Anweshan - journal of Department of Commerce, Vol. 06, No. 01

Permanent URI for this collectionhttps://ir.nbu.ac.in/handle/123456789/2965

EDITORIAL

This edition of Anweshan is a qualitative shift towards gradual up-gradation of the journal. An important point that needs to be reported at the very outset is that the Department of Commerce, University of North Bengal, has taken the decision to make the journal a double blind peer-reviewed one, especially for fulfilling the basic requirements of quality and enhancing the standard of the journal. To meet this requirement, considerable time had be spent in the review process and subsequently getting the articles modified and upgraded by the authors. Eventually, the process enables us publishing the articles, which are satisfying the benchmarks of academic standard.

Six valuable articles enrich this edition; for this I am thankful to the contributors for choosing the journal and enriching it with their valuable research findings. This needs a mention that we received overwhelming response from the authors. We hope the authors will equally exhibit their choice for the journal in the forthcoming editions.

It gives me immense pleasure to state that the articles are original products of honest research works and the ideas are pure. Secondly, articles reflect well organised application of empirical analyses. I hope that research articles published in this issue will add to the existing body of knowledge and fetch due recognition from academic world

This edition is going to be uploaded in the website of the university. For this I am thankful to the university authority and computer centre for their timely decision. I convey thanks to the librarian of North Bengal University for making arrangement for plagiarism check of submitted articles. It gives us the assurance that articles published in this issue are original. I am especially thankful to the board of esteemed reviewers, a galaxy of the renowned academicians, for their kind consent to act as reviewers of the journal. The most important point is that the honourable reviewers have generously spared their valuable time and reviewed the articles with their academic excellence. Without this help the journal could not be published. I convey due regards for each of the honourable reviewers. The Department of Commerce, University of North Bengal will acknowledge this help.

I am thankful to all the faculty members of the Department of Commerce, who extended all sorts of help in the processes of getting the volume published. Thanks are also due for each member of the organising committee along with the secretary of Two Days National Seminar on Advances in Business and Management. In fact, this seminar helped a lot in getting good articles for this volume.

Finally, I want to express my sincere thanks and gratitude to all technicians and personnel of the North Bengal University Press. It needs to be mentioned that without active support and cooperation of the superintendent of the Press Mr. Indranil Ray this volume could not be made so attractive.

Prof. Dipen Roy
Editor-in-Chief

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    Post-Reform Life Insurance Industry in India: A Study on Scale Efficiency
    (University of North Bengal, 2019-03) Sarda, Madhu; Ray, Indrajit
    Indian life insurance industry witnesses a rapid growth during the post-reform period. The current statistics on number of policies and branches, sum assured, premium, share capital, insurance penetration, insurance density etc., show noticeable hike, compared to their respective values at the outset of reform. Also, total fund registers a steep rise with a compound annual growth rate of approximately 17.90% in the last seventeen years. In view of this magnanimous growth of scale, represented here by the summation of total fund and income there from, the present article seeks to measure scale efficiency of the Indian public and private life insurance sectors, both sector-wise and in totality, during the post-reform period. This study applies Econometric Frontier Approach (EFA) to estimate Transcendental Logarithmic (Translog) cost function consisting of one output and two input variables, labour and capital for a time period from 2003-04 to 2017-18. Results on scale efficiency scores of private and public life insurance sectors are 0.274378 and 0.808870 respectively. However, though both the sectors exhibit scale economies, a cautious cost effective policy should be adopted in future by public life insurance sector to raise total fund and to invest them. Indian life insurance industry as a whole portrays huge opportunity to scale-up its total fund as current scale efficiency score is as low as 0.140533.