Abstract
Based on the latest method of total factor productivity research at home and abroad, this paper uses the panel data of 17 Chinese life insurance companies from 2007 to 2016 to estimate the total factor productivity of Chinese insurance companies using the Malmquist index analysis method of DEA model. The measurement method is a regression analysis of several factors affecting the total factor productivity of Chinese insurance companies. The empirical results show that among the micro factors, the asset-liability ratio, asset turnover, operating efficiency and company size have a significant impact on the total factor growth rate of Chinese life insurance companies. Among the macro factors, GDP growth rate, inflation rate and unemployment rate have a significant impact on the total factor growth rate of Chinese life insurance companies.
Highlights
In recent years, the rapid development of insurance industry has become a highlight of China's national economic growth
The results showed that the American life insurance industry in general had economies of scale
Based on the panel data of 17 Chinese life insurance companies from 2007 to 2016 and Malmquist exponential analysis method based on non-parametric Data Envelopment Analysis (DEA) model, this paper calculates the total factor productivity of Chinese life insurance companies and takes the total factor productivity value as the explanatory variable to construct a panel data model, so as to explore the micro and macro factors that affect the total factor productivity of Chinese life insurance companies
Summary
The rapid development of insurance industry has become a highlight of China's national economic growth. Based on the data of 17 Chinese-funded insurance companies from 2007 to 2016, this paper uses Malmquist productivity index method of non-parametric DEA model to estimate the total factor productivity of Chinese-funded insurance companies. The total factor productivity of Chinese life insurance companies is estimated by Malmquist exponential model based on DEA method and its decomposition. Selection of Input-Output Variables Using DEA-Malmquist index analysis model to calculate the total factor productivity of Chinese life insurance companies, the key problem is to select input and output indicators. Because the production and operation modes of insurance companies are quite different from those of other types of enterprises, it is very important to select input and output indicators when calculating the total factor productivity of Chinese life insurance companies.
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