- 學位論文
台灣壽險公司之成本效率與風險管理之研究－1995~2004
A Study on the Cost Efficiency and Risk Management of the Taiwanese Life Insurance Companies－1995~2004
摘要
壽險公司是整個金融體系的一環，壽險業在金融體系中是資產規模最龐大的一個產業，壽險業的經營與國家經濟發展及社會福只息息相關，壽險公司若經營不善，勢必危及整個金融體系，以及整體的社會秩序。因此本研究乃蒐集壽險公司的panel data，藉由隨機邊界成本藉由隨機邊界成本函數的推估，考慮對稱性隨機干擾項具有異質變異情況，計算各壽險公司的效率指標。藉由壽險公司各特性變數，來探討各種經營策略對壽險公司經營績效與成本風險之影響。實證結果發現總保費收入、投資金額、物料勞動比均與成本呈現正向關係且均有顯著的結果；總資產越多、資產運用率越高的壽險公司，其成本效率越高；業務支援程度越高的壽險公司，其成本效率越低。平均保險契約金額、總保費收入、投資金額平方項越高的壽險公司，其成本風險越低；投資金額、總保費收入平方項越高的壽險公司，其成本風險越高；另外，成本風險方面，舊壽險公司均高於新壽險公司。壽險公司低成本效率時低成本風險、高成本效率時高成本風險為本研究之意外發現。
並列摘要
The purpose of the study is to analyze the cost efficiency and risk management of the life insurance industry in Taiwan. The analysis is based on the likelihooh function. A stochastic cost frontier model allowed symmetric random disturbance for heteroskedasticity was applied to a panel data set composed of the observations from 25 insurance companies during 1995-2004. The empirical model is established: it uses total premium and investment as its output variables. The evidence shows that the more total assets、higher invest assets and higher material labor ratio, that the cost efficiency would be more high. Companies with higher operation support did not have higher efficiency. Besides, the cost risk of old insurance companies were higher than new companies.