Rationality of Insurance Firms' Forecasts : Results of Unbiasedness and Efficiency Tests
Many applied studies have tried to test the implications of rational expectations hypothesis on survey data. This study provides evidence on the rationality of economic forecasts made by insurance firms in a developing economy-Malaysia. Our unbiasedness test results suggest that anticipated gross re...
| Main Author: | |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
UUM Press
2020-01-01
|
| Series: | Malaysian Management Journal |
| Online Access: | https://www.scienceopen.com/document?vid=946bd5fe-596f-4c87-aca7-6aa00a235c8e |
| id |
doaj-faa9f2c5d2a240eeab984031b208b5dd |
|---|---|
| record_format |
Article |
| spelling |
doaj-faa9f2c5d2a240eeab984031b208b5dd2021-08-03T01:04:34ZengUUM PressMalaysian Management Journal0128-62262020-01-0110.32890/mmj.5.1-2.2001.8590Rationality of Insurance Firms' Forecasts : Results of Unbiasedness and Efficiency TestsMuzafar HabibullahMany applied studies have tried to test the implications of rational expectations hypothesis on survey data. This study provides evidence on the rationality of economic forecasts made by insurance firms in a developing economy-Malaysia. Our unbiasedness test results suggest that anticipated gross revenue and employment are unbiased predictors of actual gross revenue and employment respectively. Furthermore, our efficiency tests results indicate that insurance firms utilized relevant information efficiently at the time the forecasts were made. https://www.scienceopen.com/document?vid=946bd5fe-596f-4c87-aca7-6aa00a235c8e |
| collection |
DOAJ |
| language |
English |
| format |
Article |
| sources |
DOAJ |
| author |
Muzafar Habibullah |
| spellingShingle |
Muzafar Habibullah Rationality of Insurance Firms' Forecasts : Results of Unbiasedness and Efficiency Tests Malaysian Management Journal |
| author_facet |
Muzafar Habibullah |
| author_sort |
Muzafar Habibullah |
| title |
Rationality of Insurance Firms' Forecasts : Results of Unbiasedness and Efficiency Tests |
| title_short |
Rationality of Insurance Firms' Forecasts : Results of Unbiasedness and Efficiency Tests |
| title_full |
Rationality of Insurance Firms' Forecasts : Results of Unbiasedness and Efficiency Tests |
| title_fullStr |
Rationality of Insurance Firms' Forecasts : Results of Unbiasedness and Efficiency Tests |
| title_full_unstemmed |
Rationality of Insurance Firms' Forecasts : Results of Unbiasedness and Efficiency Tests |
| title_sort |
rationality of insurance firms' forecasts : results of unbiasedness and efficiency tests |
| publisher |
UUM Press |
| series |
Malaysian Management Journal |
| issn |
0128-6226 |
| publishDate |
2020-01-01 |
| description |
Many applied studies have tried to test the implications of rational expectations hypothesis on survey data. This study provides evidence on the rationality of economic forecasts made by insurance firms in a developing economy-Malaysia. Our unbiasedness test results suggest that anticipated gross revenue and employment are unbiased predictors of actual gross revenue and employment respectively. Furthermore, our efficiency tests results indicate that insurance firms utilized relevant information efficiently at the time the forecasts were made. |
| url |
https://www.scienceopen.com/document?vid=946bd5fe-596f-4c87-aca7-6aa00a235c8e |
| work_keys_str_mv |
AT muzafarhabibullah rationalityofinsurancefirmsforecastsresultsofunbiasednessandefficiencytests |
| _version_ |
1721224472861605888 |