我國保險市場自1987年開放美商保險公司在台灣設立分公司、1992年6月開放國人申請新設保險公司後，才打破長期壟斷的局面，邁向自由競爭之路。在保險市場管制逐漸解禁之下，日益高昇的競爭環境，使得保險監理主管機關漸漸地關注保險公司的經營績效。因為市場競爭固然會使金融消費者受益，但是也大大提高保險公司因經營管理不當而面臨失去清償能力或者有破產的可能性，所以保險公司的經營效率乃成為重要的探討課題。基此，本論文之研究目的乃是分別探討我國人壽保險業經營績效和產物保險業核保績效等相關議題，在人壽保險業方面，實證發現(1)人壽保險市場開放後，顯示壽險公司為能因應市場開放後的競爭環境，降低成本、提昇經營效率，以增加市場競爭力；(2)由於個人壽險解約失效過高，使得壽險公司經營成本上升，降低經營效率。在產物保險業方面，實證發現(1)汽車保險各險種有承保週期的現象，但是一般火災保險和貨物運輸保險則沒有承保週期﹔另外，實證支持我國產物保險費率釐訂方法（監理制度上因素）確實會影響保險費收入的變動，此實證結果與理性預期/制度性干預的假說一致；(2) Granger因果關係檢定顯示在解釋汽車責任險承保週期的現象時，經濟成長率和股市報酬率扮演重要的角色；(3)實證支持保險價格會反應產物保險公司失去清償能力風險的假說，其隱含我國產物保險市場存在著市場紀律的功能，同時實證支持再保險需求有降低核保風險的作用。

封面
論文提要
目錄
圖目錄
表目錄
第一章 序論
第一節 前言
第二節 各章資料的說明
第三節 縱橫資料的優點和估計方法
參考文獻
第二章 我國人壽保險市場開放前後效率之實驗研究
第一節 前言
第二節 文獻回顧
第三節 估計X-效率方法和計量模型
第四節 資料來源和變數定義
第五節 實證結果
第六節 結論
參考文獻
第三章 我國產物保險業承保週期之實證研究
第一節 前言
第二節 文獻和承保週期理論
第三節 選擇樣本險種和資料來源
第四節 研究方法
第五節 實證結果
第六節 結論
附錄
參考文獻
第四章 經濟變數對我國汽車保險承保週期的影響
第一節 前言
第二節 文獻回顧
第三節 選擇樣本險種和資料來源
第四節 研究方法
第五節 實證結果
第六節 結論
參考文獻
第五章 我國產物保險損失率決定因素之實證研究
第一節 前言
第二節 核保績效、保險價格和保險新市場概況
第三節 文獻回顧
第四節 實驗模證
第五節 選擇樣本險種和資料來源
第六節 實證結果
第七節 結論
參考文獻
第六章 結論

保險法令彙編，1996，財團法人保險事業發展中心編印。
吳佩如，1998，我國產物保險核保循環之研究，逢甲大學保險學研究所碩士論文。
李君屏，壽險公司經營效率之衡量-資料包絡分析法之應用，逢甲大學保險學研究所碩士論文，民國八十三年六月。
呂家彥，台灣地區壽險市場規模經濟之研究，淡江大學金融研究所碩士論文，民國八十二年六月。
陳雲中，人壽保險的理論與實務，三民書局，台北，民國八十五年二月。
莊武仁、黃秀玲，"台灣壽險業規模經濟和多元經濟之研究,"國科會專題研究計畫（編號NSC 84-2415-H-032-007），民國八十四年十二月。
黃台心，1997a，"台灣地區本國銀行成本效率之實證研究：隨機邊界模型之應用," 人文及社會科學集刊，第九卷第一期，85-123。
黃台心，1997b， "以隨機成本邊界函數分析本國銀行的規模與多元經濟," 未發表的論文。
張遠賓，台灣地區人壽保險業成本結構實證分析，中央大學產業經濟究所碩士論文，民國七十七年六月。
張宏基、朱敬一, 1996,"用Pseudo Panel Data估計台灣男性跨期勞動替代彈性," 經濟論文叢刊, 24:3, 313-337.
劉純之，1994，"壽險公司經營效率評估 ? 本國與外商公司的比較分析,"保險專刊，第37輯，114-126。
廖述源，1990，財產保險費率釐訂理論與實際之研究 (台北：豪峰出版社)。
Aigner, D., C. A. K. Lovell, and Schmidt, 1977, "Formulation and Estimation of stochastic frontier production function models," Journal of Econometric 6, 21-37.
Alchian, A. A. and H. Demsez, 1972, " Production, information cost, and economics organization," American Economic Review 62, 777-795.
Amemiya, T., 1973, "Regression analysis when the dependent variable is truncated normal," Econometrica 41(6), 997-1016.
Bain, J. S., 1951, "Relation of profit to industry concentration: American manufacturing, 1936-1940," Quarterly Journal of Economics, August, 293-324.
Bauer, P., A. Berger, and D. Humphrey, 1993, "Efficiency and productivity growth in S. banking," In H.O. Fried, C.A.K. Lovell, and S.S. Schmidt, eds., The Measurement of Production Efficiency: Techniques and Applications. (Oxford University Press).
Berger, A. N., 1993, "Distribution free estimates of efficiency of the U.S. banking industry and tests of the standard distributional assumptions," Journal of Productivity Analysis, vol. 4, 261-292.
Berger, A. N., 1995, "The profit-structure relationship in banking: Tests of market-power and efficient-structure hypotheses," Journal of Money, Credit and Banking, Vol. 27, No. 2, May, 404-431.
Berger, L. A., 1988,"A model of the underwriting cycle in the property/liability insurance industry," Journal of Risk and Insurance, 50, 298-306.
Berger, A. N., J. D. Cummins, and M. A. Weiss, 1996, "The coexistence of multiple distribution system for financial services: The case of property-liability insurance," Working Paper, Wharton Financial Institutions Centers, University of Pennsylvania.
Berger, A. N. and T. Hannan, 1993, "Using efficiency measures to distinguish among alternative explanations of the structure-performance relationship in banking," Federal Reserve working paper.
Berger, A. N. and D. B. Humphrey, 1997,"Efficiency of financial institutions: International survey and directions for future research," European Journal of Operational Research, 98: 175-212.
Berger, A. N. and R. DeYoung, 1997, "Problem loans and cost efficiency in commercial banks," Journal of Banking Finance 21, 849-870.
Berger, A. N., W. C. Hunter, and S. G. Timme, 1993, "The efficiency of financial institutions: A review and preview of research past, present, and future," Journal of Banking and Finance 17, 221-249.
Berger, L. A. and D. Cummins, 1992,"Adverse selection and equilibrium in liability insurance markets," Journal of Risk and Uncertainty, 5, 273-288.
Berger, L. A., J. D. Cummins, and S. Tennyson, 1992,"Reinsurance and the liability insurance crisis," Journal of Risk and Uncertainty, 5, 253-272.
Berndt, E. R., 1991, The Practice of Econometrics: Classic and Contemporary. (Addison Wesley).
Biger, N. and Y. Kahane, 1978,"Risk considerations in insurance ratemaking," Journal of Risk and Insurance, 45, 121-132.
Black, K. and H. D. Skipper, 1994, Life Insurance, 12th ed. (Prentice Hall).
Blair, R. D., J. R. Jackson, and R. J. Vogal, 1975, "Economies of scale in administration of health insurance," Review of Economies and Statistics, 57, 182-189.
Boose, M. A., 1990, "Agency theory and alternative predictions for life insurers: An empirical test," Journal of Risk and Insurance, Vol. LVII, No. 3, 499-518.
Box, G. and G. Jenkins, 1976, Time Series Analysis, Forecasting, and Control. (San Francisco, Calif.: Holden Day).
Brigham, E. F. and L. C. Gapenski, 1993, Intermediate Financial Management. (Dryden Press)
Cebenoyan, A. S., E. S. Cooperman, and C. A. Register, 1993, "The relative efficiency of stock versus mutual S&Ls: A stochastic cost frontier approach, " Journal of Financial Services Research 7, 151-170.
Chidambaran, N, K., T. A. Pugel, and A. Saunders, 1997, "An investigation of the performance U.S. property-liability insurance industry," Journal of Risk and Insurance, 64, 371-381.
Cooper, Robert W., 1974, Investment Return and Property-Liability Insurance Ratemaking. (Homewood, Ill.: Irwin).
Cornwell, C., P. Shmidt, and R. C. Sickles, 1990, "Production Frontiers with cross-sectional and time-series variation in efficiency levels," Journal of Econometrics 46, 185-200.
Cummins, J. D., 1988,"Risk-based premium for insurance guaranty funds," Journal of Finance, 43, 823-839.
Cummins, J. D., 1990,"Multi-period discounted cash flow rate-making models in property-liability insurance," Journal of Risk and Insurance, 57,79-109.
Cummins, J. D. and M. Danzon, 1997,"Price, financial quality and capital flows in insurance markets," Journal of Financial Intermediation, 6, 3-38.
Cummins, J. D. and J. B. McDonald, 1992,"Risk probability distributions and liability insurance pricing ," in: J. D. Cummins, S. E. Harrington, and R. W. Klein, eds., Cycles and crises in property/casualty insurance: Causes and implications for public policy (Kansas City, Mo.: National Association of Insurance Commissioners).
Cummins, J. D. and J. F. Outreville, 1987,"An international analysis of underwriting cycles in property-liability insurance," Journal of Risk and Insurance, 54, 246-262.
Cummins, J. D. and D. W. Sommer, 1996,"Capital and risk in property-liability insurance markets," Journal of Banking and Finance, 20, 1069-1092.
Cummins, J. D. and M. A. Weiss, 1993, "Measuring cost efficiency in the property-liability insurance industry," Journal of Banking and Finance 17: 463-481.
Cummins, J. D. and H. Zi, 1997, "Measuring cost efficiency in the U.S. life insurance industry: Econometric and mathematical programming approaches," Working Paper, Wharton Financial Institutions Centers, University of Pennsylvania.
Cummins, J. D., S. E. Harrington, and R. W. Klein, 1991,"Cycles and crises in property/casualty insurance: Causes and implications for public policy," Journal of Insurance Regulation, 10, 50-93.
Cummins, J. D., S. E. Harrington, and R. W. Klein, 1992,Cycles and crises in property/casualty insurance: Causes and implications for public policy (Kansas City, Mo.: National Association of Insurance Commissioners).
Cummins, J. D., M. A. Weiss, and H. Zi, 1997, "Organizational form and efficiency: An analysis of stock and mutual property-liability insurers," Working Paper, Wharton Financial Institutions Centers, University of Pennsylvania.
Daly, M. J., P. S. Rao, and R. Geehan, 1985, "Production, scale economies and technical progress in the Canadian life insurance industry," International Journal of Industrial Organization, Vol. 3, 345-361.
Davidson, R. and J. MacKinnon, 1981,"Several tests for model specification in the presence of alternative hypotheses," Econometrics, 49, 781-793.
Demsetz, H., 1973, "Industry structure, market rivalry, and public policy," Journal of Law and Economics, Vol. 16, No.1, 1-9.
Demsetz, H., 1974,"Two systems of belief about monopoly," In Industrial Concentration: The New Learning, edited by Harvey Goldschmid. Boston: Little, Brown, 164-184.
Dickey, D. and W. A. Fuller, 1981,"Likelihood ratio statistics for autoregressive time series with a unit root," Econometrica, 49, 1057-72.
Doherty, N. A., 1981, "The measurement of output and economies of scale in property-liability insurance," Journal of Risk and Insurance 48: 391-402.
Doherty, N. A. and J. Garven, 1986,"Price regulation in property-liability insurance: A contingent claims approach," Journal of Finance, 41, 1031-1050.
Doherty, N. A. and J. Garven, 1995,"Insurance cycles: Insurance rates and the capacity constraint models," Journal of Business, 68, 383-404.
Doherty, N. A. and H. B. Kang, 1988,"Interest rates and insurance price cycles," Journal of Banking and Finance, 12, 199-214.
Doherty, N. A. and S. M. Tinic, 1981,"Reinsurance under conditions of capital market equilibrium: A note," Journal of Finance, 36, 949-952.
Enders, W., 1995, Applied Econometric Time Series. (New York: Wiley).
Enders, W., 1996, RATS Handbook for Econometrics Time Series. (New York: Wiely).
Esho, N. and I.G. Sharpe, 1996, "X-efficiency of Australian Permanent Building Societies, 1974-1990," The Economic Record, Vol. 72. No.218, 246-259.
Fairley, S., 1979, "Investment income and profit margins in property-liability insurance: Theory and empirical tests," Bell Journal of Economics and Management Science, 10, 192-210.
Fama, E., 1980, "Agency problems and the theory of the firm," Journal of Political Economy, Vol. 88, No21, 280-307.
Fecher, F. and P. Pestieau, 1993, "Efficiecny and Competition in O.E.C.D. financial services, " in H.O. Fried, C.A.K. Lovell and S.S. Shelton eds. The Measurement of Production Efficiency: Techniques and Applications, (Oxford University Press) 374- 385.
Ferrier, G. and C.A.K. Lovell, 1990,"Measuring cost efficiency in banking: Econometric and linear programming evidence," Journal of Econometrics, 46: 229-245.
Fields, J. A. and N. Murphy, 1989, "An analysis of efficiency in the delivery of financial services: The case of life insurance agencies," Journal of Financial Services Research, Vol.2, 323-356.
Fields, J. A. and E. C. Venezian, 1989,"Interest rates and profit cycles: A disaggregate approach," Journal o Risk and Insurance, 56, 312-319.
Gardner, L. A. and M. F. Grace, 1993, "X-efficiency in the US life insurance industry," Journal of Banking and Finance, Vol.17, 497-510.
Garven, J. R. and J. Lamm-Tennant, 1997,"The demand for reinsurance: Theory and empirical tests," working paper.
Glass, J. C., D. G. Mckillop and N. Hyndman, 1995," Efficiency in the provision of university teaching and research: An empirical analysis of UK university," Journal of Applied Econometrics,10, 61-72.
Goldberg, L. G. and A. Rai, 1996, "The structure-performance relationship for European banking," Journal of Banking & Finance, 20, 745-771.
Grace, M. F. and J. L. Hotchkiss, 1995,"External impacts on the property-liability insurance cycle," Journal of Risk and Insurance, 62, 738-754.
Granger, C. and P. Newbold, 1974,"Spurious regression in econometrics," Journal of Econometrics, 2, 111-120.
Greene, W. H., 1997, Econometric Analysis. (New Jersey: Prentice Hall)
Gron, A., 1994,"Capacity constraints and cycles in property-Casualty insurance markets," Journal of Law and Economics, 25, 110-127.
Gropper, D. M., 1995, "Product-line deregulation and the cost structure of U.S. saving and loan associations," Applied Economics, 27, 183-191.
Haley, J. D., 1993,"A cointegration analysis of the relationship between underwriting margins and interest rats," Journal of Risk and Insurance, 60: 480-493.
Haley, J. D., 1995, "A by-line cointegration analysis of underwriting margins and interest rates in the property-liability insurance industry," Journal of Risk and Insurance, 62, 755-763.
Halpern, P. J. and G. F. Mathewson, 1975, "Economies of scale in financial institutions: A general model applied to insurance," Journal of Monetary Economies, Vol. 1, 203-220.
Harrington, S., 1984,"The impact o rate regulation on prices and underwriting results in the property-liability insurance industry: A survey," Journal of Risk and Insurance, 51, 577-623.
Hill, R. D., 1979,"Profit regulation in property-liability insurance," Bell Journal of Economics and Management Science, 10, 179-191.
Houston, D. B. and R. M. Simon, 1970, "Economies of scale in financial institution: A study in life insurance," Econometrica, Vol.38, Nov., 856-864.
Hsiao, C., 1985,"Bebefits and limitations of panel data," Econometric Reviews, 4, 121-174.
Hsiao, C., 1986, Analysis of Panel Data. (Cambridge University Press).
Insurance Service Offices, 1992, Changes in the Economic Environment: Insurance Implications (New York: ISO).
Kellner, S., and G. F. Mathewson, 1983, "Entry, size distribution, scale, and scope economies in the life insurance industry," Journal of Business, Vol.56, No.1, 25- 44.
Kihlstrom, R. and M. Pauly, 1971,"The role of insurance in the allocation of risk," American Economic Review, 61, 371-379.
Kmenta, J., 1986, Elements of Econometrics. (New York: Macmillan)
Kraus, Alan and Stephen A. Ross, 1982,"The determination of fair profits for the property-liability insurance firm," Journal of Finance, 37, 1015-1028.
Lamm-Tennant, J. and M. A. Weiss, 1997,"International insurance cycles: Rational expectations /institutional intervention," Journal of Risk and Insurance, 64, 416-439.
Leibenstein, H., 1966,"Allocational efficiency vs. X-efficiency," American Economic Review, 56, 392-415.
MacKinnon, J. G.,1991,"Critical values for cointegration test," in: R. F. Engle & C.W. J. Granger eds., Long-run Economic Relationships: Reading in Cointegration, (U.K. Oxford University Press).
Mayers, D. and C. W. Smith, 1981,"Contractual provisions, organizational structure, and conflict control in insurance markets," Journal of Business, 54, 407-434.
Mayers, D. and C. W. Smith, 1982,"On the corporate demand for insurance," Journal of Business, 55, 281-96.
Mayers, D. and C. W. Smith, 1990,"On the corporate demand for insurance: Evidence from the reinsurance market," Journal of Business, 63, 19-40.
Mayers, T. C. and R. C. Cohn, 1987,"A discounted cash flow approach to property-liability insurance rate regulation," in: J. David Cummins and Scott Harrington, ed., Fair Rate of Return in Property-Liability Insurance (Norwell, Mass.: Kluwer Academic Publishers).
Meador, J. W., H. E. Ryan, and C. D. Schellhorn, 1997, "Product focus versus diversification: Estimates of X-efficiency for the US life insurance industry," Working Paper, Wharton Financial Institutions Centers, University of Pennsylvania.
Meeusen, W. and J. Broeck, 1977, "Efficiency estimation from Cobb-Douglas production function with composed error," International Economic Review, 18(2), 435-444.
Mester, L. J., 1993, "Efficiency in the saving and loan industry", Journal of Banking Finance, 17, 267-286.
O''Brien, C. D., 1991, "Measuring output of life insurance companies, " The Geneva Papers on Risk and Insurance: Issues and Practices, Vol.59, April, 207-235.
Outreville, J. F., 1990,"Underwriting cycles and rate regulation in automobile insurance markets, Journal of Insurance Regulation, 9, 274-286.
Praetz, P., 1980, "Return to scale in US life insurance industry," Journal of Risk and Insurance, Vol. 47, 525-533.
Rai, A., 1996, "Cost efficiency of international insurance firms," Journal of Financial Services Research 10, 213-233.
Reece, W. S., 1992, "Output price indexes for the US life insurance industry," Journal of Risk and Insurance, Vol. LIX, March, 104-115.
Schmidt, P. and R.C. Sickles, 1984, "Production frontiers and panel data," Journal of Business and Economic Statistics, 2, 367-374.
Smith, M., 1989,"Investment returns and yields to holders of insurance," Journal of Business, 62: 81-98.
Smith, C. W. and R. Stulz, 1985,"The determinants of a firm''s hedging policies," Journal of Financial and Quantitative Analysis, 20, 391-406.
Sommer, D. W., 1996,"The impact of firm risk on property-liability insurance prices," Journal of Risk and Insurance, 63, 501-514.
Stewart, B., 1981,"Profit cycles in property-liability insurance," in: John D. Long, ed., Issues in Insurance. (Malvern, Penn.: American Institute for Property-Liability Underwriting).
Stigler, G.J., 1964, "A theory of oligopoly," Journal of Political Economy, 72, 44-61.
Tennyson, S., 1991,"The effects of regulation on underwriting cycles", CPCU Journal, 44, 33-38.
Titman, S. and R. Wessels, 1988,"The determinants of capital structure choice," Journal of Finance, 43, 1-19.
Urrutia, J. L., 1996,"What triggers the underwriting cycle?" International Journal of Finance 8: 1-14.
Venezian, E. C., 1985,"Ratemaing methods and profit cycles in property and liability insurance," Journal of Risk and Insurance, 52, 477-500.
Warner, J., 1977,"Bankruptcy costs: Some evidence," Journal of Finance, 32, 337-347.
Weiss, M. A., 1986, "Analysis of production at the firm level: An application to life insurers," Journal of Risk and Insurance, Vol. LIII, No.1, March, 49-83.
Winter, R. A., 1994,"The Dynamics of Competitive Insurance Markets," Journal of Financial Intermediation, 3, 279-315.
Witt, R. C. and H. Mlller, 1981,"Price competition, regulation, and systematic underwriting risk in auto insurance markets," CPCU Journal, 34, 202-220.
Yuengert, A. M., 1993, "The measurement of efficiency in life insurance: Estimates of a mixed normal-gamma error model," Journal of Banking and Finance, Vol. 17, 483-496.
Zellner, A., 1962,"An efficient method of estimating seemingly unrelated regressions and tests for aggregation bias," Journal of the American Statistical Association, 57, 348-368.