| 中国财产保险公司资本结构的影响因素 |
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| 引用本文： | 王向楠,梁晶.中国财产保险公司资本结构的影响因素[J].经济与管理,2012,26(1):92-96. |
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| 作者姓名： | 王向楠 梁晶 |
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| 作者单位： | 1. 西南财经大学保险学院,四川成都,611130
2. 中国保险学会保险研究中心,北京,100033 |
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| 摘 要： | 利用1998-2009年中国大陆地区财产保险公司的业务数据和财务数据,通过差分GMM方法实证研究中国财产保险公司资本结构的影响因素发现:中国财产保险公司的目标负债水平与公司规模、再保险利用、公司成熟度的关联显著为正,与利润波动性的关联显著为负,而与产品分散化、地理分散化、产品收支间隔期的关联不显著.
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| 关 键 词： | 财产保险公司 资本结构 影响因素 |
Determinants of the Capital Structure of Property and Liability Insurance Firms in China |
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| Wang Xiangnan
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Liang Jing.Determinants of the Capital Structure of Property and Liability Insurance Firms in China[J].Economy and Management,2012,26(1):92-96. |
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| Authors: | Wang Xiangnan Liang Jing |
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| Institution: | 1.School of Insurance,Southwestern University of Finance and Economics,Chengdu 611130,China;2.Center for Insurance Research,China’s Insurance Committee,Beijing 100033,China) |
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| Abstract: | This paper makes an empirical research through difference GMM on the determinants of the capital structure of property and liability(P&L)insurance firms in China by using the business data and financial report data of China mainland area P&L insurance firms from 1998 to 2009.The result shows that the target debt-to-asset ratio is significantly positive relevant to the firm size,the degree of reinsurance utilization,and the firm age,however,the relevance with the profit fluctuation is significantly negative,and the business-line diversification,geographical diversification and the interval between expenses and receipts are found to be of little significance. |
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| Keywords: | property and liability insurance firms capital structure determinants |
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