金融学保险产品中英文对照外文翻译文献.docx

金融学保险产品中英文对照外文翻译文献.docx

《金融学保险产品中英文对照外文翻译文献.docx》由会员分享，可在线阅读，更多相关《金融学保险产品中英文对照外文翻译文献.docx（14页珍藏版）》请在冰点文库上搜索。

金融学保险产品中英文对照外文翻译文献

中英文翻译

原文：

RegressionAnalysisonInvisibleDemandofInsuranceProducts

Abstract:

Inthecontextofin-depthstudyoninvisibledemand,thispaperdescribesdifferentresultsofdomesticandforeignscholarsininvisibledemandinviewsoftherelevantresearches.Fromthreeperspectivesthispaperqualitativelyanalyzesthedifferencebetweeninsuranceproductsandtangibleproducts,highlightingtheintangiblenatureofinsuranceproducts.Throughthecorrelationanalysisandregressionanalysisoninsuranceproductsandincome,consumption,wefoundthatrisingincomeleadstotheconstantconsumptionofinsuranceproducts,namelyacertainincomereachestoavoidrisksstronger.Soitisanimportanttasktodevelopnewinsuranceproductstomeetthecontinuousneedsofthepeoplebasedoninvisibledemand.

Keywords:

insuranceproducts;invisibledemand;regressionanalysis;correlationanalysis

1Introduction

Manyinsurancecompaniesrealizethatcustomeroftenfailtoexpresstheirdemandsclearly.TheinvisibledemandresearchofChinesescholarswerescatteredindifferentareasofresearchanddocumentation,andthepapergraduallyhasformedarelativelyareaofstudyandresearchcontextincurrent.WangBaoxin（2003）believedthatthereisalargenumberoftheinvisibledemandforthecustomerexcepttheprofilingdemand.Especiallytheinvisibledemandofthecustomismorepotential,soithasabilitytopayandimpulsivityshoppingbelongstoinvisibledemandorsemi-invisibledemand.LuoYongtai（2006）putforwardtheproductbasedonthedepthofthedevelopment,whichwillhelpenterprisestakefulladvantageofconsumerinvisibleresourcesdemand.

Thevariationandevolutionoftheinvisibledemandresearchofforeignscholarsisunderstandingearlier,KeithGoffinFredLemke（2005）believedthatsometimescustomersdonotcomprehendwhattheirdemands,thatis,consumersorusersonlyhavenotdirectlycognizantfortheirdemands.Becausetheserequirementsaretheawarenesslevel,userscannotclearlyexpressthesedemands.AdrianSlywotzky,RichardWise,KarlWeber（2005）proposedtheoriginofinnovationwasgraspingtheinvisibledemandofcustomer.Enterprisesmustunderstandtheexistingproductandservicerelatedfieldwhichcustomersspendmoretimeandmoney,and“demandinnovation”createsnewprofits.

FromtheaboveLiteratures,wecanseethattherearemanyscholarstoresearchontheinvisibledemandbasedonnotquantitativeanalysisofcombineddatabutthetheoreticalanalysismostly.Therefore,thisarticleaimstousecombinationmethodsofqualitativeandquantitativetoofstudyinvisibledemandforinsuranceproducts.

2TheDifferenceComparisononInsuranceProductsandTangibleProducts

2.1Greaterflexibilityinproductquality

Tangibleproductscanbemass-producedbythelabor.Thedifferentproductionmaterials,differentproductionprocess,differentproductiontechnologieslevelcanleadtodifferencesinproductquality.Afterall,thereisameasurestandardfortangibleproducts.Thesamekindsofproductcanalsobeusedtocomparedandidentified.Whethertheinsuranceproductisagoodornotcanbedifficulttomeasurebyitsservicequality.

2.2Theambiguityofformerproductsconsumption

Peoplebuyproductsbeforewecandoacertainunderstandingsuchasdebugging,touch,somemanufacturersalsosellanumberofdaystomakethepromiseofatrial,sothattheconsumerproducthasaclearerunderstandinginordertohelptomakethefinalpurchasedecision,sothatconsumershaveaclearerunderstandingforproductswhichhelppeopletomakepurchasedecisions.Althoughpeoplehaveanunderstandingfortheinsuranceproductsbeforebuying,theconsumercannottouchitbutseeitsappearance.Therefore,theremaybelotsofambiguitybeforemakingdecisions.

2.3Thesynchronizationprocessofproductionandconsumption

Tangibleproductshavetheproduction,storage,transportation,salesandsoon.Thisprocesshastheproductionbehaviorformanufacturers,transport,storagebehaviorandthesalebehaviorforbusinesses,thusexpandingtheproductcontactsurfaceandthesphereofinfluence.Insuranceproductsaserviceprocesswhichareofferedbythesellertothebuyer,theproductionprocessistheconsumptionprocess.Thesynchronizationofthetwolimitsthesphereinsuranceproducts.Thescaleandgeographicalscopeoftheinsuranceproductshavelimitationsinthecompetition.

Inthepurchaseoftangibleproducts,theownershiphastransferred.Afterthepurchase,consumerscantransfertheproducttoothersandifconsumersarenotsatisfiedwiththeeventandcanalsobechangedback.Thetransferofownershiprightsdoesnotoccurinthepurchaseofinsuranceproductsinandthetransferrightswillnolongergoout.Itwillbedifficulttochangeiftheconsumerisnotsatisfiedwiththeproducts.

3TheQuantitativeAnalysisofInvisibleDemandofInsuranceProducts

Withthelevelofpersonalincomesrising,people’sconsumptionisalsorising.Inthepast,peopleonlyfocusedonthefoodissueandclothingwell-being,andnowconstantpursuitthespiritualdemand,thenwhichledthedevelopmentofrelatedservices.Theinsuranceindustryisakindofessentialdemandandthedemandisalsoconstanttoincrease.Itisdifferentfromordinaryproducts,afterthepaymentyoubuyastablepsychologicalandakindofrisk.

3.1Dataselection

Wemainlyresearchtheinvisibledemandofinsuranceproductsinthispaper.Becausetheinvisibledemandisdifficulttomeasureinpracticeandprofilingdemandisshiftfrominvisibledemand,weselectedprofilingdemandtoreplaceinvisibledemand.Inthispaper,weselecttheretailpriceindex（RETAIL）,percapitadisposableincome（INCOME）astheconsumptionandincomelevelofpeopleandselectpremiumincome（BAOFEI）astheinsuranceconsumptionforconsumers.Thesethreeindicatorsarebased1978=100asthebaseperiodindex.AccordingtotheNationalBureauofStatisticswebsite,wegetthedataintervaltimewhichis1985,1990,from1993to2007.Thedataareasfollows:

Table1.Dataindicatorsfrom1985to200

Year

BAOFEI

INCOME

RETAIL

1985

192.3

160.4

128.1

1990

1200.0

198.1

207.7

1993

3507.7

255.1

254.9

1994

2892.3

276.8

310.2

1995

3484.6

290.3

356.1

1996

4138.5

301.6

377.8

1997

5938.5

311.9

380.8

1998

9661.5

329.9

370.9

1999

10815.4

360.6

359.8

2000

12292.3

383.7

354.4

2001

16223.1

416.3

351.6

2002

23492.3

472.1

347

2003

29846.2

514.6

346.7

2004

33215.4

554.2

356.4

2005

37938.5

607.4

359.3

2006

43384.6

670.7

362.9

2007

54123.1

752.3

376.7

3.2Correlationanalysis

UsingEViews3.1softwareaccordingtothedatainTable1,weprocessthecorrelationanalysisforthelevelofpremiumsrespectively,consumptionandincome（INCOME）.Theresultsareasfollows:

Table2.Therelateddegreeamongindicators

CORR

BAOFEI

INCOME

RETAIL

BAOFEI

1.0000

0.9864

0.4566

INCOME

0.9864

1.0000

0.5858

RETAIL

0.4566

0.5858

1.0000

FromTable2wefindthattherelevantdegreeofthepremiumincomeandpercapitadisposableincomeis0.9864,whiletherelatedleveloftheconsumptionlevelandpercapitadisposableincomeis0.5858;thisshowsthatwiththeincomelevelsrising,peopletendtokeepconsumptionofinsuranceproducts,whileconsumptionofotherproductsdonotincreasegreatly.Thisismainlybecausetheincomehigher,theriskawarenessstrongerandtheinsuranceproductsconsumemore.

3.3Regressionanalysis

Premiumincomeastheinterpretedvariable,personalincomelevels,theretailpriceindexasexplanatoryvariablesforregression,theregressionresultsareasfollows:

Table3.Theregressionmodelofpremiumlevel

DependentVariable:

BAOFEI

Method:

LeastSquares

Date:

06/17/09Time:

10:

48

Sample（adjusted）:

19912007

Includedobservations:

17afteradjustingendpoints

Variable

Coefficient

Std.Error

t-Statistic

Prob.

INCOME

108.8407

2.223533

48.94943

0.0000

RETAIL

-44.73793

5.418658

-8.256276

0.0000

C

-11957.34

1484.072

-8.057115

0.0000

R-squared

0.995402

Meandependentvar

17196.84

AdjustedR-squared

0.994745

S.D.dependentvar

16734.44

S.E.ofregression

1213.076

Akaikeinfocriterion

17.19849

Sumsquaredresid

20601735

Schwarzcriterion

17.34553

Loglikelihood

-143.1872

F-statistic

1515.428

Durbin-Watsonstat

1.423726

Prob（F-statistic）

0.000000

Table4.Autocorrelationtest

Breusch-GodfreySerialCorrelationLMTest:

F-statistic

3.995125

Probability

0.056793

Obs*R-squared

6.795025

Probability

0.078456

Table5.Whitetest

WhiteHeteroskedasticityTest:

F-statistic

0.202972

Probability

0.931873

Obs*R-squared

1.077287

Probability

0.897859

AccordingtothePvaluefromTable3,wecanseethattheestimatedvaluesofcoefficientsofexplanatoryvariablesaresignificantlynon-zero（95%confidencelevel）.Bytheadjustinggoodness-of-fit

is0.99whichshowsthatpremiumindicatorshavebeentoexplaintheextentof99%.Theresultisrelativelyexcellent.FromTable4andTable5,Pvalueisshownintheconditionsof95percentsconfidencelevel,themodelhasnotheteroscedasticityandautocorrelation.Sowedrawwiththeregressionrelationshipofpremium,incomeandtheconsumptionlevel.Theformulaisasfollows:

（1）

Fromtheformula

（1）wecanseethatthelevelofpersonalincomeincreasesoneunit,thepremiumlevelincreases108.84units,whichfullyreflectswhenpeoplereachacertainincomelevel,peopledislikerisk.Themorerisk-averseinsured,hehopestopayhigherinsurancepremiums.Wepurchasetheinsurancetoavoidunnecessaryrisksandincreasethesecuritysense.

Therelation