保险公司治理结构与资本结构研究

A Research on Insurance Company′s Governance Structure and Capital Structure

本文选取中国上市保险公司2007年～2010年的年报数据和中期报表数据,依据本文建立的公司治理结构与资本结构模型对样本数据进行多元回归分析,得出如下结论:政府持股比例、外资持股比例、董事会成员持股比例增加以及董事长兼任CEO有利于改善保险公司的资本结构;独立董事比例、具有金融从业经验的独立董事与保险公司资本结构无关。

The paper used Chinese listed insurers＇ annual report and interim report data during the period of 2007 to 2010 ,and made a multiple regression analysis of the sample data according to the author＇s corporate governance structure and capital structure models. It arrived at the conclusion that the level of government ownership, the per- centage of foreign ownership, the percentage of shareholding by board members and the chairman holding a concurrent post of the CEO could enhance insurance companies＇ capital structure, and that the appointment of independent directors ,or independent directors with a financial background was irrelevant to the insurers＇ canital structure.