臺灣博碩士論文加值系統

再保險是移轉保險風險及調節資本風險的重要風險管理工具，對於產險業的經營有著舉足輕重的地位。本研究將藉由具體數據，比較並探討兩岸產險業者在再保險交易、經營績效與盈餘管理之關係。所採用樣本包括2009年至2018年的14家台資產險業及2010年至2018年的29家中資產險業。應用縱橫資料迴歸及分量迴歸方式，分別探討再保險交易和自留綜合率與盈餘管理、銷售報酬率、核保風險、財務槓桿、公司規模、市場佔有率、現金比率以及保險槓桿之間的關係。實證結果顯示，再保險交易量增加會導致銷售報酬率的增加，其影響對台灣產險公司尤其顯著。中國大陸產險公司的自留綜合率較高，導致高財務槓桿，以及較高破產風險。台灣產險公司較大陸產險公司更注重利用再保險交易來達到損益平穩化，以降低監理成本。

Reinsurance is an indispensable risk management tool that facilitates underwriting risk transfer, and capital risk mitigation of the property insurance industry. In this study, the relationships between business performance and earnings management in reinsurance transactions of cross-strait (Taiwan and China) property insurers are investigated. Data for this study include those of 14 Taiwan property insurers from 2009 to 2018, as well as 29 Chinese property insurers from 2010 to 2018. Both longitudinal and cross-sectional data regression, as well as quantile regression methods, are applied to explore the relationships between reinsurance transactions and several factors including retention ratios, earnings management, sales return rate, underwriting risk, financial leverage, company size, market share, cash ratio, and insurance leverage. Data analysis results show that an increase in reinsurance trading volume will result in an increase in the rate of return on sales. The impact is particularly significant for Taiwanese property and casualty companies. China's property and casualty insurance companies have a high retention rate, resulting in higher financial leverage and a higher risk of bankruptcy. Taiwan property insurance companies put more emphasis than their Chinese counterparts on using reinsurance transactions to smooth profits and losses variations to mitigate regulatory overhead.

第一章 緒論 1
第一節 研究背景 1
第二節 研究動機 2
第三節 研究目的 4
第四節 研究範圍及流程 4
第二章 文獻回顧 6
第一節 再保險交易的意義及功能 6
第二節 再保險交易之需求動機 7
第三節 經營績效 9
第四節 盈餘管理 10
第五節 小結 13
第三章 研究方法 14
第一節 研究架構 14
第二節 研究設計及研究假設 15
第三節 模型建立及變數衡量 16
第四節 資料來源與樣本選取 28
第四章 實證結果與分析 32
第一節 兩岸產險業環境 32
第二節 敘述性統計分析 35
第三節 各變數之關聯性分析 37
第四節 敏感性分析 48
第五節 小結 55
第五章 結論與建議 58
第一節 實證結果彙總與結論 58
第二節 研究貢獻 59
第三節 政策意涵 60
第四節 研究限制與建議 61
參考文獻 62

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