The Research On The Influence Of The Characteristics Of The Board Of Directors Of Chinese Property Insurance Companies On The Illegal Behaviors

In recent years,the rapid development of Chinese insurance industry has had a more significant impact on the national economic life.In 2019,the annual premium income of Chinese property insurance market reached 1.302 trillion yuan,with a year-on-year growth of 10.72%.The continuous growth of the scale of the industry is bound to be accompanied by many problems.Although China has invested a lot of resources to regulate the entire insurance market,illegal behaviors such as charging fees to get funds,giving rebates to policyholders,and fictitious intermediary business occur from time to time.Investors no longer only pay attention to the financial indicators with perfect disclosure,but also start to pay attention to the governance level of the board of directors,the board of supervisors and the managers,and whether the company violates the rules has become the focus of investors.The importance of the board of directors as a link between the owners and management of a company is self-evident.In addition to the general functions of strategic planning and supervision,the board of directors also assumes the functions of internal risk control and compliance operation,playing a certain role in the steady development of the insurance company.If the board of directors can not effectively supervise the decision,it will affect the company's interests and owners' equity.The characteristics of the board of directors are closely related to the occurrence of corporate violations.The more perfect the board of directors system is,the more likely it is to reduce the occurrence of violations.This paper adopts the methods of normative analysis and empirical analysis to study the influence of the characteristics of the board of directors of China's property insurance companies on corporate irregularities.This paper is mainly divided into five parts,the first part is introduction,mainly including the background,significance and methods of the research and paper structure,and explains the possible innovation and shortcomings.The second part is the theoretical basis and literature review,including principal-agent theory,asymmetric information theory and the theory of corporate governance,and then from the equity structure and corporate violations,the board of directors and corporate violations,the board of directors and performance or efficiency of the insurance company irregularities companies,and the insurance company irregularities——elaborates the domestic and foreign scholars in this research,and summarizes the relative research.The third part mainly analyzes the current situation of violation of property insurance companies in China from the perspective of insurance law.The fourth part empirically analyzes the influence of the characteristics of the board of directors of property insurance companies on corporate irregularities.Taking 29 property insurance companies from 2016 to 2018 as samples,it is concluded that the proportion of female directors,the proportion of independent directors and the diversity of directors' education levels are significantly negatively correlated with the punishment of corporate violations.The fifth part is the conclusion and suggestion,combined with the summary of empirical results in the fourth part.Based on this,some Suggestions are put forward for property insurance companies and regulatory departments.One of the possible innovation points of this paper is the first time to put forward the impact of the characteristics of the board of directors of China's property insurance companies on corporate irregularities,in-depth research into the insurance industry,to break through the limitations of public data of listed companies.The second is a measure of innovation for irregularities,different from other literature for irregularities measured by whether violations,in this paper,from the perspective of the insurance company administrative punishment for the first time,according to the insurance law,each company irregularities economic punishment and administrative punishment is weighted processing are explained variable.The disadvantage is that there is room for improvement in the quantification of explanatory and interpreted variables indicators.