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    Title: 保險業市場集中度及效率對競爭度之影響 -以日本產險業為例
    The Impact of Insurance Industry Concentration and Efficiency on Competition -Evidence from the Property-Liability Insurance Industry in Japan
    Authors: 蕭維萱
    Hsiao, Wei Hsuan
    Contributors: 鄭士卿
    Jeng, Vivian
    蕭維萱
    Hsiao, Wei Hsuan
    Keywords: 集中度
    效率
    競爭度
    Lerner index
    Concentration
    Efficiency
    Competition
    Lerner index
    Date: 2015
    Issue Date: 2015-08-03 13:22:31 (UTC+8)
    Abstract: 日本政府自1996年實施金融大改革(Big Bang),金融市場從保守走向自由開放,面對競爭越趨激烈的環境,日本產險業開始出現公司併購重組的情形,使得市場越趨集中。無論是市場結構的改變,或是併購亦可能對公司既行營運模式造成改變,進而影響公司的經營效率,都可能對公司的市場壟斷力造成影響,進而影響市場的競爭度。本研究以2001-2012年日本產險市場為研究對象,主要目的在探討市場集中度及公司效率此兩種變數是否會對競爭度產生影響。實證模型採用追蹤資料固定效果模型作分析,並以Lerner指數作為衡量公司市場壟斷力的變數,赫芬達指數作為衡量市場集中度變數,以資料包絡分析法所求出之效率值代表效率變數。實證結果發現,市場集中度對於公司的市場壟斷力無顯著影響,而產險公司效率與公司的壟斷力呈正向關係,當公司效率越高,其壟斷力越高,而市場競爭程度越低。
    Since the Japanese financial system reform, “Big Bang,” was commenced in 1996, the financial market in Japan has been transformed into free and open market. At the same time, the Japanese insurance market became more competitive due to the regulatory changes. Many mergers and acquisitions appeared in Japanese insurance industry and that increased the market concentration. The reform has also changed firm operation modes and then have impact on firm efficiency. Furthermore, the changes of market structure and firm efficiency may have impact on market power and therefore affect the level of competition.
    The objective of this study is to assess the impact of concentration and efficiency on competition in Japanese property-liability insurance industry using the fixed effect model. The research period is from 2001 to 2012. This study utilizes Lerner index to measure market power (competition) and Herfindahl-Hirschman index (HHI) to measure market concentration. And the data envelopment analysis (DEA) method is applied to evaluate the efficiency of insurance companies. The results show that the relation between concentration and competition is not significant. This paper also finds evidence that higher firm efficiency leads to higher market power (lower competition).
    Reference: 一、中文部分
    王儷玲、彭金隆、張義宏,2006,我國壽險業銀行保險業務參與度與經營效率分析,台大管理論叢,17(1),59-90。
    田育青,2008,公營銀行民營化前後經營績效變化之分析,佛光大學經濟學系碩士論文
    江佩珊,2002 ,台灣地區人壽保險業市場結構、行為與績效之研究,朝陽科技大學財務金融系碩士論文。
    李君屏,1994,壽險公司經營效率之衡量-資料包絡法分析之應用,逢甲大學保險學研究所碩士論文。
    洪炳輝,1996,我國人壽保險產業結構、行為、績效分析,國立中興大學經濟學研究所碩士論文。
    胡育寧,2008,台灣產物保險公司併購、市場結構與經營績效,國立政治大學風險管理與保險研究所碩士論文。
    胡靜宜,2006,中國地區人壽保險業策略性經營績效評估之研究-資料包絡分析法之應用,國立成功大學會計學系碩士論文。
    高秀月,2008,臺灣保險業集中度與獲利能力分析,嶺東學報,23,125-147。
    張簡永章,2012,中國產險公司產品多角化與經營績效,保險專刊,28(1),27-59。
    張簡永章、吳明哲、王惠正,2011,中國壽險公司產品多角化與經營績效,保險專刊,27(1),37-66。
    陳禹廷,2003,我國產險業經營績效之研究—資料包絡分析法之應用, 朝陽科技大學保險金融管理研究所碩士論文。
    童宗傑,2001,台灣地區新銀行經營績效比較分析資料包絡分析法之應用,國立中山大學經濟學研究所碩士論文。
    黃台心、高棟梁、姜麗智、梁嘉惠,2010,我國壽險業考慮準固定投入後的效率與生產力變動分析,東吳經濟商學學報,68,1-38。
    廖炳森,2009,亞洲主要國家產物保險業市場結構與績效之關係,國立中正大學財務金融所碩士論文。
    劉純之,1994,壽險公司經營效率評估:本國與外商公司的比較分析,保險專刊,37,114-126。
    劉景中,2011,銀行集中度及效率對市場競爭度的影響:台灣實證研究,經濟論文叢刊,39(1),115-173。
    鄭秀娟,1996,台灣地區壽險業經營績效之研究,銘傳管理學院企業管理研究所碩士論文。
    賴丞坡、薛立言,2004,產險業「結構-行為-績效」之再檢視—以台灣產險業為例,海峽兩岸科學技術研討會暨大學院系長論壇,石油大學(華東)。
    鐘素霞,2005,台灣壽險公司經營績效之研究-金控架構與獨立公司之比較,中原大學企業管理研究所碩士論文。
    二、英文部分
    Bain, J. S., 1951, Relation of Profit Rate to Industry Concentration: American Manufacturing, The Quarterly Journal of Economics, 65(3), 293-324.
    Bikker, J. A., and K. Haaf, 2002, Competition, Concentration and Their Relationship: an Empirical Analysis of the Banking Industry, Journal of Banking & Finance, 26, 2191-2214.
    Breusch, T.S., and A.R. Pagan, 1980, The Lagrange Multiplier Test and Its Applications to Model Specification in Econometrics, Review of Economic Studies, 47, 239-254.
    Casu, B., and C. Girardone, 2006, Bank Competition, Concentration and Efficiency in the Single European Market, The Manchester School, 74(4), 441-468.
    Charnes, A., W. W. Cooper, and E. Rhodes, 1978, Measuring the Efficiency of Decision Making Units, European Journal of Operational Research, 2, 429-444.
    Choi, B. P., and M. A. Weiss, 2005, An Empirical Investigation of Market Structure, Efficiency and Performance in Property-Liability Insurance, Journal of Risk and Insurance, 72(4), 635-673.
    Cummins, J. D., G. Turchetti, and M. A. Weiss, 1996, Productivity and Technical Efficiency in the Italian Insurance Industry, The Wharton School, University of Pennsylvania.
    Demsetz, H., 1973, Industry Structure, Market Rivalry, and Public Policy, Journal of Law and Economics, 16, 1-9.
    Elango, B.Y., L. Ma, and N. Pope, 2008, An Investigation into The Diversification-Performance in The U.S. Property-Liability Insurance Industry, Journal of Risk and Insurance, 75(3), 567-591.
    Farral, M. J., 1957, The Measurement of Productive Efficiency, Journal of the Royal Statistical Society, Series A (General), 120(3), 253-290.
    Fernandez de Guevara, J., J. Maudos, 2007, Explanatory Factors of Market Power in the Banking System, The Manchester School, 75(3), 275-96.
    Fernandez de Guevara, J., J. Maudos., and F. Perez, 2005, Market Power in European Banking Sectors, Journal of Financial Services Research, 27(2), 109-37.
    Fiegenbaum, A., and H. Thomas, 1990, Strategic Groups and Performance: The U.S. Insurance Industry, 1970-84, Strategic Management Journal, 11, 197-215.
    Fukuyama, H., 1997, Investigating Productive Efficiency and Productivity Changes of Japanese Life Insurance Companies, Pacific Basin Finance Journal, 5(4), 481-509.
    Hausman, J. A., 1978, Specification Tests in Econometrics, Econometrica, 46(6), 1251–1271.
    Hsiao, C., 2003, Analysis of Panel Data, 2nd edition, Cambridge University Press.
    Lerner, A. P., 1934, The Concept of Monopoly and the Measurement of Monopoly Power, The Review of Economic Studies, 1(3), 157–175.
    Lo, S. F., and W. M. Lu, 2006, Does Size Matter? Finding the Profitability and Marketability Benchmark of Financial Holding Companies, Asia-Pacific Journal of Operational Research, 23(2), 229-246.


    Luo, X., 2003, Evaluating Profitability and Marketability Efficiency of Large Banks—An Application of Data Envelopment Analysis, Journal of Business Research, 56, 627-635.
    Pope, N., and Y. L. Ma, 2008, The Market Structure–Performance Relationship in the International Insurance Sector, Journal of Risk and Insurance, 75(4), 947-966.
    Seiford, L. M. and J. Zhu, 1999, Profitability and Marketability of the Top 55 U.S. Commercial Banks, Management Science, 45(9), 1270-1288.
    Sigma, 2014. World Insurance in 2013, Sigma, 3, Swiss Re.
    三、日文書籍
    Fact Book,2014,一般社團法人日本損害保險協會。
    日本損害保險統計號,2001-2012,保險研究所。
    四、網站
    日本總務省統計局網站 (http://www.stat.go.jp/)
    日本損害保險協會網站 (http://www.sonpo.or.jp/)
    Description: 碩士
    國立政治大學
    風險管理與保險研究所
    98358015
    Source URI: http://thesis.lib.nccu.edu.tw/record/#G0098358015
    Data Type: thesis
    Appears in Collections:[風險管理與保險學系 ] 學位論文

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