The Investment Performance of Minority Controlled Life Insurance Companies
研究了少数族裔控股人寿保险公司的投资绩效，发现这些公司规模小且增长受限，主要由于历史排斥和竞争加剧，但现有文献忽视了投资侧的增长障碍。
Minority owned life insurance companies are relatively small life insurance companies, with the largest company having only a small fraction of the market. The size of minority owned life insurance companies is not related to the length of time they have been in existence, since many of these firms are well established with a long and profitable history. The literature suggests the deterrents to growth facing minority owned life insurance companies have been lack of financing; inability to recruit and retain highly qualified personnel; patterns of segregation that restrict the market; lack of communication with the white business community; lack of managerial skills and attitudes; and lack of mutual trust among minorities.' In toto these deterrents suggest that minority owned life insurance companies are small because of the historical exclusion of minorities from the economic mainstream.2 The social changes of the 1960's which produced a growing awareness of and emphasis on minority owned-businesses, did not produce the economic growth for minority owned life insurance companies that social activists might have expected. Instead, it removed historical barriers which had previously insulated minority owned life insurance companies from the competition of established non-minority owned life insurance companies. This added competition has created a challenge to the survival and growth of the minority owned life insurance company.3 Duker and Hughes and Hills4 made several recommendations to help minority owned life insurance companies overcome the previously mentioned deterrents to growth; however, both articles restricted their attention to increasing revenue on the production side of insurance company operations. The question which remains unaddressed is whether there are deterrents to growth on the investment side.