The Impact Of Diversification Of Board Membership On The Performance Of Life Insurance Company

Along with the continuous growth of China's social economy and the continuous improvement of people's living standards,it is a richer and more diverse choice and more uncertain factors.The insurance industry can play a role in safeguarding and stabilizing the social economy in the social and economic development.In recent years,the government and people of China have paid more and more attention to the life insurance industry and life insurance products.The insurance awareness of"preventing the problem"has been deeply rooted in the hearts of the people.Prosperous development period.The particularity and operational complexity of life insurance business determines the importance of internal management of life insurance companies.The board of directors is the core of corporate governance.The business model under the "army-style" general structure of China's insurance industry makes the policy directives of headquarters and senior management teams directly It is related to the company's development direction and business objectives.As the decision-making center of the company's strategy,the board of directors directly affects the company's operational style and pertformance.Therefore,this paper selects one of the angles,and cuts into the diversified characteristics of board members to study its impact on the business performance of life insurance companies.It is hoped that relevant suggestions can be made for the development of insurance companies,especially life insurance companies with special and complex business operations.Firstly,it introduces the theoretical theory and theoretical basis of the research on the diversity of board members' characteristics.Secondly,it summarizes the characteristics of board members in terms of board size,gender diversity,age diversity,proportion of independent directors,diversified educational background and industry background,and diversified overseas perspectives.Related research on the impact of business dimensions on dimensions.Finally,an empirical analysis of the impact of diversification of board members' characteristics on the performance of 46 life insurance companies is made,and relevant suggestions are put forward.In the empirical analysis,the explanatory variable of this paper is the company's operating performance.The operating data of life insurance companies from 2014 to 2017 are selected.There are 10 indicators from four dimensions:profitability,speed,scale,quality of benefit and solvency.The principal component analysis is made by spss23 software,and the score is taken as the company's operating performance.Taking the diversification of board members'characteristics as explanatory variables,two models are established to draw conclusions:(1)There is no linear correlation between the diversification of board members'characteristics and business performance.(2)Corporate size can regulate the positive correlation between the diversification of board members'characteristics and business performance.The diversity of board members is significant at the level of 5%,with a coefficient of-0.033624,which is negatively correlated with business performance.The cross product of board member diversification and company size is significant at 5%level,and is positively correlated with business performance.It shows that company size can promote the positive effect of board members'diversification characteristics on business performance.