中文摘要：

深入分析企业补充医疗保险需求有助于我国商业健康保险发展和多层次医疗保障体系建设。本文基于企业对补充医疗保险的财务决策理论，选取上海证交所上市公司2010～2013年年报数据，建立计量模型实证分析企业参加补充医疗保险的财务动机。结果发现：上市公司是否参加企业补充医疗保险及参保程度，与代表企业保险议价能力的企业规模、代表企业投资机会的托宾Q和代表企业外部融资成本的杠杆率正相关，与代表保险市场供给形态的集中指数和代表公司价值凹性的实际所得税率负相关。本文最后建议，企业补充医疗保险作为供给引领型产品，其进一步发展亟需在市场主体、产品设计和税优激励等多方面进行供给侧结构性改革。

英文摘要：

An in -depth analysis of enterprise supplementary medical insurance demands is important for the de- velopment of commercial health insurance and the multi - level medical security system. In this paper, based on the financial decision theory of supplementary medical insurance, we selected 2010 -2013 annual report data of insurers listed on the listed companies in the Shanghai Stock Exchange 2010 -2013 annual report data,and set up models for the empirical study. Our findings showed that whether the listed companies participated in the supplementary medical insurance and the hedging degree, had a positive correlation with size, risk level, Tobin＇s Q and leverage, but had a negative correlation with HHI and tax rate. Finally, we suggested that further development of enterprise supplementary medical insurance heed the supply side reform in many aspects such as providers, product design and tax incentive.