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财产保险是企业风险管理体系的重要内容。在中国经济转型过程中,制度环境和交易成本这两个层面的因素相互交织,通过破产成本、委托代理成本等机制的作用而影响企业财产保险需求。基于2008年中国上海证券交易所上市公司年度报表的实证分析表明,较高的股权集中度、较大的企业规模以及具有较强清偿能力的上市公司往往表现出相对较强的财产保险需求,而国有股比例、管理层持股比例等因素对中国财产保险需求几乎没有太大影响。
Property insurance is an important part of the enterprise risk management system. In the process of China’s economic restructuring, the factors of institutional environment and transaction costs are intertwined with each other and affect the property insurance needs of enterprises through the functions of bankruptcy costs and agency costs. Based on the empirical analysis of the annual reports of the listed companies of Shanghai Stock Exchange in China in 2008, it shows that the higher ownership concentration, the larger firm size and the stronger liquidity of listed companies often show relatively strong demand for property insurance. However, Factors such as the proportion of state-owned shares and the shareholding of management have little effect on the demand for property insurance in China.