An Empirical Study Of The Margin Trading Of The Insurance Companies Listed On The Influence

With the continuous development of China's insurance industry, insurance industry status quo is also undergoing profound changes, thanks to a series of policy measures, China's insurance market booming, many insurance companies to achieve a listing. Listing to the insurance company brought the most direct good is to broaden the capital financing channels. Make full use of the capital market to raise funds to improve underwriting capacity and solvency, and improve market competitiveness. At present, in the current market environment, the company benefited from the listing of listed insurance companies in China to enhance the market competitiveness, but also to promote the sustainable development of the insurance industry. At the same time, since 2010 March 31st, with the China officially launched the pilot of margin trading business, the financial innovation tool has finally entered a substantive stage. Marking the unilateral market in China's securities market has become history, bilateral curtain is opened, for China's securities market, is undoubtedly an epoch-making change, as a way to establish milepost in the development of China's stock market. Thanks to China's capital market continues to improve and develop at the same time, China's Insurance Listed Company through rapid accumulation of capital capacity and solvency to enhance competitiveness, establish a modern enterprise system, improve the operation of the company. Then, as China's capital market is not mature, the insurance company in the market, probably because investors are not rational market risk and make its capital by effect, directly affect the Insurance Company underwriting capacity and solvency, it will restrict the development of our insurance industry.This article mainly from the margin perspective, the specific impact of margin trading on China's listed insurance companies in the stock market. The introduction of margin trading business, trading system will affect the new to the supply and demand of China's stock market, which has a certain impact on the market, this article mainly from the two characteristics of the main stock market; liquidity and volatility, to observe the impact of margin trading on the market. The accumulation of liquidity and volatility of insurance companies on the stock market will restrict its capital, affect the Insurance Company underwriting capacity and solvency. And although this is a very strong practical significance the study, but before the Study on China's insurance companies listed on the stock market influence is less and less, not a model for reference. And with China's insurance industry further steadily Development, more and more insurance companies will follow in the footsteps, listed on the road, and in recent years, the margin trading business in China's securities market development perspective, studies the financing securities loan of our country insurance companies listed on the stock market has far-reaching significance.In view of this, this article selects the A-shares market margin trading system is introduced, the actual data of China's listed insurance companies operating, through reference margin of listed companies the impact of to explore specific effects on China's insurance companies listed on the stock market. Finally, according to the development situation of insurance industry in our country were discussed.This text aims at finishing the previous research, combing the development process of margin theory, from the theoretical and empirical aspects of financing business expansion theory discussion and Empirical Study on the stock market volatility, and liquidity first, introduce related concepts in the paper, briefly related concepts of the margin and the development status of domestic and foreign financing and domestic market of some of the problems to make paper. Detailed description of the influence mechanism of the margin trading mode of the securities market. Then, in the empirical analysis, based on the Shanghai and Shenzhen two stock data as the research object, collecting relevant data, using the VAR model, the number of Granger causality test method so, the central argument of this paper makes a empirical analysis. Finally, the actual situation of the use of empirical results and the operation of China's securities market, from the strengthening of me The people's Insurance Company of China economic adaptability, optimize the asset structure to reach the purpose of broadening the capital effect; enlarge capital investment; improve the internal corporate governance structure and improving the professional level of employees give some opinions and suggestions.The research conclusions of this paper are as follows:(1) The impact of margin trading on the stock market volatility of China's listed insurance companies is not significant.(2) To improve the liquidity of the stock market of China's listed insurance companies.