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研究生:李奇愛
研究生(外文):Lee, CHI-AI
論文名稱: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
論文名稱(外文):Evaluation of the operational efficiency of sales and investment of life insurance companies in China – An Application of the Dynamic Network SBM Model
指導教授:邱永和邱永和引用關係傅祖壇傅祖壇引用關係
指導教授(外文):CHIU, YUNG-HOFU, TSU-TAN
口試委員:邱永和傅祖壇胡均立李 揚陳澤義張靜貞楊永列
口試委員(外文):CHIU, YUNG-HOFU, TSU-TANHU, JIN-LILI, YANGCHEN, TSER-YIETHCHANG, CHING-CHENGYANG, YUNG-LIEH
口試日期:2017-06-03
學位類別:博士
校院名稱:東吳大學
系所名稱:經濟學系
學門:社會及行為科學學門
學類:經濟學類
論文種類:學術論文
論文出版年:2017
畢業學年度:105
語文別:中文
論文頁數:104
中文關鍵詞: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
外文關鍵詞:the life insurance companies in Chinadynamic network SBM DEAefficiencyproductivitylinkscarry-over
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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.
第一章 緒論……………………………………………………………………………………………………..1
   1.1 研究動機與背景…………………………………………………………………………………1
   1.2 研究目的…………………………………………………………………………………………….3
1.3 研究流程…………………………………………………………………………………………….3
第二章 文獻探討………………………………………………………………………………………….….5
2.1 DEA 模型之發展………………………………………………………………………..………5
2.2 保險業運用DEA 模型評估績效之文獻…………………………………………….8
2.3 中國保險業及壽險業績效探討文獻…………………………………………………12
第三章 中國保險業發展之歷史回顧及現況發展………………………………………….17
   3.1 中國保險業的發展歷史……………………………………………………………………17
3.1.1 中國保險業發展初期…………………………………………………………………17
3.1.2 加入WTO前之中國保險業……………………………………………………..17
3.1.3 加入WTO後之中國保險業………………………………………………….….19
3.2 中國壽險市場現況…………………………………………………………………………...22
3.2.1 保險公司資產規模…………………………………………………………………..22
3.2.2 保險費收入……………………………………………………………………………...24
3.2.3 保險賠款給付及保險資金運用……………………………………………....26
3.3 中國壽險公司股權結構………………………………………………….………………..29
第四章 研究方法及變數設定………………………………………………….…………………….37
4.1 研究方法………………………………………………….…………………………………..37
4.2 變數設定………………………………………………….…………………………………..45
4.2.1 銷售部門變數設定……………………………………………….……………47
4.2.2 投資部門變數設定………………………………………………….…………..48
4.2.3 Link及Carry-over變數設定……………………………….……...49

第五章 實證結果………………………………….………………………………………………………..54
5.1 技術效率分析………………………………….………………………………….….……54
5.1.1 整體效率分析………………………………….…………………………..………54
5.1.2 銷售效率及投資效率分析………………………………….……………...…56
5.1.3 中資壽險公司與外(合)資壽險公司效率比較…………………..57
5.1.4 跨期動態效率分析………………………………….…………………………………60
   5.2 TFP指數之變動及分解………………………………….………………………..64
5.2.1 銷售部門TFP指數分解………………………………….…….…………..65
5.2.2 投資部門TFP指數分解………………………………….……….………..68
5.2.3 中資與外(合)資公司生產力比較………………………….…..70
5.3 Links及Carry-overs之效率分析………………………….…….…………………74
5.4股權結構對中國壽險公司生產效率之影響………………..……….78
第六章 結論與建議………………………….…….…………………………………….………….……82
6.1結論………………………….…….…………………………………….………………………..…..82
6.2建議………………………….…….…………………………………….……………….………..….84
6.3研究限制及未來展望…………………….…….……………………………………..………86
6.3.1 限究限制………………………….…….………………………………….………..………86
6.3.2 未來展望………………………….…….…………………………………….…….….……86
參考文獻………………………….…….…………………………………….…………………….…………..……87

壹、期刊
一、中文
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陳虹蒨與胡均立(2008),「經環境效果及統計噪音調整後的台灣地區人壽保險公司經營效率」,保險經營與制度,第7卷第2期, 189-206頁。
黃台心、高棟樑、姜麗智與梁嘉惠(2010) ,「我國壽險業考慮準固定投入後的效率與生產力變動分析」,東吳經濟商學學報,第68期, 1-38頁。
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黃薇(2011),「外資進入對中國保險業效率的影響」,金融研究,第3期, 72-85頁。
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劉連生與李民(2012),「中國保險投資效益實證分析」,保險學報,第8期, 9-19頁。
劉玉煥(2013) ,「壽險產品集中度對保險公司經營綪效的影響及傳導路徑研究」,南方金融,第445期, 64-69頁。
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蔣綿綿、杜朝運與常雪凌(2015) ,「中國壽險公司股權結構與成本效率關係的實證研究」,統計與信息論壇,第30卷第6期,67-72頁。
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二、英文
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貳、書籍
林惠玲與陳正倉(2009),統計學。台北:雙葉書廊有限公司。

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