endent insurance agencies operating within the State of California?
2. Was the implementation of the provisions of Proposition 103 associated with the subsequent decline in the number of independent insurance agencies operating within the State of California?
Hypotheses were tested in relation to each of the research questions. The dependent variables in these hypotheses were defined operationally within the context of insurance agency financial performance measures with a potential to contribute to a decline in the number of independent insurance agencies operating within California. The selected factors reflecting such a potential were time-related changes in sales volume levels and time-related changes in operating expense levels. Both an increase in sales volume and rate changes in the level of operating expenses that were lower than corresponding revenue changes were considered to reflect a successful operation by a
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