Business structure, competition, and financial stability: Evidence from China's property-liability insurance market

Shuang Wu and Yanan Chen

Finance Research Letters, 2025, vol. 79, issue C

Abstract: Using non-balanced panel data from China's property-liability insurance market between 2008 and 2016, this study examines the impact of business structures on corporate financial stability. Results show that an increase in non-auto insurance significantly improves an enterprise's financial stability, particularly for foreign-funded and small Chinese-funded companies. An analysis of the moderating effect shows that only small Chinese-funded insurance companies will benefit from the positive effect of the business structure on financial stability. These findings have important policy implications for the government and insurers.

Keywords: Business structure; Competition; Financial stability; Non-auto insurance; Moderating effect (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:79:y:2025:i:c:s1544612325004908

DOI: 10.1016/j.frl.2025.107227

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