Corporate Diversification, Ownership, and Solvency in China’s Property-Liability Insurance Companies

Table 1

Descriptive statistics of variables.

	Variable	Mean value	Standard deviation	Minimum value	Maximum value
Full sample	Sol	18.91	67.63	0.52	898.4
	Prodiv	0.472	0.199	0.015	0.884
	Geodiv	0.609	0.362	0	0.959
	Size	8.079	1.660	5.188	13.59
	Age	2.062	0.775	0	4.220
	Loss	0.438	0.431	0	6.880
	Rein	0.228	0.234	0	0.971
	ms	0.019	0.058	0	0.421
	Investrisk	0.651	0.196	0.137	0.985
	gdp	0.083	0.013	0.067	0.106
Sample of Chinese-funded companies	Sol	14.30	50.10	0.52	315.5
	Prodiv	0.383	0.164	0.015	0.844
	Geodiv	0.778	0.284	0	0.959
	Size	8.910	1.541	6.189	13.59
	Age	2.054	0.821	0	4.220
	Loss	0.435	0.160	0	0.779
	Rein	0.113	0.103	0	0.734
	ms	0.030	0.072	0	0.421
	Investrisk	0.733	0.169	0.238	0.985
	gdp	0.083	0.013	0.067	0.106
Sample of foreign-funded companies	Sol	27.21	90.77	1.077	898.4
	Prodiv	0.608	0.170	0.022	0.833
	Geodiv	0.349	0.315	0	0.922
	Size	6.818	0.834	5.188	9.325
	Age	2.077	0.701	0	3.135
	Loss	0.442	0.653	0	6.880
	Rein	0.404	0.267	0.001	0.971
	ms	0.001	0.001	0	0.009
	Investrisk	0.527	0.169	0.137	0.947
	gdp	0.083	0.013	0.067	0.106