本研究欲了解有無集團企業背景對本國產險公司經營效率之影響，並透過本國有無集團企業背景產險公司之效率比較，求證關於代理理論之審慎管理假說及費用偏好假說是否成立。本研究運用資料包絡分析法(Data envelopment Analysis, DEA)及cross-frontier analysis評估民國81至90年，17家本國產險公司具集團背景及無集團背景各年度效率情況。另外，採用多元迴歸分析討論產險公司不同經營特性對經營效率的影響。本文亦利用Malmquist生產力指數分析具集團背景及無集團背景產險公司十年來生產力的變動。
本研究之實證研究結果如下：
一、於技術效率，具集團背景及無集團背景產險公司無技術效率差異，表示不論有無集團背景，皆有各自的經營技術優勢，符合審慎管理假說。於成本效率，發現81至85年時具集團背景產險公司之成本結構於生產無集團背景產險公司的產出相對較具成本效率，符合費用偏好假說；但86至90年時，則無集團背景產險公司之成本結構對於自己的產出較具成本效率，不符合費用偏好假說。
二、以多元迴歸分析於81至85年、86至90年，影響無集團背景產險公司效率之因素。本文發現於86至90年，當無集團背景產險公司總資產越小、再保比例越高，其以自己的成本結構進行生產，越顯著較以具集團背景產險公司的成本結構進行生產來得具成本效率。
三、二類產險公司於民國81至90年間生產力皆呈現衰退，且具集團背景產險公司衰退情況較嚴重。二類產險公司生產力衰退主因皆為生產技術的衰退；此外，具集團企業背景產險公司十年來的技術效率有衰退的趨勢，而無集團背景產險公司之技術效率則持續進步。若綜合前面成本效率的結果，則十年來具集團背景產險公司平均效率表現沒有進步跡象；而無集團背景產險公司有改善其效率。 / The purpose of this paper is to examine the effect of“group”background on the property-liability insurance industry in Taiwan. We test the managerial discretion hypothesis and the expense preference hypothesis by comparing the efficiency of the group and independent property-liability insurers. Using the property-liability insurance industry in Taiwan from 1992-2001 as our sample, we use DEA and cross-frontier analysis, and adapt multiple regression analysis to examine the variables which affect the efficiency performance in the property insurance company. We also measure the productivity changes of the group firms and independent firms over ten years.
The empirical results are summarized as follow. First, we find that the technical efficiency results are consistent with the managerial discretion hypothesis, in that there is no difference in the technical efficiency between the group firms and independent firms. The results of cost efficiency between 1992 and 1996 show that the group frontier dominates the independent frontier for independent outputs, supporting the expense preference hypothesis. However, the results of cost efficiency between 1997 and 2001 no more support the expense preference hypothesis in that the independent frontier dominates the group frontier for independent outputs. Second, we find that the independent firms tend to have a comparative advantage over the group firms in the independent cost frontier when the independent firm’s size is smaller or when its reinsurance proportion is higher. Finally, the results of the Malmquist productivity analysis show that the productivity of group firms declines in 1992-2001, and the decay is due to their technical efficiency decreases. Conversely, the productivity of the independent firm improves.
| Identifer | oai:union.ndltd.org:CHENGCHI/G0090358015 |
| Creators | 邱楓民 |
| Publisher | 國立政治大學 |
| Source Sets | National Chengchi University Libraries |
| Language | 中文 |
| Detected Language | English |
| Type | text |
| Rights | Copyright © nccu library on behalf of the copyright holders |
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