| Summary: | 碩士 === 朝陽科技大學 === 保險金融管理系碩士班 === 95 === Taiwan’s life insurance industry has to face international competitions industries. Therefore, how to constitute an index valuing the life insurance company’s operation performance becomes an important issue. This thesis mainly discusses the effect of financial environment changes on financial performance of domestic life insurance companies in Taiwan. The data is composed of 20 financial ratios and analyzed for 25companies for the period of 2002 to 2005. First, I use factor analysis to collect important financial indices. The main method makes the factor analysis for forerunner to extract the Illiquidity, Profitability, Managing Ability and Financial Leverage. Then, I use a Factor analysis model to measure relative financial efficiency. Finally, T-test and Mann-Whitney U tests are used to inspect if there is any difference of operating performance between holding and non-holding, listed and non-listed, Taiwan local and international life insurance companies. The results show holding and non-holding life insurance companies present no significant differences in all the operating performance; listed and non-listed life insurance companies present a significant difference of the operating performance only in Financial Leverage; Taiwan’s local and international life insurance companies present a significant difference of the operating performance only in Profitability. We also find that there are relationship among the Profitability, Managing Ability and Financial Leverage.
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