發(fā)布時(shí)間：2019-02-18 13:41

【摘要】：利用2009-2014年45家財(cái)產(chǎn)險(xiǎn)公司的面板數(shù)據(jù),本文構(gòu)建了針對(duì)我國產(chǎn)險(xiǎn)業(yè)資本、償付能力和風(fēng)險(xiǎn)調(diào)整的門限回歸聯(lián)立方程,研究了產(chǎn)險(xiǎn)公司資本和風(fēng)險(xiǎn)調(diào)整的異質(zhì)性特征。門限效應(yīng)的檢驗(yàn)結(jié)果表明,資本調(diào)整的行動(dòng)臨界值分別是167.42%和368.51%,承保風(fēng)險(xiǎn)調(diào)整的行動(dòng)臨界值分別是362.94%和189.99%。門限回歸模型的估計(jì)結(jié)果表明,雖然在監(jiān)管高壓區(qū)監(jiān)管壓力對(duì)資本和承保風(fēng)險(xiǎn)調(diào)整起到了一定的約束作用,但是整體而言,資本和承保風(fēng)險(xiǎn)、投資風(fēng)險(xiǎn)的良性作用機(jī)制尚未形成;監(jiān)管中壓區(qū)公司資本和風(fēng)險(xiǎn)調(diào)整的作用機(jī)制要優(yōu)于監(jiān)管高壓區(qū)和監(jiān)管低壓區(qū),各財(cái)產(chǎn)保險(xiǎn)公司需要實(shí)現(xiàn)資本和風(fēng)險(xiǎn)的合理匹配和良性互動(dòng),使自身處于"監(jiān)管適度"的健康環(huán)境中。
[Abstract]:Based on the panel data of 45 property insurance companies from 2009-2014, this paper constructs the threshold regression simultaneous equation for the adjustment of capital, solvency and risk in China's property insurance industry, and studies the heterogeneity characteristics of capital and risk adjustment of property insurance companies. The test results of threshold effect show that the action critical value of capital adjustment is 167.42% and 368.51% respectively, and the action critical value of underwriting risk adjustment is 362.94% and 189.99% respectively. The results of the threshold regression model show that although regulatory pressure in the regulatory high pressure area has a certain constraint on the adjustment of capital and underwriting risk, the overall capital and underwriting risk, The benign mechanism of investment risk has not been formed; The mechanism of regulating the capital and risk adjustment of the company in the middle pressure zone is better than that in the high pressure area and the low pressure area. The property insurance companies need to realize the reasonable matching and benign interaction between the capital and the risk. Put oneself in a healthy environment of "moderate supervision".
【作者單位】： 中央財(cái)經(jīng)大學(xué)保險(xiǎn)學(xué)院;
【基金】：國家自然科學(xué)基金青年項(xiàng)目(71403305) 教育部人文社科研究項(xiàng)目(14YJC790118)
【分類號(hào)】：F840.4;F842.3

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