The Study On Efficiency Of The Insurance Industry In China Based On Bootstrap Method

Empirical Analysis of changes in the efficiency of the insurance industry is the point of the current academic research. Most studies use DEA-based Malmqusit index analysis. But the use of the method of insurance efficiency estimates is only a point estimate based on the number of samples given.For robust estimate of the impact factors of insurance changes and analyzing the efficiency of the insurance industry efficiency, this paper adopts the Bootstrapped Malmqusit method to calculate the2002-2010changes in the efficiency of the21insurance companies in China and decomposition analysis.The paper select capital, fixed assets, the cost and labor as input indicators, net income and net premium income as output indicators. First, the use of the Bootstrap method to estimate the technical efficiency of the21insurance companies and their confidence intervals, and improve the efficiency measure of the accuracy of the Bootstrap correction. Empirical evidence shows that the Bootstrap method has obvious advantages in the efficiency estimates.Then the article calculate the Bootstrapped Malmqusit index, and this decomposition studies detailed analysis several aspects of the changes and trends about insurance efficiency of pure efficiency change, scale efficiency change, pure technical change and scale technical change. Analysis showed that:the overall technical efficiency of the insurance industry and has not been growth during2002-2010, the insurance industry’s level of overall technical efficiency improved after2008. Technical efficiency values of the various types of insurance company is less than or equal to1, and the value of technical efficiency tends to improve after2008, indicating that the technical efficiency of Chinese insurance industry has not been progress but has improved in recent years.the purely technical changes in the value of the other three types of insurance companies except foreign insurance companies is greater than1during2002-2010, and the whole purely technical change value of the insurance industry is greater than1, indicating that technological progress is the main driving force of promoting the efficiency...