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Study On The Mechanism Of Employment Effect Of Insurance Industry In China

Posted on:2019-07-04Degree:DoctorType:Dissertation
Country:ChinaCandidate:X LiFull Text:PDF
GTID:1367330551450185Subject:Finance
Abstract/Summary:PDF Full Text Request
With the continuous development of economy and society,insurance industry,as an important part of modern service industry,has become increasingly prominent in the economy.China has become the most important emerging insurance country in the world,with increasing international status and influence and increasing service capacity.Insurance gradually penetrates into various fields of social and economic life and plays an important role in promoting economic development and expanding employment.Employment is the fundamental goal of the economic development of a country.In recent years,the government has implemented a series of active employment policies,and the development of employment has become an important strategy.From the existing literature,the theory has elaborated on the function of insurance,but with less discuss on employment effect of the insurance industry,especially for inner transmission mechanism of the effect of indirect employment rarely involved.Whether from the mastery of domestic and foreign literatures,or from the breadth and depth of the research,there are still a lot of deficiencies,which need to be further advanced.How does the development of the insurance industry affect the employment level? What is the transmission mechanism of indirect employment effect of insurance industry? In addition,from the micro perspective of enterprises,labor force is an indispensable input factor for the production and operation of enterprises.Does the development of the insurance industry promote the employment growth of enterprises? Based on the above problems and research background,this paper studies the mechanism of employment effect of insurance industry.The logical thinking of the thesis is as follows: theoretical basis,transmission mechanism analysis and empirical test section.On the basis of the theoretical basis,first of all,according to the concept definition,it can be divided into insurance direct employment effect and indirect employment effect,and on this basis,the theoretical basis of employment effect is expounded.First,the direct employment effect of insurance industry is theoretically explained through industrial structure theory.Industrial structure theory,including the Patty-Clarke Theorem,Kuznets Law and Ballmer-Fuchs Hypothesis,which reveals the trend of the economic structure and employment structure,and provide theoretical explanation for the direct employment effects of the insurance industry at the present stage in China.Secondly,the development and evolution process of the western employment theory is sorted out.From the perspective of the evolution of western theory of employment,employment research turned gradually from the macroscopic study to microcosmic labor market,and researched the government policy,the macroeconomic factors and salary factor impact on employment levels,provide certain theoretical support for the macroscopic and microscopic conduction mechanism to indirect employment effects of the insurance industry.Finally,the enterprise theory is combed,which provides a theoretical basis for macro and micro-indirect employment effects.With the deepening of the understanding of nature of enterprise,has formed many different research direction of enterprise theory,from Adam Smith as the representative of the classical theory of enterprise,to Marshall,David Ricardo represented by the new classical theory of enterprise,to Ronald Coase and Oliver Williamson based on the theory of transaction cost and contract theory of modern enterprise.This paper mainly reviews the theory of neoclassical enterprise and some viewpoints of modern enterprise theory,and provides a micro theoretical basis for the transmission mechanism of the indirect employment effect of insurance industry.The analysis of transmission mechanism is based on macro and micro perspectives respectively.In the research of macroscopic conduction mechanism,economic growth is included into the framework to analyze the macro transmission mechanism of indirect employment effect.First,according to modern macroeconomic theory,a country's economic growth is mainly driven by consumption,investment and export.Insurance as a risk management tool,can play the economic compensation,financing and social management and other functions,can create positive on consumption,investment and exports,the effects of driving economic growth.Then,on the basis of the Phillips Curve and two Okun's Law,we introduce enterprise production function model to analysis the effect of economic growth to employment.In microscopic conduction mechanism of the study,the indirect effect of the micro foundation and the transmission mechanism,the development of insurance industry can reduce the risk of the enterprise and ease the agency conflict,lower borrowing costs and expand external channel of financing way to affect the financing ability of the enterprise.The demand of the labor force is affected by the production level and investment,the higher the financing level,the more effective investment projects,the larger the production scale,the greater the demand for labor force.Therefore,the development of insurance industry will affect the level of employment by affecting the financing capacity of enterprises.Through reasonable hypothesis,the insurance development variables are included in the search matching model,and the influence of the development of insurance industry on the employment level of enterprises is analyzed through model deduction.The main purpose of the empirical test is to examine the employment effect of insurance and its transmission mechanism,which is divided into three chapters.First of all,from two aspects: employment scale and quality of employment to comprehensive research the direct employment absorption effect of the insurance industry,the employment elasticity coefficient,structure deviation degree,and the regression model analysis method to study the employment scale,shows that the insurance industry in our country's labor intensity is higher,the insurance market is still a lot of labor demand,the scale of the insurance industry,direct employment effect is remarkable.In addition,from the employment structure,employment compensation and employment stability,the analysis of the employment quality effect.This paper argues that the quality effect of the direct employment of insurance industry is significant,which can help to attract women's employment and provide higher level of compensation,but it still needs to be improved in terms of educational level and employment stability.Secondly,the macro-conduction mechanism of indirect effect is verified by economic growth.In controlling other macro variables,on the basis of inspection insurance industry development level of employment for society as a whole,and use the Sobel(1982),Baron & Kenny(1986)and zhonglin wen(2004,2014),puts forward the mediation effect of test methods,test whether the development of insurance industry by influencing the economic growth and have positive effect on employment.According to the results of empirical analysis,the insurance industry macro indirect employment effect significantly,in most cases the mediation effect of economic growth is exist,and the indirect effect of life insurance,non-life insurance is differences.Finally,the enterprise financing ability is selected as the intermediary variable to verify the micro transmission mechanism of indirect employment effect.In control of other enterprises influence factors,on the basis of inspection to the enterprise employment insurance industry development level,and use the intermediary effect testing method,test whether the development of insurance industry by influencing the enterprise financing ability and have positive effect on employment.According to the results of empirical analysis,microscopic indirect employment effect significantly,the insurance intermediary effect of enterprise financing ability in several models have passed the test of significance,as well as in the sample under the state-owned enterprises and private enterprises are differences.Compared with existing research,the innovation of this paper is mainly reflected in the following aspects:(1)this paper attempts to construct the mechanism of the insurance employment effect.The employment effect has been a hot topic in academic circles in recent years.Although the research in China and abroad has been abundant in recent years,there is little literature on the relationship between the development of insurance industry and employment growth.(2)this paper try to select economic growth as the intermediary variable of the insurance macro indirect employment effect;(3)the micro basis and transmission mechanism of the indirect employment effect of the insurance industry were discussed for the first time.In contrast to the previous tendency of macro employment research,this paper attempts to analyze the micro basis and action channel behind the macro "black box" phenomenon from the enterprise level.(4)the innovation of empirical test method applies the commonly used "mediating effect" test in psychological research to economic analysis.Sobel test method is used in this paper to examine whether the economic growth and the financing capacity of enterprises are the intermediary variables affecting the employment level of the insurance industry.
Keywords/Search Tags:insurance employment effect, direct employment effect, indirect employment effect
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