台灣地區產險業財務績效之實證研究 ∼修正杜邦方程式與DEA法之比較

A Study on Financial Performance of Non-Life Insurance Companies in Taiwan∼A Comparison of Dupont Equation and DEA Approach

何停好(Ting-Hao Her)

指導教授 ： 高棟梁

淡江大學/商學院/保險學系保險經營碩士班/碩士(2006年)

https://doi.org/10.6846/TKU.2006.00637

摘要

論文提要內容：
過去大多以資料包絡分析法來評估保險業經營績效，而本文率先以修正杜邦分析系統來對保險業進行績效研究，乃因一般財務學常使用之杜邦方程式並不適用於保險業財務績效評估上，保險業財務報表與其他產業有顯著差異之故。
本研究利用資料包絡分析法(DEA)及修正杜邦方程式，評估1999-2004年台灣地區22家產險公司之財務績效。以使用二種不同方法之下，分別比較此二種方法所評估的財務績效情形，並對個別評估而得之績效值進行相關分析。研究結果顯示，此二種評估方法之結果，並非完全趨於一致，故公司若能共同採用此二種方法，共同評估績效表現情形，使此二種方法在分析上具有相輔相成之功能，並可作為產險業者經營之參考，使產險業未來的經營更具效率。

關鍵字

產險業 ； 資料包絡分析法 ； 杜邦方程式 ； 財務績效

並列摘要

Abstract：
In the past, we usually evaluate the efficiency of insurance industry by using DEA. In this paper, we introduce Dupont Equation for the first time to evaluate the efficiency of insurance industry is because Dupont Equation often used in finance couldn’t be applied in evaluating the efficiency of insurance industry, of which the financial report is very different from other industries.
This paper uses the Data Envelopment Analysis (DEA) and Dupont Equation to measure the financial efficiency of 22 non-life insurance companies in Taiwan. It compares the result of financial efficiency by using two different methods and performs relevant analysis that utilizes individual efficiency value. This paper finds that the result of these two methods is different. Therefore, it’s better that companies use the two methods to perform financial efficiency at the same time as the two methods are complement to each other. Lastly, the result offers suggestions for non-life insurance companies and helps non-life insurance companies operate more efficiently in the future.

並列關鍵字

Non-Life Insurance Industry ； DEA ； Dupont Equation ； Financial

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