保险资金投资效率影响因素分析——基于面板数据的实证研究  

A Panel Data Analysis of Factors Influencing the Investment Efficiency of Insurance Funds in China

作　　者：朱衡[1] 

机构地区：[1]西南财经大学保险学院,四川成都611130

出　　处：《保险职业学院学报》2018年第1期13-18,共6页Journal of Insurance Professional College

摘　　要：作为保险公司的主要利润来源,保险资金投资效率对公司的长远发展至关重要。本文利用2007-2014年23个保险公司的相关数据,运用面板数据对保险资金投资效率的影响因素进行实证研究,得出影响投资效率的内部因素。实证结果表明,资产规模与保险资金运用效率呈现负相关;定期存款投资比例与长期类证券投资比例对保险资金投资效率的影响是显著负相关的;且市场份额增大提高了保险资金的投资效率;营业费用占比与人力资本对保险公司的投资效率起着消极作用,但影响结果不显著。As the main source of profits of insurance companies, investment efficiency of insurance funds is very important to the companyZs long--term development.Using the related panel data of 23 in- surance companies in 2007--2014,this paperanalyzesthe influencing factorsof insurance funds investment efficiency.The empirical results indicate a negative correlation between the asset scale and the efficiency of insurance fund usage. There is a significant negative correlation between the efficiency of the invest- ment of insurance funds and the deposit proportion of investment as well as long--term securities invest- ment proportion.Increased market share improves the efficiency of the investment of insurance funds. Operating expenses proportion and the efficiency of human capital investment in the insurance company plays a negative role, but with no significant influenceon the outcome.

关 键 词：保险资金 投资效率 面板数据 

分 类 号：F840.43[经济管理—保险]