台灣壽險業分項投入與產出效率之分析

本研究使用資料包絡分析法的差額變數衡量法，探討台灣24間壽險公司在2012年至2016年的整體、分項投入效率 (資產、員工人數)和分項產出效率 (保費收入、投資收入)的表現，討論各個資源要素的使用效率是否存在差異及差異的可能因素。將壽險公司分為本國和外商二類，用Mann-Whitney U方法檢定，最後結果得到本國和外商壽險公司整體、資產和保費收入效率沒有顯著的差異；在部分年度中本國投資效率優於外商，本國員工效率在各年度皆顯著優於外商。本研究進一步以Mann-Whitney U方法檢定有、無金控之壽險公司是否有顯著的差異，結果發現有金控之壽險公司整體和投資效率顯著更優。資產、員工和保費收入效率在部分年度有金控之壽險公司顯著更優。故本研究支持壽險公司成立自己的金控公司或是成為既有的金控公司旗下的壽險子公司。

關鍵字

壽險公司；資料包絡分析法；差額變數衡量法； Mann-Whitney U ；分項投入效率；分項產出效率；金控公司

並列摘要

This study uses the SBM model of the data envelopment analysis method to analyze the overall and disaggregate input efficiencies (total assets and number of employees) and disaggregate output efficiencies (premium income and investment income) of the 24 life insurance companies in Taiwan from 2012 to 2016. This study explores whether there are differences in the use efficiency of various resource elements and possible factors of difference. We find that there is no significant difference in the overall, total assets and premium income efficiency scores of domestic and foreign life insurance companies. The investment income efficiency scores of domestic life insurance companies are higher in some years. Domestic life insurance companies have higher employee efficiency scores. This means Taiwan has high labor efficiency. The overall and investment income efficiency scores of the financial holding company (FHC)-controlled life insurance companies are better. FHC companies also have higher assets, employee, and premium income efficiency scores. Therefore, this study supports the hypothesis that a life insurance company should establish its own FHC or become a subsidiary under an existing FHC.

並列關鍵字

Life Insurance Companies ； Data Envelopment Analysis Method ； SBM ； Mann-Whitney U ； Disaggregate Input Efficiencies ； Disaggregate Output Efficiencies ； Financial Holding Companies