台灣地區本國與外國產物保險公司財務特性比較之研究：並論金融海嘯之影響

The Comparation of Financial Attributes between Domestic and Foreign Non-Life Insurance Companies: Considering the Impact of Financial Crisis.

施小萍(Hsiao-Ping Shih)

指導教授 ： 黃振豊

淡江大學/商管學院/會計學系碩士在職專班/碩士(2013年)

https://doi.org/10.6846/TKU.2013.00746

摘要

本研究在探討本國與外國產險業間財務業務指標是否呈現相對的差異性；更進一步探討產險業各項財務指標在金融海嘯的衝擊下是否發生相對性的變化。本研究運用敘述性統計、T檢定、因素分析、迴歸分析等統計方法，評估2005年至2011年台灣地區17家產險公司的財務資訊。實證過程先將20個變數以獲利能力、業務能力、經營能力及整體成長性區分為4項指標，對產險業各項財務比率進行本國與外國產險公司間以及在金融海嘯發生前後是否有其差異性做分析並比較。再利用因素分析，將20個變數萃取成六個因素構面，並命名為權益報酬、費用損失率、資產報酬、資金報酬、保費變動和固定資產效率，與上述20個變數分別進行Logistic迴歸分析。實證結果顯示，本國與外國產險公司在各項財務與業務比率及各因素構面間確實存在差異性；並自實證結果獲知，上述各項財務與業務比率和各因素構面間，於金融海嘯發生前後期並未產生本國與外國產險公司間相對性的變化。

關鍵字

產物保險 ； 金融海嘯 ； 財務指標

並列摘要

This study investigates the financial attributes of Taiwan’s non-life insurance industry to show the relative differences between domestic and foreign companies. In addition, the study further explores whether the financial indicators of non-life insurance industry have been influenced and occurred relative changes between domestic and foreign companies by financial crisis in 2008. In this study, descriptive statistics, T-test, factor analysis, regression analysis and other statistical methods are used to assess the financial information of the 17 insurance companies in Taiwan during 2005 to 2011. First, the 20 variables are divided into four areas, including profitability, business ability, management ability, and overall growth；then descriptive statistics and T-test are used to analyze and compare financial ratios between the domestic and foreign insurance companies, as well as the differences between before and after 2008 financial crisis. Second, this study uses factor analysis technique to extract the 20 variables into six dimensions, named as return on equity, the ratio of cost and loss, return on assets, return on capital, the changing in the premium and the efficiency of fixed assets. Then the six dimensions and the 20 variables are applied for logistic regression models respectively. The empirical results show various financial and business ratios and factor dimensions which did exist differences between domestic and foreign insurance companies but the financial attributes didn’t cause relative changes between domestic and foreign insurance companies in pre-and-post financial crisis.

並列關鍵字

Non Life Insurance ； Financial Crisis ； Financial Attributes

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