Identifying the Configurations to Operating Efficiency in China's Life Insurance Industry Using Fuzzy-Set Qualitative Comparative Analysis

Wei Zhang, Zhiguang Li
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引用次数: 1

Abstract

This paper aims to measure the operating efficiency of 22 Chinese domestic and foreign-funded life insurance companies from 2013 to 2017 and outline the path to achieve high-quality development. The DEA-Malmquist was used to evaluate the total factor productivity on the sample of 22 Chinese domestic and foreign-funded life insurance companies. A fuzzy set qualitative comparative analysis (fsQCA) was also used to analyze the configuration of determinants affecting technical efficiency. The results show that the overall operating efficiency of life insurance companies in China is relatively satisfying. The changes in total factor productivity are mainly caused by changes in technical efficiency and changes in efficiency. However, changes in scale efficiency have little effect on Chinese domestic and foreign-funded life insurance companies. There is a significant difference in the operating efficiency between Chinese domestic and foreign-funded life insurance companies. In contrast, the operating efficiency is slightly higher than that of foreign-funded life insurance companies, which is mainly reflected in the difference in pure technical efficiency. The realization path of a life insurance company’s operating efficiency is primarily composed of high employee education and low overclosing ratio, high employee education and low reinsurance ratio, and all-factor positive investment. The weak employee quality and excessive overclosing are the main reasons for the low operating efficiency of some enterprises. This paper systematically analyzes the impact of the organization’s internal structure on the operating efficiency of life insurance companies. Finally, based on the configuration perspective, we explain the internal logic and path of achieving better operating efficiency. In the end, we also provide decision-making references for further improving the efficient operation of life insurance companies in China.
运用模糊集定性比较分析法确定中国寿险行业经营效率的配置
本文旨在对2013年至2017年22家中国内外资寿险公司的经营效率进行测度,勾勒出实现高质量发展的路径。采用DEA-Malmquist对22家中外合资寿险公司的全要素生产率进行了评价。采用模糊集定性比较分析法(fsQCA)对影响技术效率的决定因素进行了分析。结果表明,中国寿险公司的整体经营效率是比较令人满意的。全要素生产率的变化主要是由技术效率的变化和效率的变化引起的。然而,规模效率的变化对中国境内和外资寿险公司的影响不大。中国内资和外资寿险公司的经营效率存在显著差异。相比之下,经营效率略高于外资寿险公司,这主要体现在纯技术效率上的差异。寿险公司经营效率的实现路径主要由高员工教育低过盈率、高员工教育低再保率和全因素正投资构成。员工素质薄弱、过度封闭是部分企业经营效率低下的主要原因。本文系统地分析了组织内部结构对寿险公司经营效率的影响。最后,从配置的角度解释了实现更高运行效率的内在逻辑和路径。最后,为进一步提高中国寿险公司的高效运营提供决策参考。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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