策略運用影響績效？台灣產險業之實證

How Do Strategies Affect Performance? Evidence from Taiwan's Property and Casualty Insurance Industry

10.30003/JRM.201106.0003

賴丞坡(Cheng-Po Lai)；黃麗夙(Li-Su Huang)；林文昌(Wen-Chang Lin)

產險業 ； 策略 ； 追蹤型資料 ； Property and Casualty Insurance Industry ； Strategies ； Panel Data

風險管理學報

13卷1期（2011 / 06 / 01）

49 - 72

繁體中文

本研究檢視台灣產險業策略運用對於績效之影響，以1985至2004年國內產險公司為研究對象，先依據各公司策略構面與相關變數，使用階層群集法分組，並透過分類矩陣確認分群正確率；最後，運用追蹤型資料之最小平方法探討影響台灣產險業績效之主要策略因素。結果發現台灣產險業存有策略群組，不同策略群組之核保績效存在顯著差異；且公司規模、公司年齡、槓桿比率與股票投資比率對於公司核保績效具有正向顯著影響。

This study investigates the impact of strategies on performance in Taiwan's property and casualty insurance industry. Using the data of property and casualty companies in Taiwan from 1985 to 2004, we initially utilize the hierarchical cluster analysis to examine if there are various strategic groups existing in the insurance market according to their strategic dimensions and verify the clustering accuracy through classification matrix. Further, we carry out a panel data regression analysis to identify the strategies that significantly affect the insurers' performance. The findings reveal that there exist strategic groups and their underwriting performance varies significantly. The results also indicate that size, age, leverage and investment influence the insurers' underwriting performance significantly and positively.

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