Please use this identifier to cite or link to this item: https://ah.nccu.edu.tw/handle/140.119/60046


Title: 人壽保險業之資產配置決策及影響評估
Decision making and impact analysis in asset allocation for Taiwan life insurance industry
Authors: 蔡沛然
Contributors: 張士傑
蔡沛然
Keywords: 資產配置
追蹤資料模型
財務績效
集群分析
Date: 2010
Issue Date: 2013-09-04 15:01:00 (UTC+8)
Abstract: 資產配置策略會影響公司資產負債管理,觀察國內各壽險業者,其資產配置策略大不相同。因此,本研究欲深入分析各保險公司之資產配置策略對公司之影響,並探討保險公司資產配置決策之影響因素,並透過國內外現況加以比較分析。
資產配置策略由公司相關部門依照風險偏好、負債面考量等各項因素訂定投資決策以及目標報酬率並交由經理人執行。而欲瞭解資產配置策略是否完善,本研究採用追蹤資料模型(Panel data model),以財務績效作為反應變數,並驗證財務績效受到哪些因素影響;此外並以總資產作為分群變數,以集群分析將各公司分群,探討各群內之狀況。
本研究結果發現,公司規模對於稅前股東權益以及稅前每股盈餘有顯著的正向關係,大規模之公司能藉由保險業務之經營創造更高的利潤。人壽保險保費收入比率項對各財務績效指標均無顯著影響;資產風險對投資績效以及稅前每股盈餘有顯著正向影響,此結果顯示提高資產風險能增加投資收益及稅前盈餘;各資產類別對各財務績效指標均有顯著正向影響;不同公司型態間的投資績效以及稅前股東權益報酬率有明顯差異,上市公司之投資績效顯著高於非上市公司;在控制其他變數下,外商公司與本土公司之投資績效無顯著差異,而稅前股東權益報酬率外商公司顯著高於本土公司。稅前每股盈餘資料無法比較不同公司型態間的差異。
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Description: 碩士
國立政治大學
風險管理與保險研究所
98358008
99
Source URI: http://thesis.lib.nccu.edu.tw/record/#G0098358008
Data Type: thesis
Appears in Collections:[風險管理與保險學系 ] 學位論文

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