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題名:中國壽險公司銷售與投資之經營績效評估-Dynamic Network SBM Model之運用
作者:李奇愛
作者(外文):Lee, CHI-AI
校院名稱:東吳大學
系所名稱:經濟學系
指導教授:邱永和
傅祖壇
學位類別:博士
出版日期:2017
主題關鍵詞:中國壽險公司動態網路SBM DEA效率值生產力中間財存在期間the life insurance companies in Chinadynamic network SBM DEAefficiencyproductivitylinkscarry-over
原始連結:連回原系統網址new window
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本文應用動態網路差額變數DEA模型(Dynamic Network Slack-based Measurement,Tone & Tsutsui, 2014),評估2008年至2013年中國人壽保險公司銷售及投資的經營效率,以非射線衡量法,結合網路及動態DEA,同時分析壽險公司二個部門及多個期間之效率。本文考量壽險公司的經營特質,評估壽險公司最重要的業務經營及財務管理效率,在最大化利潤下,求解最適效率值。研究結果顯示,中國壽險業普遍存在技術無效率問題,主要原因來自於外(合)資公司及外資分公司,另一原因為投資部門的專業技術不足。雖然外(合)資壽險公司的效率值遠不如中資壽險公司,但生產力指數較中資壽險公司高,中資壽險公司效率值逐年下降,外(合)資壽險公司則為上升趨勢。資產規模大的老牌壽險公司,市場占有率高,銷售績效率表現最佳。投資部門效率值中資新公司期間振盪大,顯示中資新成立公司投資策略的不穩定,對於市場風險的因應能力較為薄弱,投資專業也不及中資老牌公司和外(合)資公司。最後從Link值顯示85%的中國壽險公司資產配置需要調整,大型公司投資策略較中小型公司積極,另外從Carry-over值顯示大部份公司的債務償付能力並無太大問題。
Using a Dynamic Network Slack-based Measurement model (Tone & Tsutsui, 2014), this study evaluated the operational efficiency of sales and investment of life insurance companies in China from 2008 to 2013. Taking a non-radial measurement approach, we combined network and dynamic DEA to analyze efficiency across multiple business units and financial periods. In contrast to previous research, this paper assesses the most important business operations and financial management efficiency of life insurance companies, and compares them against optimal efficiency values in order to determine whether firms are earning maximum profit. We found that technical inefficiency was a common problem in China insurance companies, mainly due to sino - foreign equity joint ventures, and the other is due to the lack of expertise in the investment departments. Although the technical efficiency of sino - foreign equity joint ventures is far less than that of local companies, the productivity index is higher than that of local companies. The technical efficiency of local companies is decreasing year by year, while sino - foreign equity joint ventures are on the rise. However, the China insurance market is dominated by state-owned enterprises with high market share. They also performed well in the operational efficiency of sales. Change in term efficiency of investment is great in the new local life firms, showing the ability of avoiding market risk was weak, not as good as state-owned enterprises and sino - foreign equity joint ventures. In 85% of firms, the sales departments was not adequately linked to investment divisions: large companies investment strategy take a more actively, while small companies more conservative. Lastly, most companies achieved optimal carry-over efficiency, indicating that they place considerable emphasis on managing assets and liabilities in order to ensure future solvency.
壹、期刊
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貳、書籍
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