A Study On The Relationships Among Risk Decision Preference,Risk Sharing And Organizational Performance In Science & Technology Insurance

The science&technology insurance as the important product of science&technology and finance,has become one of important measures that science&technology enterprises scatter and transfer science&technology risks.Based on the analysis of relevant literature,this paper firstly designs the research framework of the relationships among risk decision preference,risk sharing and organizational performance in science&technology insurance,and uses evolutionary game method to analyze the mechanisms,which proposes the conceptual model and assumptions.The paper secondly conducts the questionnaire survey on insurance company,which all 243 datas pass the relevant tests. Using the methods including the structure function model and so on,the paper finally makes the empirical analysis of the hypothesis and analyzes the conclusions.Based on problem-oriented and empirical analysis,the paper carried out the research on the theories and practice which had certain explorations and innovations,and comes to the conclusions which had some theoretical value and realistic directive significance,such as:1. Risk decision preference,risk sharing and organizational performance in the science&technology insurance had the ternary relationships.On the basis of literature reviews, the paper started from the analysis of mutual relationships between risk decision preference and risk sharing,then introduced risk sharing into the former relationships. The paper proposed the research hypotheses that risk decision preference,risk sharing and organizational performance had mutual relationships,which expanded the binary relationships between risk decision preference and organizational performance into the ternary relationships.The paper built the game model between insurance company and science&technology enterprise,which drew the basic logical relationships among variables through evolutionary game analysis.In other words, risk decision preference as the independent variable acted on organizational performance as the dependent variable through risk sharing as intermediate variables.The conclusion provided a theoretical analysis framework of the problems of science&technology risk management and insurance,which deepened and expanded relevant theories such as the preference theory,the risk management theory.2. Risk decision preference,risk sharing and organizational performance in science&technology insurance had different structures,dimensions and characteristics.Firstly,the paper divided risk decision preference into three dimensions including cognitive dimension,assessment dimension and structure dimension.Secondly,the paper divided risk sharing into two dimensions including subjective selection and channel construction.Finally,the paper divided organizational performance into two dimensions including financial and social dimension.The relevant tests found that the divisions had the certain science and rationality,which would help the practice departments to take special measures to promote the development of science&technology insurance.3. Three dimensions of risk decision preference had different impacts on risk sharing.Empirical studies found the assessment dimension of risk decision preference had the siginificant positive impacts on both subjective selection and channel construction of risk sharing.Empirical studies also found that the assessment dimension of risk decision preference had nearly half impact on the channel construction of risk sharing through the intermediary of subjective selection of risk sharing, and the effectiveness of assessment dimension was the most important in all dimensions of risk decision preference.The cognitive dimension of risk decision preference had the siginificant positive impact on channel construction of risk sharing.On the contrary,the structure dimension of risk decision preference had the siginificant negative impact on all demensions of risk sharing.Studies suggested that risk sharing of science&technology were subject to risk decision preference.This finding would provide new idea to promote risk sharing of science&technology.4. Two dimensions of risk sharing had different impacts on organizational performance.The empirical results showed that both subjective selection and channel construction of risk sharing had the siginificant positive impact on both financial dimension and social dimension of organizational performance,and the effectivenesses of risk sharing to social dimension of organizational performance were realized mainly through the intermediary of financial dimension of organizational performance.On the one hand,risk decision preference promoted financial performance by which the cognitive level regulated subjective selection and judgement of risk activities.On the other hand,risk decision preference had impacts on financial and social performance by which the structure level adjusted or scattered innovation risks of science&technology.The paper systematically analyzed the relationships,which made the results have strong explanatory power.5.The internal dimension either risk sharing or orginational performance had mutual effects.The paper also found that the subjective selection of risk sharing had a positive impact on the channel construction of risk sharing,and the financial dimension of organizational performance had a positive impact on the social dimension of organizational performance.The result made up for the shortcomings of previous studies,which had certain theoretical and practical value.6. Asymmetry information had certain impacts on the structure relationships among variables. On the one hand,asymmetry information weakened the effectiveness that the assessment dimension of risk decision preference had impacts on risk sharing,and weakened the effectiveness that the subjective selection of risk sharing had impacts on organizational performance.On the other hand,asymmetry information strengthened the effectiveness that the cognitive and structure dimensions of risk decision preference had impacts on risk sharing,and strengthened the effectiveness that channel construction of risk sharing had impacts on organizational performance. To some extent,the conclusion provided some inspirations for the sustainable development of science&technology.