Identifying changes in insurance companies’ competitiveness on the travel services market
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Received October 5, 2020;Accepted December 15, 2020;Published December 25, 2020
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Author(s)Link to ORCID Index: http://orcid.org/0000-0002-1354-4838Link to ORCID Index: https://orcid.org/0000-0003-3665-0585Link to ORCID Index: https://orcid.org/0000-0003-4274-2507
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DOIhttp://dx.doi.org/10.21511/ins.11(1).2020.06
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Article InfoVolume 11 2020, Issue #1, pp. 53-60
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The purpose of the study is to develop methodological approach for identifying changes in the level of insurance companies’ competitiveness on the travel services market. Based on development of multifactor regression equation, integrated indicators of insurance companies’ competitiveness in 2016–2019 were calculated. The application of three-sigma rule allowed to divide insurance companies by competitiveness levels and to identify that during 2016–2019 most of insurers had sufficient and critical levels of competitiveness and the group of insurance companies with a high level of competitive position is small. The Markov chain theory was used as a research method to determine the probability of insurance companies moving to higher or lower competitiveness levels. The results of Markov’s method showed that the majority of insurance companies are most likely to remain in their initial groups and only insurers with low and sufficient competitiveness have high probability to change their positions. Companies with high competitiveness have very strong positions on the market and there is very low probability that other insurers will capture leaders’ market share in the coming years. So, the use of the developed approach allows predicting a decrease of insurance ability to compete on the travel services market and deciding on the necessity to change the competitive strategy.
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JEL Classification (Paper profile tab)G17, G22, M31
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References17
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Tables4
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Figures1
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- Figure 1. Distribution of insurance companies according to the integrated indicator of competitiveness on the travel services market
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- Table 1. Parameters of the regression model for calculating the indicator of insurance companies’ competitiveness on the travel services market
- Table 2. Statistical characteristics of distribution of integrated indicator of insurance companies’ competitiveness on travel services market
- Table 3. Scales of insurance companies’ competitiveness on travel services market
- Table 4. Matrix of insurance companies moving between groups according to the levels of their competitiveness on the travel services market
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Conceptualization
Nataliya Vnukova, Elza Mamedova
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Methodology
Nataliya Vnukova, Nataliya Opeshko, Elza Mamedova
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Supervision
Nataliya Vnukova
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Writing – original draft
Nataliya Vnukova, Elza Mamedova
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Writing – review & editing
Nataliya Vnukova, Nataliya Opeshko
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Data curation
Nataliya Opeshko
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Formal Analysis
Nataliya Opeshko, Elza Mamedova
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Project administration
Nataliya Opeshko
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Software
Nataliya Opeshko
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Validation
Nataliya Opeshko
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Funding acquisition
Elza Mamedova
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Investigation
Elza Mamedova
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Resources
Elza Mamedova
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Conceptualization
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Retraction: The effect of human capital on performance of East African commercial banks
Banks and Bank Systems Volume 15, 2020 Issue #2 pp. 56-66 Views: 1029 Downloads: 133 TO CITE АНОТАЦІЯRetracted on the 7th of July, 2020 by the Journal’s Editor-in-Chief request dated July 3th 2020. The type of retraction – plagiarism.
The Editor-in-Chief of the journal was asked to retract this article because of plagiarism. The request came from the author of the article, which was published 8 months before the retracted article was published in “Banks and Bank Systems” journal. The author(s) insisted that the article completely repeated his own, i.e. contained a high level of plagiarism that could not be corrected.
Editorial staff carried out an investigation into plagiarism in the article published. When the manuscript was submitted to the Journals for consideration, the authors signed the Cover letter and attested to the fact that their manuscript is an original research and has not been published before. After that, the manuscript was accepted for consideration by the Managing Editor and was tested for plagiarism using the iThenticate program. Plagiarism was not detected. Later, after the article complaint and the statement of plagiarism, we used all the sources and resources provided by the complainant, the article was re-tested for plagiarism, and plagiarism was established
According to the results of the investigation, the editorial board decided to retract the article on July 7, 2020.
The authors were notified of such a decision. -
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Acknowledgment
This study is supported by Kuwait University research sector, grant number IF-03/18.