摘要
本文运用中国12家寿险公司和16家财险公司近10年来的面板数据,基于新产业组织理论,考察保险产业组织的运行规律及保险保障基金提取额对保险业产业组织的影响。估计结果显示:寿险业和财险业普遍存在过度竞争,竞争侵蚀绩效;无论是财险业还是寿险业,保险保障基金提取额对竞争活动的积极程度和市场份额具有正向影响,而与保险公司的经营绩效负相关;引入虚拟变量考察保险保障基金制度从隐性制度向显性制度变迁的经济效应发现,显性制度有利于抑制道德风险,使大多数保险公司规范自身竞争行为,扩张市场份额并提高绩效水平。
This paper investigates the impact of guarantee fund on industrial organization of Chinese insurance industry, using panel data encompassing 12 Chinese life companies and 16 property - liability companies over the period 1999-2007. Based on new industrial organization theory, the analysis focuses on the effect of guarantee fund to market structure, competition action and performance. The results show： （1）Competition action is positive related with market structure in P/L companies but negative with market structure in life companies, competition action is negative with performance in both P/L and life companies. （2）In both life and P/L companies, the extraction amount of guarantee fund is positive related with competition action and market structure, and negative with performance. （3）The transformation of implicit guarantee fund to explicit guarantee fund indicates institutional change makes most life and P/L companies improve market share, competition action and as a result achieve higher performance.
出处
《数量经济技术经济研究》
CSSCI
北大核心
2010年第2期118-132,152,共16页
Journal of Quantitative & Technological Economics
基金
中国自然科学基金(70673043)
南开大学文科青年项目(NKQ08062)资助
