摘  要
     《保险业高质量发展三年行动方案（2023-2025年）》和“十四五”规划明确提出推动保险行业高质量发展的目标，研究财产保险公司规模经济性及其影响因素具有重要的现实意义。然而，目前我国财产保险公司在实现规模经济效应的过程中，仍存在效益不均、管理复杂性增加等问题，其具体表现和作用机制尚缺乏系统的实证研究。因此，本文结合我国财产保险行业的发展背景与现实需求，从规模经济的视角对其进行深入探讨，基于超越对数成本函数模型，利用我国36家财产保险公司2013年-2022年十年的面板数据，系统分析财产保险公司的规模经济性及其影响因素。研究主要围绕以下三个方面展开：（1）测算我国财产保险公司规模经济系数，分析其规模经济效应是否显著及其原因；（2）探讨扩张速度对我国财产保险公司规模经济的影响，行业集中度、劳动者素质、公司治理水平等作为控制变量；（3）揭示不同规模、不同性质财产保险公司在规模经济效应上的异质性特征。
       通过实证分析发现，我国财产保险公司整体上具有一定的规模经济性，但不同公司表现出显著异质性：中小型保险公司因其资源配置较为灵活，管理成本较低，更容易实现规模经济效应；而大型保险公司则因管理层级复杂、资源冗余等问题，部分呈现规模不经济特征。此外，扩张速度与规模经济系数之间存在显著的负相关关系；劳动者素质和公司治理水平的提高能够显著促进规模经济的实现。
基于研究结论，本文从优化扩张策略、提升资本使用效率、优化人力资源管理和规范行业竞争环境四个角度提出了政策建议。从实证的角度揭示了我国财产保险公司规模经济及其影响因素，为推动行业高质量发展提供了一定的理论参考和实践意义。

Abstract
    The Three Year Action Plan for High Quality Development of the Insurance Industry (2023-2025) and the 14th Five Year Plan clearly set the goal of promoting high-quality development of the insurance industry. Studying the economies of scale and their influencing factors of property insurance companies has important practical significance. However, in the process of achieving economies of scale, property insurance companies in China still face problems such as uneven benefits and increased management complexity, and there is a lack of systematic empirical research on their specific manifestations and mechanisms of action. Therefore, this article combines the development background and practical needs of China's property insurance industry, and explores it from the perspective of economies of scale. Based on the transcendental logarithmic cost function model, using panel data from 36 property insurance companies in China from 2013 to 2022, the economies of scale and their influencing factors of property insurance companies are systematically analyzed. The research mainly focuses on the following three aspects: (1) calculating the economies of scale coefficient of property insurance companies in China, analyzing whether the economies of scale effect is significant and the reasons for it; (2) Exploring the impact of expansion speed on the economies of scale of property insurance companies in China, with industry concentration, labor quality, and corporate governance level as control variables; (3) Reveal the heterogeneity characteristics of property insurance companies of different sizes and natures in terms of economies of scale effects.
    Through empirical analysis, it is found that China's property insurance companies as a whole have a certain degree of economies of scale, but different companies exhibit significant heterogeneity: small and medium-sized insurance companies are more likely to achieve economies of scale due to their flexible resource allocation and lower management costs; Large insurance companies, on the other hand, exhibit diseconomies of scale due to complex management levels and redundant resources. In addition, there is a significant negative correlation between the expansion speed and the coefficient of economies of scale; The improvement of labor quality and corporate governance level can significantly promote the realization of economies of scale.
Based on the research findings, this article proposes policy recommendations from four perspectives: optimizing expansion strategies, improving capital utilization efficiency, optimizing human resource management, and regulating industry competition environment.