产险资金运用效率与影响因素研究——基于DEA模型与面板固定效应模型  

Analysis on the Efficiency of the Usage of Property Insurance Funds Based on the DEA Model and the Panel Fixed-Effect Model

作　　者：李心愉[1] 赵景涛[1] 

机构地区：[1]北京大学经济学院,北京100871

出　　处：《保险研究》2014年第10期52-63,共12页Insurance Studies

摘　　要：本文利用2008—2011年产险资金的数据，基于BCC和CCR模型得到样本产险公司保险资金运用的SE（规模效率）和PTE（纯技术效率）。实证显示，总体样本的sE效率值不高，且外资SE效率值明显高于中资SE效率值，但在胛E方面中资企业较高。实证说明，从资源配置结构方面看，中外资差距较大，皆具有提高空间。从投资管理能力和投资技术水平方面看，中资较先进。本文利用面板固定效应模型对SE进一步分析，得出影响SE的内部因素。实证表明，截至2011年我国的产险资金运用效率处在规模效率递增的阶段，且与定期存款相比，长期投资对产险资金运用效率的影响更加稳定；还发现影响保险资金运用效率的其他重要因素。This article used the fund investment＇ s data from 2008 to 2011 of property insurance companies to get SE （scale efficiency） ＆ PTE （pure technical efficiency） of insurance fund utilization based on the BCC and CCR models. The empirical study showed that the whole samples＇ SE value was not high, and the foreign samples＇ SE value was better than the domestic ones＇. But domestic companies were better on PTE values. This indicated that in the respect of resources＇ allocation structure, there was a big gap between domestic and foreign insurers and there was room for improvement for both, and in the respect of investment, the domestic companies had better skills and management. Next, by using the panel fixed-effect model to analyze some internal factors affecting the SE value, the paper proved that, up until 2011, the SE of Chinese property insurance companies had been increasing. In contrast to term deposits, long-term investment had more stable effects to the fund investment efficiency. The paper also un- veiled some other important factors impacting the efficiency of insurance fund utilization.

关 键 词：产险资金运用 规模效率 纯技术效率 

分 类 号：F840.32[经济管理—保险]