Research On The Demand Of Property Insurance Of Export-oriented Enterprises

Export-oriented enterprises have made great contributions to China's economic growth and it's one of the important driving forces for China's economic growth.In recent years,under the background of the implementation of the strategy of "one belt and one road",the development of export oriented enterprises are facing new opportunities and challenges,and the risks and uncertainties faced by enterprises have increased.Therefore,it is particularly important to strengthen the risk management of export-oriented enterprises.Insurance,as an important tool for enterprises to avoid risks,plays an important role in this process.This paper will study what factors affect the property insurance of export-oriented enterprises,and how these factors affect the property insurance demand of export-oriented enterprises.On the basis of summing up the previous research results,this paper summarizes the impact of risk aversion theory,export security demand,enterprise size,trade financing motivation,bankruptcy cost and ownership structure on property insurance demand of export-oriented enterprises,and puts forward six research assumptions.This paper takes the enterprises in the database of Chinese industrial enterprises from 1998 to 2007 as the research sample,and makes an empirical study on the factors affecting the property insurance demand of export-oriented enterprises by constructing a regression model.The results of basic regression analysis show that the capital intensity,number of employees,export quota,profitability and years of operation of export-oriented enterprises are significantly positively correlated with their property insurance demand,while the total factor productivity of export-oriented enterprises is significantly negatively correlated with their property insurance demand.In the grouped regression analysis,the empirical results show that: export-oriented enterprises are more likely to insure property insurance than non-export-oriented enterprises;state-owned export-oriented enterprises are less likely to purchase property insurance than non-state-owned export-oriented enterprises;compared with medium-tech-intensive export enterprises and high-tech-intensive export enterprises,low-tech-intensive export enterprises purchase less property insurance;and the demand for property insurance by export-oriented enterprises in the eastern region is higher than that of non-Eastern regions.The empirical results confirm the six research assumptions of this paper.Then,considering the characteristics of many uncertain factors in the current international economic situation,the paper puts forward the expansion hypothesis that there is a positive correlation between demand shocks and property insurance demand of export-oriented enterprises.Based on the balance panel data of Chinese industrial enterprises database from 1999 to 2007,a regression model is established for empirical analysis.The results show that the greater the demand shock impact,the more likely it is for export-oriented enterprises to purchase property insurance.Finally,this paper puts forward some suggestions to improve the property insurance demand of export-oriented enterprises in China.