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基于2009~2012年中国44家产险公司的面板数据,研究中国产险公司的规模、业务多样化对经营效率的作用。首次采用考虑了边际效应非单调性的Wang(2002)的“一步法”随机前沿分析模型进行估计。研究发现:规模扩大会降低产险公司的成本效率并且提高利润效率,公司规模对成本效率和利润效率的影响都是递减的;业务多样化越高的产险公司的成本效率和利润效率都越高,产险公司存在多样化溢价,公司的业务多样化程度还未达到最优水平。此外,市场竞争正向影响产险公司效率,而通货膨胀负向影响产险公司效率。
Based on the panel data of 44 property and casualty companies in China from 2009 to 2012, the paper examines the role of Chinese property and casualty insurance companies in their size and diversification of business operations. For the first time, Wang ’s (2002) “one-step ” stochastic frontier analysis model considering the non-monotonicity of marginal effects is used for estimation. The study found that: the expansion of scale will reduce the cost-effectiveness of property and casualty insurance companies and improve the profit efficiency, the impact of the size of the company on cost-effectiveness and profit efficiency are diminishing; the higher the diversification of business-oriented insurance companies cost-effective and profit efficiency High, property and casualty insurance companies have diversified premiums, the company’s business diversification has not yet reached the optimal level. In addition, the market competition positively affects the efficiency of property and casualty insurance companies, while the negative impact of inflation on the efficiency of property and casualty insurance companies.