保险公司规模对资产减值损失顺周期性的影响——基于2011～2013年季度面板数据的实证研究

Does Insurance Company's Size Impact on Pro-cyclical Asset Impairment Losses?——An Empirical Analysis Based on Quarterly Panel Data during 2011-2013

基于2011—2013年季度面板数据的实证分析表明，无论是宏观经济周期因素还是其他非周期因素引起的资产减值，都与保险公司的资产规模密切联系在一起。其中，经济周期因素引致的资产减值损失呈现顺周期的特征。该特征的强弱程度与资产规模相关联，而且包含门限效应。保险公司应该根据资产规模的变化执行动态的、有差别的减值准备。在其他条件相同的情况下，大公司与小公司的减值准备比率应该略高于中等规模的公司。

The empirical analysis based on quarterly panel data during 2011 -2013 shows that insurance company sizes cast influences on asset impairment losses caused by cyclical or noncyclical factors, and the intensity of pro-cyclicality is closely related to company sizes with a threshold effect. Therefore, dynamic and differentiated reserves for asset impairment is necessary small- sized companies should when company＇s asset size changes. keep higher reserve ratios for asset With all other factors being the same, large- and impairment than medium-sized companies.