中文摘要：

针对传统企业效率评估方法没有考虑内生风险和外生环境等不足，基于风险和环境双重视角的改进型三阶段DEA模型被提出，并以此测算了19992009年中国保险企业经过内生风险和外生环境调整之后的技术效率值．研究表明：保险企业所处的内生风险和外部环境均对企业效率水平产生了显著影响．其中，风险效应显示企业通过增强自身风险管理的能力，能够帮助改善其技术效率状况；而环境效应则显示行业的总体外部环境趋于不利，这对企业提升技术效率起到一定的阻碍作用．随着保险业开放程度的不断提高和市场竞争的日趋激烈，风险效应和环境效应对股份制企业效率的影响程度均要大于国有企业，而外资和中资保险企业效率受风险效应的影响差别不大，但环境效应对外资保险企业效率的影响更大．

英文摘要：

Considering that part of the efficiency is due to endogenous risks and exogenous environments, a modified three-stage sequential technique based on the DEA model is applied to the case of China＇s insurance industry. The technical efficiencies adjusted for risk and environment are re-measured for the insurance firms from 1999 to 2009 in China. The results show that the endogenous risks and exogenous circumstances of insurers have significant impact on the efficiency estimation. The risk effect indicates that the improvement of enterprise risk management can increase efficiency, while the environment effect implies that the exogenous environment conditions have become adverse. With the further opening-up of insurance industry in China, the risk effect and environment effect have more significant impact on stock insurers than on state-owned insurers. Although the environment effect has more significant impact on foreign insurers than on domestic insurers, there is no difference in the risk effect.