-economic factors influencing the allocative efficiency of tomato production are the following: age, farm size, household size, gender, marital status, level of education, access to extension services, and membership in a cooperative organization. The study recommends that farmers should be provided with the following resource inputs: improved seeds, chemicals, fertilizer inputs, credit facilities and extension services in order to reduce resource wastages, increase efficiency and productivity. Keywords: allocative efficiency, small-scale tomato production, resource management, food security, Kaduna State, Nigeria

Determinants of Bank Profitability—Do Institutions, Globalization, and Global Uncertainty Matter for Banks in Island Economies? The Case of Fiji

The objective of this study is to examine the influences of institutions, globalization, and world uncertainty on bank profitability in small developing economies. Consequently, we emphasize the significance of both bank-specific and other external factors influencing bank profitability. The empirical estimation is based on seven banks in Fiji—a small island economy—over the period 2000–2021. Together with bank-specific and macro factors, we account for institutions, globalization, and world uncertainty in analyzing the determinants of bank profitability. The study uses the fixed-effect estimation method. From the results, we observe that bank-specific variables, like the net interest margin, non-interest income, bank size, and capital adequacy ratio, are positively associated with bank profitability. Non-performing loans and credit risk are negatively associated with bank profitability. Macro variables, such as real GDP growth and remittances, have positive effects on bank profitability. Institutional factors, such as government effectiveness and voice and accountability, are positively associated with bank profitability. Regarding globalization, we find that it supports bank profitability. Global uncertainty and the Global Financial Crisis (2007–2008) are positively associated with profitability, whereas the global pandemic (COVID-19) is negatively associated. This study underscores the need to analyze the bank performance with factors beyond those reported in financial statements to derive a comprehensive understanding and appreciation of the complex nature of banking operations.

The Comparison between Spinal Facet Joint Toothed Plate and Traditional Pedicle Screw-rod on Reduction of Thoracolumbar Fracture.

Thoracolumbar fractures are one of the most common fractures in clinical practice. Surgical intervention is recommended to restore spinal alignment or decompress the nerves when there are unstable fractures or neurological injuries. However, after excessive forward thrust force restoration, facet joint dislocation often occurs between the upper vertebra and the fractured vertebra, which usually leads to unsatisfactory reduction outcomes. Herein, we propose a novel spinal facet joint toothed plate to assist in fracture reduction. The purpose of this study is to evaluate the effectiveness of the new spinal facet joint toothed plate in preventing facet joint dislocation, and its advantages compared to traditional pedicle screw-rod decompression. A total of 26 patients in the toothed plate group and 93 patients in the traditional group who experienced thoracolumbar fracture with reduction were retrospectively included. Relevant patients' information and clinical parameters were collected. Furthermore, visual analogue scores (VAS) scores and Oswestry disability index (ODI) scores were also collected. Moreover, imaging parameters were calculated based on radiographs. Correlated data were analyzed by χ2 test and t test. All patients in this study had no postoperative complications. Postoperative VAS scores and ODI scores (p < 0.001) were statistically significant (p < 0.001) in both groups compared with preoperative scores and further decreased (p < 0.001) at final follow-up. In addition, the postoperative vertebral margin ratio (VMR) (p < 0.001) and vertebral angle of the injured vertebrae (p < 0.001) were significantly improved compared with the preoperative period. There were no significant differences in postoperative VAS scores and ODI scores between the two groups. However, toothed plate reduction significantly improved the VMR (p < 0.05) and vertebral angle (p < 0.05) compared with conventional reduction. Ultimately, the total screw accuracy was 98.72% (sum of levels 0 and I), with 100% screw accuracy in the segment related to the tooth plate in the tooth plate group. The dislocation rate was higher in the conventional group (6.45%) than in the new serrated plate repositioning group (0.00%). The facet toothed plate assisted reduction method prevents facet joint dislocation and improves fracture reduction compared to traditional reduction technique, hence it could be considered as a novel surgical strategy for thoracolumbar fracture reduction.

Association Between Oral Malodor and Dementia: An 11-Year Follow-Up Study inJapan.

As infrequent social interaction is a potential risk of dementia, oral malodor may increase the risk of dementia, including Alzheimer's disease. This study investigated the association between malodor and dementia. We used the Japan Public Health Center-based Prospective Study data obtained at Yokote City. A total of 1,493 individuals aged 56 to 75 years underwent a dental examination and self-reported survey from May 2005 to January 2006. Follow-up for the onset of dementia was conducted using long-term care insurance data from 2006 to 2016. Hazard ratios of oral malodor on dementia were estimated by the Cox proportional hazards model. The inverse probability-weighted Cox model was used as a sensitivity analysis. The study comprised 1493 participants (53.6% women) with a mean age of 65.6 (SD = 5.8) years old; at the end of the follow-up, 6.4% (n = 96) developed dementia, and the percentage was 20.7 in severe malodor group. Throughout 15274.133 person-years of follow-up, the average incidence rate for the onset of dementia per 1000 person-years was 6.29. The highest incidence rate was seen in participants with severe malodor (22.4 per 1000 person-years). After adjusting for confounders, compared to those with no malodor, there was a 3.8 (95% confidence interval: 1.5 to 9.4) times greater hazard of developing dementia in participants with severe malodor. The inverse probability weighted Cox model confirmed the same trend with an adjusted marginal hazard ratio of 4.4 (1.2 to 16.4). A significant association between oral malodor and the onset of dementia exists.

Seismic collapse performance assessment of high‐strength steel framed‐tube structures with shear links fabricated using low‐yield‐point steel

SummaryA high‐strength steel framed‐tube structure with shear links fabricated using low‐yield‐point steel (HSSFTS‐LYPSL) was developed in this study to improve the seismic performance and resilience of the conventional steel framed‐tube structure. When this HSSFTS‐LYPSL is subjected to strong earthquake excitation, its shear links undergo significant plastic deformation to dissipate seismic energy while critical components such as the spandrel beams and columns maintain their elasticity. Furthermore, the replacement of damaged links was facilitated by the use of bolted end‐plate connections. This study designed three typical HSSFTS‐LYPSL examples with 20, 30, and 40 stories to investigate the seismic collapse performances of HSSFTS‐LYPSLs at different seismic intensity levels. Three‐dimensional nonlinear finite element analysis models of these example structures were developed using the OpenSEES software, and the accuracy and effectiveness of the modeling approach was validated by comparing its results with those of quasi‐static tests on sub‐structure assemblies. Next, 40 records each of far‐field and pulse‐type near‐field ground motions were selected and applied with an incremental dynamic analysis (IDA) to obtain response curves for the example structures and calculate their collapse fragility curves and collapse margin ratios (CMRs) utilizing a modified collapse fragility model. Finally, based on the collapse fragility and seismic hazard curves, the seismic collapse risk probability curves of the HSSFTS‐LYPSLs were obtained under far‐ and near‐field earthquakes, revealing that at the maximum considered earthquake level, the CMR values ranged from 5.74 to 7.25 and from 4.85 to 6.67, respectively; at the very rare earthquake (VRE) level, the CMR values ranged from 3.83 to 4.85 and from 3.24 to 4.46, respectively. These results demonstrate that HSSFTS‐LYPSLs exhibit sufficient potential for seismic collapse resistance. As pulse‐type near‐field earthquakes had more significant and adverse impacts on the seismic collapse performances of the HSSFTS‐LYPSLs than far‐field earthquakes, the seismic collapse design of an HSSFTS‐LYPSL should particularly consider the influence of near‐field effects. In addition, the seismic hazard function had a greater effect on the structural seismic collapse risk curves than the collapse fragility function, suggesting that seismic collapse risk curves could provide a comprehensive assessment of HSSFTS‐LYPSL seismic collapse performance. Under far‐ and near‐field earthquakes, the annual collapse risk probabilities of the HSSFTS‐LYPSL examples at the VRE level were within 1.18 × 10−5–4.53 × 10−5, which is below the seismic collapse risk threshold recommended by others, indicating that HSSFTS‐LYPSLs can meet the fourth‐level performance objective of “no collapse failure at the VRE level.” However, this study only conducted seismic collapse and risk assessments using example HSSFTS‐LYPSLs; future research will focus on determining the seismic recovery capacities of and developing post‐earthquake repairability methodologies for HSSFTS‐LYPSLs.

Seismic vulnerability analysis of a high‐rise steel frame structure equipped with novel displacement‐amplified viscoelastic dampers

SummaryThe energy dissipation capacity of conventional viscoelastic dampers (VEDs) cannot be fully exerted due to the relatively small inter‐story displacement of building structures. Thus, a novel VED with a displacement amplification mechanism based on the lever principle is developed in this study to achieve small displacement but high energy dissipation ability. First, the structural layout of an amplified viscoelastic damper (AVED) system is briefly introduced, and then the displacement amplification effect is described in detail. According to the working principle of the AVED and the relationship of force and geometric displacement in an actual frame structure, the restoring force theoretical formula of the corresponding amplified damper is derived. Based on the restoring force of the AVED and in combination with the secondary development function of the ABAQUS unit, a VUEL subroutine suitable for the explicit algorithm is programmed with the FORTRAN language. Then, the correctness of the subroutine is verified through a comparative analysis of the ABAQUS simulation and theoretically calculated results. Consequently, the vulnerability analysis of a high‐rise steel frame structure is conducted by using the incremental dynamic analysis (IDA) method, and the influence of the AVED on the seismic performance of the steel frame structure is quantitatively analyzed from the perspective of probability statistics. The analysis results show that compared with the VED structure, the failure probability of the AVED‐2 and AVED‐3 structures reaching the ultimate failure state at all levels is reduced by approximately 43% and 57%, respectively, and the collapse margin ratio (CMR) of structures under large earthquakes is increased by approximately 35% and 68%, respectively. This indicates that the AVED structures with displacement‐amplified dampers have a better effect on the seismic stability of tall steel frame structures under random seismic excitations. This study aims to provide comprehensive information for the seismic‐resistant design of tall buildings in earthquake‐prone regions.

A Hybrid MCDM Approach Using the BWM and the TOPSIS for a Financial Performance-Based Evaluation of Saudi Stocks

This study presents a hybrid multicriteria decision-making approach for evaluating stocks in the Saudi Stock Market. The objective is to provide investors and stakeholders with a robust evaluation methodology to inform their investment decisions. With a market value of USD 2.89 trillion dollars in September 2022, the Saudi Stock Market is of significant importance for the country’s economy. However, navigating the complexities of stock market performance poses investment challenges. This study employs the best–worst method and the technique for order preference by similarity to identify an ideal solution to address these challenges. Utilizing data from the Saudi Stock Market (Tadawul), this study evaluates stock performance based on financial criteria, including return on equity, return on assets, net profit margin, and asset turnover. The findings reveal valuable insights, particularly in the banking sector, which exhibited the highest net profit margin ratios among sectors. The hybrid multicriteria decision-making-based approach enhances investment decisions. This research provides a foundation for future investigations, facilitating a deeper exploration and analysis of additional aspects of the Saudi Stock Market’s performance. The developed methodology and findings have implications for investors and stakeholders, aiding their investment decisions and maximizing returns.

Research on the Equivalent Criterion for Ratios of Safety Margin in Terms of the Factor of Safety and the Reliability Index Under Lognormal Distribution

The ratio of safety margin is the bridge between deterministic design and reliability design. However, the equivalence criterion between the ratios of safety margin in terms of the factor of safety (FOS) and the reliability index is ambiguous. This paper considers the traditional and reliability-based design method at the same safety level. A general form of the FOS following lognormal distribution is adopted. It was found that the variability of FOS is affected by the normalized gradient and the coefficient of variation of random variable. The ratios of safety margin in terms of the FOS and the reliability index are equivalent in the specific project if the normalized gradient does not vary with the design parameters. The feasibility of applying the ratio of safety margin may be increased in engineering practice.

On the Bivariate Extension of the Extended Standard U-quadratic Distribution

This paper derives the bivariate version of the extended standard U-quadratic (eSU) distribution using the method of compounding or pseudo family of distributions. The joint probability and cumulative distribution functions of the derived distribution are obtained and it is observed that the said distribution can generate bivariate shape with the following properties: $(i)$ $X$ and $Y$ have bathtub shapes; $(ii)$ $X$ has constant and $Y$ has bathtub shapes; and $(iii)$ $X$ has inverted bathtub and $Y$ has bathtub shapes. Moreover, some properties of the derived distribution such as the marginal distribution, conditional distributions, conditional moments, product and ratio moments are derived. Further, the maximum likelihood estimation is performed to estimate the parameters of the derived distribution. Also, a simulation study is carried out to evaluate the behavior of the estimates of the parameters. Moreover, we derive a new bivariate Kumaraswamy distribution and use it to simulate bivariate data with $X$ and $Y$ having bathtub shapes. Furthermore, A new bivariate version of the Cubic Transmuted Uniform (CTU) distribution is also derived. Finally, the proposed Bivariate eSU distribution is applied to simulated data and compared with the said Bivarite Cubic Transmuted Uniform distribution. The result shows that the proposed Bivariate eSU distribution provides a better fit for the said simulated dataset as compared with the Bivariate CTU distribution.

О равновесных ценах и законах спроса и предложения

As a result of the equalization of the profitability of capitals (which is associated with the formation of a surplus of commodities and production), with the constancy of the volume of circulating money (which maintains the constancy of the price level), as a result of the selective inclusion of consumption requests in the market, in a certain interval of the ratio of satisfied demand to total supply, there is observed, due to a number of reasons that prevent the reduction of prices, the stabilization of the prices of final commodities in relation to their value, their maintenance in equilibrium even with some redistribution of satisfied demand between goods. Continuing the logic of marginalism, we must conclude that the partial marginal utilities of less rare commodities, through the limitation of their consumption, are necessarily equated with the marginal utility of the rarer commodity, which has unaccounted consequences. The «laws of supply and demand» (where price is not defined as a concept [1, p.24]) are incompatible with the theory of marginal utility, which means that price is a function of the amount of consumption, but not vice versa. The law of demand, in essence, asserts the tendency of the partial rarity of a commodity, due to the growth of purchases, to its market rarity without observing marginal ratios. The assertion that when the price rises, it is advantageous to increase production, is inconsistent with the marginal position that the price rises with an increase in the scarcity of the commodity, which corresponds to a decrease in the amount of utilities that go into income. The dependence of demand on price is consistent with the labor theory of value.

Scalable inference with autoregressive neural ratio estimation

ABSTRACT In recent years, there has been a remarkable development of simulation-based inference (SBI) algorithms, and they have now been applied across a wide range of astrophysical and cosmological analyses. There are a number of key advantages to these methods, centred around the ability to perform scalable statistical inference without an explicit likelihood. In this work, we propose two technical building blocks to a specific sequential SBI algorithm, truncated marginal neural ratio estimation (TMNRE). In particular, first, we develop autoregressive ratio estimation with the aim to robustly estimate correlated high-dimensional posteriors. Secondly, we propose a slice-based nested sampling algorithm to efficiently draw both posterior samples and constrained prior samples from ratio estimators, the latter being instrumental for sequential inference. To validate our implementation, we carry out inference tasks on three concrete examples: a toy model of a multidimensional Gaussian, the analysis of a stellar stream mock observation, and finally, a proof-of-concept application to substructure searches in strong gravitational lensing. In addition, we publicly release the code for both the autoregressive ratio estimator and the slice sampler.

Analysis of Underwriting Activity and its Impact on the Profitability Ratios of the Insurance Companies Listed in the Iraq Stock Exchange

Abstract It is commonly accepted that the success and expansion of insurance companies’ underwriting operations, which is indicated by the premiums received from insurance policies, is reflected in their profitability rates. During the period of 2010 to 2021, Iraqi insurance companies in the private sector that are listed on the Iraq Stock Exchange experienced a fluctuation in the increase and noticeable decrease of gross written premiums, which had a negative impact on their profitability ratios. The aim of this investigation is to analyze the underwriting activities carried out by all insurance companies that are publicly listed on the Iraq Stock Exchange spanning from 2010 to 2021, and assess the impact of these activities on the companies’ profitability rates. To evaluate the profitability of these firms, three indicators are used, namely the rate of return on assets, return on equity, and profit margin ratio. The study employs Data Panel models using Eviews 12 to identify the research samples during the study period. Additionally, the pooled regression model is used to compare the findings and test the hypotheses of the study. In a structured manner, data is collected from the annual reports released by the Iraq Stock Exchange. The statistical examination of the findings reveals that the gross written premium has a significant and positive influence on all of the profitability ratios that were evaluated in this study, namely the rate of return on assets, return on equity, and profit margin ratio.